Strong day today and seems to be on the march again. The same...

Strong day today and seems to be on the march again.

The same happened end of July early August when we got to 19c and copped a speeding query. Unfortunately the decidely crappy June 30 figures put paid to that and the share price went all the way back down to 11c.

However since then without any news the share price is working its way back and volumes are solid. The September quarter figures are going to be critical. The market wants to believe the turnaround story and if the figures back it up we should head well North of 20c. If the figures are more of the same as the last couple of years the bottom could fall out.

BLY are the laggard in their market segment as all the others look like the cycle has turned. However BLY's debt is massive and needs at least one more restructure before they can stand on their own two feet. I still think there is a reasonable chance Centerbridge could take them private and that would be OK for anyone who has bought in the last 12 months.