Roger if I may try to fill in some gaps in what you are asking...

Roger

if I may try to fill in some gaps in what you are asking or wondering why today's action was as it was.

From what you've said and the few number of posts you have, I'm taking it that you're a relatively new to trading, after all, the price goes down on great news is certainly something that baffles newbies, and this is what you've indicated.

There are several reasons for it and one of the most common explanations is, 'buy the rumour, sell the news.'

That is certainly one predominate cause, but we can expand on it too. You'll often here that the price is pushed down by pros so that they can take-up the shares. This too occurs, and I suppose we can put the bots in here as well. They may do this for other reasons other than merely absorbing the free float.

Another point of interest is stop-loss 'selling,' which can be connected to the above. If there is any downward price movement, which is to be expected in highly liquid stocks, then it can cause a cascade of 'accidental' selling by stop-losses getting hit. There are cases where it has made stocks completely tank when there was no real apparent reason for it.

In today's case, we might enquire why didn't the price just keep rising like it did when Dorado first came to light to the broader market? Some have suggested on these threads that the news today wasn't as spectacular as anticipated, but I'm not convinced about this. So what other reason?

During the last massive spike up, there was much new money coming in from both pro and retailers. Everyone was taking their positions, but by now, 'everyone' was set. Such high amounts of new investment will always push the price up if it is greater then the investors who are exiting, especially when it is obviously too early to exit.

In my mind, today did not see the same buying pressure, as it was old money, not new. Without it, the price would be at the mercy of all the aforementioned factors. However, it will reach a point where the supply becomes exhausted (bottom). Then normally a period of accumulation sets in for the believers, or further lower prices if news is not forthcoming and holders exit over time.

This will not be the case for CVN. As I suggested in my other post, I believe we'll rebound commencing tomorrow because the willing supply is exhausted or near to it, coupled with the investment of new money, and of course, the re-investment of much of those who exited today.

Good luck with it.