Today's Georgia Gulf Rally

Got some questions about the 6% rally in GGC today.

OLN was down 1.8%, so despite what I wrote about the pair after OLN's earnings yesterday, the spread widened.

There were a lot of junky stocks up today - I view the GGC move as a dead cat bounce after yesterday's 15% drop.

We will see tomorrow.

Looking for other capital structure arbitrages right now and not finding much. There are lots of bonds trading at 60 where it is a head-scratcher as to how they could recover anything.