I don't care what the level 2 "shows". What I know is SAFC volume the last week of august was down to 170k shares the day before about 15 mil new shares hit the market and around volume broke 20 mil while the price dropped. Last week volume was around 2 mil escept the day after SAFC increased the OS by 15 mil and the volume hit 16 mil. Yesterday or today SAFC added another 4 mil shares while volume jumped from 704k shares to 8.3 mil shares--shortreport.com says over 50% or that was short sales.
It is not difficult to see the pattern where SAFC issues shares and the volume bumps up enough for those shares to get dumped. Also, the only way a PPS drops on exponentially higher volume is bad news or dumping.
Thanfully, there was enough demand today that even the new shares and all the short selling did not drop the price. It will take a lot of demand to grow the PPS if the combined number of new and non-existent shares being sold remains high.
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