may move up today, page-15

Here's my take on things.

Stock is currently being heavily shorted. Shorters are trying to scare investors into not take up their entitlements. This will leave the underwriters with more shares than they are comfortable with and put a cap on the price at circa 27c for a while. This is because the uw's will need to sell down their positions - they are not in the business of holding stock.

Stock will continue to be shorted pushing prices lower and possibly forcing underwriters to sell. This will push price down further. It is quite possible, as RKG and others suggest, that share price goes to low 20's.

At some stage the shorters will cover, uw's will have sold down their holdings and the share price will recover to better reflect BLY's true value.

For short term traders like RKG it pays to wait to the sell down stops. For long term holders a few cents here or there doesn't matter. In 12 months time everyone will be a winner IMO.

DYOR