RE: predictions?So far SKY has enjoyed tremendous support and lots of publicity for such a long shot play. My prediction is that we'll see a typical "capitulation phase" sell-off into the mid-twenties sometime soon, probably before the end of October. Smart money will be buying when the pumpers here are crying. After that we'll see a little flurry into the thirties in November followed by a bit of tax loss selling taking us into the twenties again before year-end. The new spec cycle will begin slowly in January. By April or May, momentum will carry SKY higher as the drill bit sinks lower.
This deal was never hugely overbought, not at all like some of this year's stellar catastrophes like VTX, or the GUL-ENG-CWV fiasco (check out those charts if you want to understand pain). I predict even the bagholders in at 72 cents here will get a chance to bail at that price or higher if they are willing to wait until next year. IMHO.