Yeah, clearly this is mind boggling. I'm thinking it may be a bull trap, meaning traders who bought higher run it back up, only to take their profits and go short for the run down.

That way, the bigger players can get out at the higher prices. I think this happens more than people realize.

As for IEX, clearly the fundamentals are very weak, and getting weaker. The analyst gave this a $16 PPS target, and it's trading up to $23.54...you're right, it looks like a good short.