When you call the TA one should not ask what are the shares outstanding, but what was Cede & Co. position as of August 1, 2011, and every first of the month's position by Cede & Co. every subsequent month.
This will tell you what shares have been deposited for sale on a monthly basis. Too bad we cannot get our hands on the security position report from DTCC. That will tell us who is selling.
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