Quote from athlonmank8:
Congrats. Im happy you made money. You made a good trade, however for anyone to say that the market's been oversold and the problems are over and we'll be seeing 52-week highs are more than likely dead wrong.
Myself: Long ETFC from friday afternoon, short ARD. Holding ARD, and out ETFC @ 5 today on a technical sell point.
Nope, im just playing the dead cat bounce on ETFC. There was support there Friday and i just rode on the big fish. HOWEVER, IMO ETFC has more downside left and the buyer(s) now could see another leg down.
Everyone thinks ETRD will be bought. The problem is they're not worth the current price in the current condition and any buyout should be sub $4.