BAL - Chart, page-1553

The stacked 2:1 sell side now looks very artificial. I think the formal announcement today takes out the biggest risk for BAL which was no diagou sales of english label next year. The risk will be on the upside for BAL revenue and really no reason for having 8% of all stick shorted.

The shorters will slowly exit from here. But given the volatile environment the shorters may be able to exit without a huge spike in SP. But there should be a sustained recovery with higher lows and eventually a breakout above the $8. All IMO.