JB, I think they're a big piece of this selling...once the stock price began to break down and the train started leaving the station, tax harvesting takes a much higher priority. Also, many folks who are smart enough to know how dangerous this inflation is (and will be for some time) have been getting out early given what the Fed will likely have no choice but to do - raise rates meaningfully. Washington DC is playing with fire with this stock market, and I'm not talking about the senseless and irresponsible BBB fluff. Betting on that legislation is a suckers play.
I admit I'm getting more and more worried about this market, and have been raising cash. Whether I touch my PLUG holdings remains to be seen. A lot will depend on what the Fed/Jay tell us tomorrow.
Best of luck to everyone - these are dicey times.
Merry Christmas to all.
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