Personally, the jump surprised me. But when it happened I made an assumption that the momentum could carry it pass .40... beyond that I wasn't sure. In hindsight, there were probably a combination of momentum trade, strong resource prices and in particular oil and gold. The selloff in the last couple of days I attribute to the dow and technical corrections (as our day trading friends have been happily pointing out to us). I still hold the view that we will see China absorbing more of the world's energy and resources. And odds on that we will some kind of refinancing, whether it's an equity raising or through the bank syndicate. IF I'm right about these 2 points, the stock might not get to IPO price levels but will sure as hell be higher than today's close!
BLY Price at posting:
19.8¢ Sentiment: Buy Disclosure: Held
