While i don't reckon the USA/European mkts have reached...

While i don't reckon the USA/European mkts have reached capitulation i believe BLY had its own 'capitulation' some 4 weeks ago when it collapsed to 7c. The turmoil has driven out those unable to hold-on. Now its on a long slow but steady climb back to 30c. It may well go on to reach 35-40c by year end. Who knows? But i sense the worst is over for BLY and debt reductions along with profitable operations will ensure it meets its obligations. The mkt will continue to respond to this new perception/realisation.