oversold

Like all good buys they get over bought so do shorts. You would be nuts being short this stock now. For these reasons
1. The world has seen its worst
2. US is is likely to taper the bond buying
3. Resource sector is not dead
4. BLY will have significantly less net debt by 31 Dec 2013
5. They can manage the situation
6. Not going broke, stupid people would say that

The markets at the moment are all or nothing sentiment. Doom/gloom or boom mentality.
BLY is not an obvious short now at all at these levels.
I suspect some serious covering is under way. Remember the burning they (shorters) got at 1.90-2.20. Its on again in my humble opinion.