CEMENT FLOOR at $10 and ETFC will not trade lower than that.
Do not sell etfc, because there will be a rebound from 10 to 11.20 -11.30 imho
Do you agree with me that this is the time to buy ETFC shares?
no , I do not agree with you ! This is a very dangerous situation for investors ! You can hope to sell in a near short term , but not a big profit , after that stock will decline ! Citigroup will be selling shares of ETFC to the public and selling short to prepare for a decline ! In fact they already prepared for that decline in advance run up of 32 % in the stock price ! That run up was done prior to the offering !
Citi was shed of their shares before Fridays open, it'd be hard to imagine them having any more dump power when they'd have to buy the stock to do it. Their actions would have been more effective at keeping the price down if they'd waiting until AFTER earnings to do it. At least this way we have an upcoming even which may either lend us a boost, or hammer us into the sand. Plan wisely.