This thing moved 10% today from the opening trouncing. Wanted to buy but I'll have to wait. A classic example of not getting limit orders in before the opening bell.
God knows what the shorts will do tomorrow.
If this was a reply to me- it's more confidence than arrogance. Other than bogus boogie-man #$%$ there was no valid reason (other than market fluctuation/sector fears/ and the Ex Div date) that drove this so far down. I knew it would/will recover. Maybe not to $7.50 yet, but definitely it seemed to be way over-sold, from what I could tell, for no particular reason. It's not like we are anticipating a bad earnings report- it came out Nov 5th. The next one won't be for almost 3 months. Insiders aren't trading.
My guess is that these specific events triggered stop-loss orders in several large funds, causing the panic. I think order will be restored shortly. Even if the sector goes down 10%, this stock would correct to $6.60- 7.10. Ultimately, we won't know if regulations will affect DIVs for a LONG time, and we won't know if earnings are even down AT ALL for another 3 months. In that time I would GUESS that it goes back up to $7.50 or so, based on speculation and greed... People are probably heavy on cash now, Bonds have shiatty returns, and this some of the best returns you are going to get.