Frankly, it is the sudden news of this bank which can run the stock price higher again. I am not saying you shouldn't short it, all I am saying is, if you had shorted it in past, it is case like this Union Bank news can drive you cry by shorting with margin call later.
As for what kind of new development it may cause another stock going up? I don't think I should make a rumor here. However, EWBC itself is a good taking over target with banks have large assets from oversea.
Yes! I do agree with you. However, if a stock sudden run up 54% in one day, I can't imagine how much higher it can get without profit taking plus today resulting a tremedous amount of short squeeze in place. I followed EWBC and realize that every time when there is a good news the stock will go up enormously then slide down slightly by each day. For those who just shorted after 3qtr earning and did not cover before yesterday would result in a short squezze today. Well, we are taking a chance. But I think the chance of going down instead going up is more likely base on the trend of this stock. I hope I would be right. I shorted @9.90 last time but cover right away @10.10 and lost $.20. ssam what about your position?