the psychology of $2.00, page-2

$2.00 is both a technical and psychological area of resistance. The market is a manic depressive beast.
At 230+ earlier in the week the market in blt was euphoric and hence the expected retrace.
I anticipate a few weeks of consolidation before another attack at the recent highs. Should trade between 2.10 and 1.70 imho. The only potential area of concern is a general nasty market correction, which is certainly brewing.
BLT holding up brilliantly however in spite of todays placement.