2 of the biggest names in the game have sold their long positions of CVI! These guys are the best of the best, they have the knowledge, the skill, and the media! We all know how powerful the media is, these guys can be seen on TV while your enjoying your dinner night after night! When they say something the market moves and in this case they sold their position. Both of these guys have multi million dollar positions and they when buy or sell, it moves the stock! Soro's and Tepper declared their selling of CVI! why? well they too thought it was overbought!
For all we know they could have placed a short bet now, ride it down, why not? I Know i would!
Make sure your on the right side of the trade when there are people involved such as the 2 names mentioned above!
Soro's and David really made a huge impact on CVI, if you look at the daily chart you'll notice that its struggling to move up, every time it tries to break out; it get thrown back down! Even on time and sales, there are more sellers than buyers. I don't think CVI has much more more to move, it is at its peak and now it is calling for a trend change :)