might make it into the low 7s have some guts and buy it and look for low double digits by late fall. Youll know when large green bars start to appear on your chart that the scammers are getting back from vacation and ready to put you through the whole cycle again. As the fall nears this thing will gain traction with rest of the financials. I am accumulating same amount every 2 weeks and smile everytime I drive by one and see the cars in the lot while they charge their customers outrageous fees.
I don't see it dropping that fast, but certainly going down below $8 in next coupl of days and then sliding lower throughout the summer. I think a great buying opportunity will be seen at the end of this summer...be patient or short it.
When it breaks $8, the near term support would be in the low $7s. The stock had its chance to break out but didn't. With the stock having a higher negative beta, I don't see a floor in sight as long as the news stay negative.