Humms BLY has been, and continues to go in a downward trend. Whoever told you that BLY was about to move didnt know what he was doing and was essentially gambling and trying to pick the bottom.
Rule number one in entering a stock - Is the stock moving upwards? Why get into a stock that is clearly moving in a downward direction?
I am part way through a book called "Exploding the Myths" by Frank Watkins. Top read for the first time trader or the trader that needs to brush up on some basics. Dont take my word for it....read the reviews online. Best $30 you will ever spend.
