With the Algo traders dominating the volume just about everyday, it is hard to get an understanding why stocks behave like they do. The only thing I am seeing is the 50 day moving average is a risistence poin which we have been struggling to overcome the last 3 trading days. Technically, it looks like we may get through it but these Algos make technical trading somewhat moot if Macro headlines cause them to line up as sellers from here. Let's hope they don't.
I follow PWE, ERF, and PGH and they all traded the same today. My guess is market makers are looking for a way out and are shorting inter-day hoping for a pullback in the market before earnings to cover their trading shorts.