Down 8.5% in two days with no news and a p/e of 4.8, I should have been short.
It's the whole quick get out before the next guy thing. Trading has nothing to do with reality or fundamentals. Those shorts even knocked it down from the fundamentally low price after earnings of 9.40.
I wish we could go back to the days when a company's fundamentals mattered, but you are so right...they mean very little in this market. A company like Tenet Healthcare gets a downgrade a couple days ago so they push it down $3.00 overnight, it has already returned halfway to where it was. It is a time bomb waiting for the next leg down. This is a good little company that can't get it's mojo back with the traders, unless you are short.