This time I agree with you. I would buy at 36.That was a ceiling for a long time and I believe could be a floor now.
A wash maybe the best we can hope for. UBS must short these issues to be able to pay the distributions and still use the proceeds as they see fit.
Distribution depend on realizations, not paper earnings. Maybe it will go up with the First Data IPO.
People sell to get the capital gain that can be offset instead of the taxable dividend. IF the market is good it should see some replacement buys tomorrow.
I saw it from 24 to 34.This is a normal retracement for a volatile stock in a down market.
We should see a nice boost on July 30 when they report. Distribution should be good.