When you refer to the BTB, I presume it is the BTB in the equipment segment, and a low BTB often coincide with bottoms in the industry. I must admit, that .8 is not very low, but then we never got excessively high either in the BTB series (unlike the spring of 2000 where we got the BTB to 1.4 or so, if memory serves, leading to a through in the .5/.6 area, this time we barely made it to 1.2).
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