More of it. This company is being used as a battering ram. Why? I believe the smart money sees red ink here big time. Improved revenues one will say? Then why is this being steam rolled for 3 straight days now? Because they think more bad news is forthcoming.
Bottom line the market says NatGas is worthless.. Why are we flaring so much of it? Why? We don't have enough storage capacity.. Can you imagine if we used it to power our trucks instead of importing dirtier expensive Oil! Sad!
The day is not over. I wouldn't classify today's action as a continuation of the "steamrolling" over the last two days. If anything, selling pressure seems to have subsided. Which again makes me wonder about qtr-end implications yesterday. Don't some funds close the qtr in October, and could that have contributed to the pressure yesterday?
Regardless, at least here at midday, it is not the same bloodbath it had been the last two days. Look for a rebound at some point in the bear future for a confirmation of capitualtion ....