The market makeup is day traders. Their lives are make or break on ephemeral chart patterns. Charts say something about trends and are for people who can't think for themselves. The "herd" followed the dotcom. boom over the cliff thinking the market knows something.
This was a lot more than day traders selling. I think there was a coordinated effort by hedgefunds to short the sector on Friday. A lot of Canadian energy stocks were hammered. It was option expiration day so that might have played into it. I think the WTI price differential narrowing is just a matter of time and the hedgefunds are making hay while they can to drive the prices lower and then to go long in the sector.
Sure infinitwit, any excuse will do. Daytraders, market makers, hedge funds, circus clowns, deadbeat bankrupt garbage collectors, homeless cocker spaniels, global warming, malnutrition in Zimbabwe...let me know if I missed any. Maybe, just maybe, you will eventually find the REAL one. The only thing "ephemeral" around here is rational thoughts.
So great all brilliant Ohio_Whitebear why are you still here if you have no position in this stock. I have over 10k share and looking to add more, at the right price other wise I am happy with what I have.