Haven't looked at the trading patterns, but I do know a few proprietary traders, and they love stocks like this. Decent volume, big intra day price movements, and likely too small for the algo black boxes to jump in front of them. If this is the case, it suddenly becomes less about PSN's fundamentals and more about muscling around the small guys, like moi ici, and those who are over leveraged and portfolio overweighted and fearful. The folks that sit on these desks make their livings exploiting these types of situations.
The Q3 results were disappointing, but the cash and outlook on PSN appears too solid, IMHO, to warrant this kind of pricing volatility. I welcome other thoughts and constuctive dialogue on the trading patterns this week.