I don't know if this a setup or not.. It's an $8 turnaround for a weak earnings release yesterday. This stock has flushed out a bunch of weak-hands. Buy, Buy!
You couldn't have said it any better. VLO follows the Wall Street old saw precisely, and the volatility will make those old saw-followers tons of money. I don't care if VLO will hit $70 or not.
Its a programmed selling of high P/E stocks. This is perhaps the delayed "Sell in May and go away." There is a vacuum before the next earnings reporting season begins - about one month away.