Everytime a good bid to buy jumps in, there comes the 10x's more to sell. This is not the shorts folks!! This is worse!!
Probably the mutual funds window dressing. Theyjust got back from vacation from over the Labor Day Weekend. Now they are cleaning house and dressing up their portfolios for end of quarter so as not to reflect BTU among issues they hold since it's been a loser this round. Appearances and obfuscations are everything tomutual fund managers.The same jerks will buy it back after hurricane season and after NG has bottomed out...end ofOctober, beginning of November.It is what is commonly known as 'sector rotation',and anything that comes in its path [violates this tenet of investing] will be decimated.Anything to do with energy right now is taboo.I'm only nibbling here, but I really like thestock !
If I'm reading this chart correctly, most of the selling seems to be non-institutional and non-retail activity (eg hedge funds)http://thomson.finance.lycos.com/lycos/iwatch/cgi-bin/iw_ticker?ticker=btu