1. Crude supplies at 22 yr. high.
2. Europe still in deep recession
3. Upgrades by analysts.
4. Beat last earnings est. last Q by over 40% and never rewarded.
5. Too much positive news from company and not enough negative. Contrarian theory.
6. Overall market on downward trend now.
Time to ride it down and recoup losses from expecting bump and going opposite way. Don't fight it.
Wow, you were so upbeat about this stock earlier this year. I can understand though with this price action. I would only say that I think this is being pushed down by high speed trading and possibly fund rotation out of energy but will probably stop or settle soon as we reach the 52-week lows around mid $19's. I think there could be a bit more to the downside, but I wouldn't put a short on right here, the place to do that was $3 dollars higher. At some point value does come into play and I think we'll be there in the not to distant future. High speed traders can push this price higher as fast as they do on the downside. It's not like Microsoft where there are billions of shares on the market and takes a lot of volume to move the needle.
High speed trading? lol. Try the specialists manipulating due to lack of real interest now. Kicking out stops and then inducing buy orders with fluctuation in range.
Goes up early then comes down. Rinse and repeat.