i doubt any of that will happen this week, i plan on covering my short late tomorrow or early wednesday.
That's the beauty of being a trader you don't have to worry so much about future events.
my guess will be you cover your ass at higher price of $15 if you still hold.
After all, this is a stock use to sell at more then $40 with no significant issue on capital reserve and bad asset, but full of possibility of triggers for upward movement.
Good luck for keeping your shirt or short :)
If you read my other post, I am always lack of confidence when I short stock. That's why last time I bought @$9.90 & sold @$10.10 with in 15minutes frame. Am I crazy or what? Then the stock tanked all the way down to $8.50 last Friday. I was right last time but have no guts to hold. I got a strong feeling to short today and my sense tells me I am right. Now, at what price will you cover? I am thinking $10.40.
You are on a dangerous path to short it. As the Chinese Minsheng bank lost their 9% share of the Union Bank, they may look for EWBC for a deal, which will either enhance the capital reserve of the EWBC or an open market purchase to run the stock higher.
There is only handful Chinese run bank here in US and they are the easy target of Banks from China which are all looking to find their feet into US market. In long run. I think EWBC is definitely a target for takeover by a Chinese Mainland bank, such as Merchant Bank of China based in Shenzhen.
ok, i was using TDAmeritrade, covered my short at 12.92 during the conference call.
Tried going long at 12.93 but only got 800 of my 8000 shares, sold them at 13.10 and now waiting to end of day before going short again because it does look like there will be one more rally in it.