Nice move by the MMs-sell shares to drive the price down to take out your stop loss and then buy back cheaper. Once they are finished with their manipulation, BTU will go higher and finish up for the day.
I think you nailed it. I also wouldn't be a bit surprised to see the very same MM's or hedgies, or whoever, cover their shorts in front of tomorrow's earnings.
Can you imagine what would happen to the price of this stock (with all the news and sector/company fundamentals going for it) if they beat earnings tomorrow by a couple pennies? Up $3 at least, from today's close. Nobody's going to want to be short in front of tomorrow's numbers.