PJ - my take on BLY was that it was always going to get support in the lead up to the SPP closing last week, and I was happy to jump on for the ride (for DT gains).
I expected the support to drop off today, but was surprised at how well it did hold up during the day. (I sold my DT portion on Friday). And managed to pick up some more at the close today when the drop off did happen this afternoon. I am very bullish on BLY and am keeping a core holding as well as day trading it.
The new shares come online Nov 2, so I guess there will be some more volatility. But I love the chart, and the fundamentals of this co. It has managed to deal with most of its debt, and IMHO things are looking up from here.
I know you love trading BLY (and so do I). And when it goes, it really does go doesn't it?
