LOL...BLY hasnt been anywhere NEAR its 200MA for a good 6 months. 4 weeks ago, I dont think it could be further away from it. Of course the bollinger band is saying its oversold - the stock has been plummeting and until proven otherwise, it still is. Either your friend doesnt know what hes talking about or youve taken a hot tip without understanding the tip itself.
Either way, IMO thats not a good thing. Sorry, just telling it how it is so the new bloke doesnt get burnt when he loses his money because he didnt look at a chart first.
