Everybody scratching the head and asking what's with API. Well, I consulted with an expert and this is what he told me.
API has low volume, no coverage by any firm, no estimate for next Q or year and very low PPS. There are some professional groups who look for this kind of stocks. API is targeted by one of these groups. What they do is: Buy a few hundred thousand shares at low and then buy some more to push it high. At high short it and then start selling their shares from high to low to push it down. At low, they will cover their shorts. They work with chart and follow the chart and buy or sell accordingly.
API probably was shorted at $2.50-$2.52. Gradual drop means selling shares piece by piece everyday. The chart points to $1.75 to $1.50 for support. Low volume means no short covering yet.
What you have to do: This people are called sharks. You don't stand in front of the sharks but you follow them. Sharks swim low and if you stand above them then you are gone. So just follow them and as they feed, you may get some piece of the action too. That means, if they sell, you sell with them and when they buy, you buy with them. Some may call it trend and trend is the only friend you have in this market.