Picked up some BSL just now. Massively shorted this morning on unofficial Fitch rating downgrade from BBB+ to BBB
From my experience, Fitch ratings arent really important. S&P carry more weight.
Share Count:
Insto Shorts like RBS have shorted as much as 7m shares or half the volume today.
I expect a solid bounce into the close as there is a fake seller at 3.09 trying to cap it.
OST is flat as were most global steel stocks last night so Good chance of a sound rebound.
Ill say 3.25 by tomorrow afternoon. Lets see.
May take a day but belive 3.25 is achievable by weeks end.
Todays short has little chance of buying back 7m shares without moving the stock, if Colonial or other manager pick some up, this stock will rocket back to 3.18 or so by close.
