Short term I'm thinking this little breather is maybe a little tax loss selling. A lot of other oil names (like NOV) are also drifting back down a bit so I also some of this is the oil services group selling off a bit too. Although this is not your typical tax loss loser the market is at all time highs on the Dow/S&P but CRR is off about 30% from its peak a couple years back. There are not as many losers relative to past years so the tax loss selling pressure this year might be a little more than typical because unlike the last 2-3 years its concentrated in fewer names. I also saw some Herb Greenberg tweet sounding like he is checking out CRR and possibly going to spout an opinion - he typically writes negative pieces.
Bottom line - If the newer high conductivity high pressure high margin product does well none of the current negativity will matter 6-12 months out. The last week or two I added back to the point I'm mildly overweight this again. I'll lighten up a little at 125-130 and add more to being stupidly overweight if we get a 100 handle (100-09). From my perspective, given the size of the beat (.48) last quarter, if we even get remotely close to where we took off from last report - say a 100 handle - the market is not giving CRR too much credit. IMHO we beat again and the market will eventually catch up to what I am thinking.