It's nothing that we haven't seen before. The previous three trading days we touched the 5.70s but couldn't manage to hold that level. Perhaps we were a bit over bought. It's a pattern that repeats over and over again. It also seems that the big drops happen at the beginning of the week. It's as if someone is anticipating great news and is disappointed when it doesn't appear. Lastly, everyone is discounting the number one contrarie indicator~ "prepare for jumps"
jj - lots of selling going on and the MM's are having a feast day accumulating these shares that are being sold. I don't think it is a hedge fund or an institution selling off because of the odd size lots being sold. The MM's are going to continue to take the available shares to turn them around into a very profitable trade soon!