RE: all stocks have a pullbackWell, I was not all that surprised and we will have a good buy-in bargain in a while coming up. I sold out today, too.
Bears are getting stronger for CHX. The market hesitated a bit last week, but finally confirmed the bearish pattern with a one day delay when it opened on Friday with a gap-down. The day’s activity resulted in a close lower than the open. This is a valid bearish confirmation, esepcially as this pattern was repeated today (so far).
I hope that you sold or are selling this stock today. You should watch the downward gap in the opening tomorrow, wait a bit, feel the bearish tendency of the market making sure that prices stay below the opening price and then sell your shares. Your benchmark was the opening price of the downward gap today. A weakness in prices is implied as long as the prices stay below the benchmark, which they are.
If you sold, keep away from this stock until the confirmation of a new buy, which in due course there will be, particularly if there are some tangible news released. I'll be waiting on the sidelines, although it would be nice to see some meat instead of promises. Otherwise the pumping conspiracy theorists will start to come out of the woodwork.