Makes no sense. Probably large fund holder dumped and started the panic sell. If it trades in the $60's, I'll just buy more. I'm a long time holder of NOV and plan to continue to build a strong position in the stock. 5-10% down doesn't bother me much...only that people are missing the big picture of what this company is worth. Same thing with APA...great stock to own for next 5-10 years.
@ntack5 - I agree, with the possible exception of the timeframe. My crystal ball just is not that good. I did not yet get a chance to look at the details of the report, but I did not see anything to change my mind about the valuation. It looks like the prices bounced at $70. Lower prices would tempt me to buy.