I doubled my position this morning at 199...I bought the first position at 115 in April so I'm sitting pretty. Sold my APPL to buy PXD...looking for 220-230 by year end and will then sell the newest position.
Growth has gotten a premium in the past year. Earnings aren't important; focus is on increasing revenue. Look at TSLA, CMG, NFLX, etc. Now we have some investors who no longer want to pay for growth without earnings. It is a bubble and it doesn't take much to burst it.
I hope you are correct. When the big money managers want to move it one way or the other, they just run over us little guys. I've owned 1000 shares for a few months, but I don't want to sell it. I think that the long term play is good. My son's company services several drillers in Midland and there is a tremendous amount of activity going on there