1. I do not play ER but it was very attractive as the system indicated 600 bottom and the dividend pay out was around the corner. Also simple FWD PE ratio was low compare to industry average. I initiated LT(for me I use the term LT more than 2 days holding..True Long Term is more than a year) shooting for 42 PT after ER.
2. I saw the downside as low as 38 and the stock bounced from low 38 in the premarket after ER.
3. I planned for double down around 38 then another double position while bouncing up at 38.5.
4. I missed 38.5 doubling but was successful for the low 38 double down.
5. I sold half of position at 39.8 gaining about 4%.
6. Dividend will be paid out for 0.36 in March 1.
7. I just closed the position at 42.53 gaining another 7% from original open from 39.8.

Overall: Net 2% from the half selling at 39.8 + Net 3.5% from the half selling at 42.53 + Net 0.5% dividend = 2% + 3.5% + 0.5% = Net 6% from the total investment. 12% from the initial investment at 39.8.

 This is how I play LT in my Way.

 Clarification: I have double standard when I say LT. One for true LT and the other one for more than 2 days holding. So I would say more like Swing LT.