it is kind of unreal that 10 million shares traded today. Isn't that about 20% of the total shares. It does seem to be a concerted effort. The Forbes article last week indicating that short interest rose 44% in one month should have been a leading indicator that this was going to come to a head. Either the shorts would get squeezed or they would win the day. Without news I guess it was inevitable. The insider selling, while maybe not the cause, did nothing to help the longs hold the line. I just finished reading Dick Winters biography and one of his key points on leadership was that soldiers respected leaders that were out there with them putting their rear ends on the line too. But I digress. Someone clearly saw this one was ripe for the shorting and had plenty of cash and enough friends to make it happen. I don't know if PJ was a tool or just good fortune for them but the weakly worded downgrade does make me wonder. Next time I see the short sharks smelling blood I'm getting my tail back in the boat.
The fact that we won't generate 10+ mil shares when actual positive news is reported, in contrast to an opinion of maybees and coulds, should tell you something about today's action. To generate this kind of volume, out of nowhere, without actual news,requires a concerted effort and should send flashing signals on the SEC's screens.This is not a normal reaction to a poorly written downgrade by an analyst.
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