What you are seeing is jitters about a shaky market , no news , light volume and nail biting about earnings coming up . If O2 beats earnings as they often do , it will jump and get back on track , if not we'll stumble along for a while more . However , the fact of the matter is O2 is way way oversold . Unless the market collapses it should bounce back shortly , but at the moment I believe it's mostly earnings jitters .