Vayama and dollarfast,When you can identify the parties who sold...

Vayama and dollarfast,

When you can identify the parties who sold in volume, and get their sworn statements that the facts announced were the reason they dumped so heavily, then you can make a supported statement that the announcement was in fact the reason.

At the moment, you are assuming the announcement caused the dump, rather than being used as the excuse to hide the real reason.

The announcement did not say that there was no gas, The announcement said that the problem was with the well, not the reservoir. But if you want to believe that the announcement is what caused a dump of that nature, on the open, within seconds, rather than a big player with an options position pushing the market to where he wanted it, bang on the long term trend line so he could collect big time, you go right ahead.

The funny thing is, I emailed a mate on that morning to tell him what the opening price would most likely be, and when to exit a pop long. I was off by 7 cents, and I dont read the future. He made 1.30 per share. I can also tell you that the facts announced had absolutely nothing to do with that, as distinct from the fact that there was an announcement, and a technical read of the pre-open action.

So while I agree that the 2 events are linked, I have absolute faith that one did not cause the other, just like I have absolute faith that the Greek debt problem did not cause the current world wide retrace. It may convenient for the media to attempt to link the two to make it appear that journalists know what is going on with the major players on world markets, but that does not make it true. It just means journo's tell stories.