Really? As we all know--this meltdown (and that is what it is) is happening pretty much across the baby oil spectrum. It doesn't suggest anything wrong at the heart of any company's strategy but---it doesn't suggest any short squeeze either. On top of that, fear is a punishing thing and affect a lot more groups than just shorts. TPLM is among the weakest of the baby oils in terms of its public position (even though they are among the strongest in terms of efficiencies--well, the word "irony" wasn't invented for nothing). This gives malevolent shorters and avaricious day traders the kind of momentum they could only dream of. More important, it drives good-willed fence-sitters off the fence. A few smart ones pick up low-priced, high value shares but the rest sell out. This is not news--just a reminder that the squeeze could be quite a ways out.
Agree. In reality nothing must happen... except death, as morbid as it sounds. Shorts covering will be icing on the cake if there is good news and follow through. I lightened up my stock position on the breach through $8.50 and bought some calls with hope it goes back to 10-11. Just couldn't take another beating especially if the overall market rolls over. Don't know if today is the beginning of another 7-10% correction or an excuse for some profit taking. As discussed a few days ago, TPLM definitely has some Manipulating Milk Maids skimming away at it. Looked like it was recovering yesterday only to give it back and more today. KOG holding up a little better.