AEP went down big time yesterday, along with every other utility stock out there. Crap.
I hate it when some hedge fund or dark pool outfit decides to sell everything in a sector, regardless of the good ones or the bad ones. Wish the Feds would really do something to cut out all this manipulation.
How do you know it was a hedge fund? It might have been a mutual fund, or a bunch of mutual funds. There`s plenty of reason to be negative about electric utes right now. Warm winter, Obama`s jihad against fossil fuels, EPA`s recent ruling that in effect ends the construction of new coal-fired plants, etc. If institutions want to sell, that`s not "manipulation", that`s the market at work.
If you think good utes are being unfairly punished, then look at this as an opportunity. Buy them.