sellers meet buyers pretty willingly here around $3.00 per share, and they do so in size. I do not think the sellers have finished yet, but at least you won't be able to blame it on tax or year-end portfolio adjustment considerations anymore. I simply think they sold as much as the market would allow them to sell for the time being, which was quite a lot of stock over the past few months. I still expect nearly the entire float in the stock to turnover to new hands as investors look for a new start in 2013. Good news is, we are already over half way there IMO. The old loyal base could be gone after 4 years of disappointment, but new fresh eyes and stronger hands could help the stock over the intermediate/longer term.
BTW, you could be right about 2013. Although the spending, debt and deficit concerns are still there and Europe is far from solved, there are several positives. 1.Tax policy could be more certain and less onerous than expected for individuals. 2. China and Japan are really priming the pump to drive growth. 3.Homeowner equity in the U.S. is improving considerably at the same time debt is being paid down. 4.Stocks are still cheap relative to bonds and interest rates.