Institutions close losing positions in November...
..SPN has clearly been a loser lately and a LOT of institutional selling will occur in November. Look into that because I think you can grab some cheap shares in December. I really think it is going to $28-$30 by November and should start its rebound in December $30-$40.
and don't get me wrong. I think SPN is a wonderful company. It has a strong business and deserves to be at least $45 right now BUT the fact that institutional selling on poor performing stocks begins in November most probably will drag SPN down under $30.
At that point, I really think it will go back to $40-$42 by February 2008