Generally speaking, I think the rees bottomed with the market and should recover 50-65% of their losses by January - assuming a continuation of the year end rally. These things have enormous beta - so they are terrific when the overall market is positive.

Still, there's been so much technical damage, I doubt that they will make new highs anytime soon - if ever. I own a lot of these, but for me, this is just a trade - I'm planning to sell in January. This morning, I sold some of my MCP (an assignment from selling October puts). I actually think it goes higher, but I wanted to reduce my rather large position in order to make room for more beat up smaller names.