Still too easy for the market makers to manipulate this down, especially when we get into that 4th or 5th week before an operational update. They always seem to take advantage of that quiet time. I was hoping that trend wouldn't continue this time around, but it looks like we'll just have to tough it out until next week.
it's called the Bob Watson effect.....people get nervous before the earnings call due to his leadership.....I'm holding here. Have been since 2005...buying and selling along the way. And praying for a buyout!! ;-)
IMO, this will be a strong quarter. As stated, some are selling because of dropping crude prices, and some are locking in gains fearing what you might be thinking. I am just as bullish now as I've ever been. Take that for what it's worth. Let's Ride!
US crude inventories have been building exceeding predictions the last three weeks, sending WTI down to last July's levels, and more supply is coming on, a bearish climate for the time being. Although AXAS production level will be way up, SP probably will not benefit as much now.
Timing is everything, MGD you may be on.
Neon, got it backwards, shorts covering would provide SP support in my book.
It appears the S&P may be entering another down cycle having crested, similar to the last several cycles in this up channel.