I've agreed with mike on several occasions but I've never shorted or naked shorted any stock. No put options and no interest in the stock falling lower but I can see why it would fall lower over the past few weeks due to the oil market and lack of long-term contracts for the discovery rigs at highly profitable rates.
That said.. I feel that the sell-off on the 23rd was overblown and the stock never should have left the $5 trading range. Therefore, I actually bought some shares at $4.84 and could not believe when it traded down to the 4.60's shortly after I bought. There's no reason the stock should have traded below $5.25 and I don't expect the stock to remain in the low $5 range long either but did see potential for it dropping to $5.25 temporarily based on how much oil prices were dropping. I now see some room to move higher with oil prices stabilizing and hopefully longs took the opportunity to average down when it was selling in the sub-five dollar range.