RE:Are We at the Bottom?Retiredcf - I was noticing the same thing myself, and it left me to wonder if this is an anomaly, or if it is indeed indicative of some sort of bottom (at least short term bottom).
Oil is down, markets are down, yet despite this, certain energy stocks (not just WCP) are climbing in the face of continued bearishness. I'm not sure if one should read too much into this, but it is curious nevertheless.
Just as energy stocks as a group led the market downward (beginning 18 months ago), perhaps savvy investors are reading the tea leaves and stepping into these stocks on days when they think there will be stronger selling from retail. Or it could be traders covering their shorts and closing their positions.
Either way, it's probably risky to be short some of these energy stocks right now. Much of the gains from shorting have probably already been made. Certain traders, perhaps having realized this, could be covering short positions, which is my guess as to why many energy stocks are slightly up on what one would expect to be a down day.
GLTA
C