The sharp movement upwards before the SEC announce

The sharp movement upwards before the SEC announcement that was coincident with the XTR and Indigo partnership announcements was short-lived. This was retail investors reacting to news after the stock price had fallen to less than half its high six months before.  It provided an additional opportunity for those in the know about what was coming in January to get out.

Note that the Rock-Tenn deal announced in August, 2011, had very little impact on the stock price.  I find this extremely interesting.  This was a huge deal, but it had no more impact than the non-news price swings in October and November.

It seems clear that "smart" money knew more about the state of affairs at JBII than retail investors.

So what is "smart" money doing now.  Perhaps they are slowly buying at these levels. That theory doesn't sit well with me because there is nothing indicative of a bottom in that chart.  Perhaps they will be the early buyers at the start of the next major rally.

I'm looking for a bottom to form on the chart.  It looked like one was forming just before the AGM.  And then the decline continued as investors knew success was at least six months down the road.  The chart seems to be saying that it is quite a bit more than six months down the road.