I agree with the 3 day rule - in fact it can be anything from 2 to 7 but 3 to 4 is normally pretty accurate when dealing with a massive fall as we saw. When stocks fall big, like EBIX, a lot of coat tailing happens and many shorts just follow blindly, go with the herd so to speak. As such, when the turn happens, it can jump 10 or 20% in a couple of sessions as late to the party shorts get spooked. Of course it very rarely retraces to where it was and I don't expect that to happen here. I do think it's wise to open a long position here, ideally through the options market with enough of a window to get some of this #$%$ resolved. Of course, if a merger gets back on the table then of course it can retrace, but even without a merger there is room to go quite a bit north.