I printed this out and filed in a folder I am handing my two sons when they are old enough to trade. This is such a good explanation of what can move stocks at a granular level that it reminds me of some of the vignettes in Reminiscences of a Stock Operator.
While I respect the poster who wrote that, every EVEP chart you can look at goes from top left to bottom right. No one needs to drop a few thousand shares to beat down the stock price. You just wait a while. It goes down on it's own.
His theory of a replacement strategy, though, definitely fits. There still is the belief, EVEP will jump on a deal announcement. Buying units here is still risky as a "no deal" has about $10 worth of downside. The strategy may be selling but hedging the "Upside risk"
the selling isn't "weak hands" getting scared. The units being sold are people seeing EVEP go down while everything else in their portfolio going up. My disposition was a little different in Nov and Dec when ALL MLP's went down. Now, pretty much all MLP's are going up. EVEP is bleeding.