cheynew, yes the Friday PPHM trading was the consequence of Thursdays and todays is in line with that.
Someone has no repeatably been 'preparing' the sentiment by dropping big block of shares JUST before a main even (just as they do before the annual and quarterlies).
Psychologically people see news, watch the PPS and then conclude if the news what good or bad, often without really understanding. This might keep hundreds of potential investors from saying: Hey this sounds good let build a small position.
I think somewhere there is a deficit or near break even situation in a short position that tries to get in the green by dropping blocks and hoping this time it will work. But the MM say and knows that too. So he will always collect the shares and move 3 cent to the other direction to give them back (minimum). So if there are no other buyers you get a flat line.
One party isn't prepared to move to the MM and the MM has no incentive to come down. So the next day they drop another block, hoping to hit the stops, but the MM will now continue to catch those blocks if there are no other buyers. A short drop MUST succeed from the first time because otherwise you dig yourself in. And even seeing the PPS go down some still doesn't solve the problem because the shorting average goes down do. See the bombing around 10:15AM...recovered in 15-30 minutes tops.
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