not if but when, page-65

Another interesting piece from money.cnn.com is:

'... With 302 companies, or 60% of the S&P 500 having already reported results, profits are on track to have fallen 17.9% from a year ago, according to the latest results from Thomson Reuters...'

2 weeks ago the % was something like 20, then a week ago it was around 19. A few days ago it was 18.*. Now it's 17.9%. Recovery --> increase metals demand --> increase drilling demand --> all good for BLY.