I think its frought with danger to sometimes say charts apply and sometimes they dont, just because they dont show the picture you would like to see.
Nobody would like to see BLY go up in SP more than me (except perhaps Ken & BnH who almost have enough shares to be voted onto the board:-), so I'd like to see it go up too. But if support was 37.5 and its now below, then there is now increased downside risk - to the next support level - and that's life.
As pointed out by CEB if you believe its a temporary dip and it will go back up (which I do at this stage), then its a good top-up opportunity, but if it turns out to be a change in the trend, then you'll get caught on the hop if you havent recognised the risk of that maybe happening.
Anyway, trade safe and with an objective mind. Cheers, Sharks
BLY Price at posting:
$3.70 Sentiment: LT Buy Disclosure: Held
