RE: RE: Heavy selling in progress...I don't know what anyone is surprised about. The action over the last few days has been entirely predictable, and mimics the same action the stock has seen over the last couple of months. I called this a couple of days ago, for those who read it.
Price appreciation on anticipation of news -> news released -> brief further appreciation in early trading hours -> sell-off. After that comes several days of consolidation at the new, slightly higher range. And the cycle repeats, as long as there are no surprises to change that cycle.
There are plenty of people out there who operate solely on event-driven trades. Anytime there is an event, there are people jumping in and out trying to make a quick buck.
Chill out - this probably wasn't even the news people were expecting. Personally, I was expecting drill results. This news was an entirely pleasant surprise, and extremely bullish for the stock.
Drill results are probably going to be released soon, so stay tuned.