1. perhaps management foresaw South American problem?

2.perhaps management saw more than $20 longterm

3.perhaps they saw $150+bbl

4.here an overreaction but the brakes had to be put on sometime

5.perhaps they too thought bottom had not been reached

hindsight is great for analysis of the past Connachers management team were not the only ones taken in by lies and deceit,I would submit the majority of this boards memebers wished they had sold @$4-$3-$2 etc etc