The stock is oversold and hovering around oversold levels as measured by the RSI at 32.76 on the daily chart.
I always try to understand what the numbers mean and how they are computed. I can't find the 150m number. It probably exists but I don't know what period it covers.
I added up the institutional trades reported on SEC Form 13 and in the quarters ending 6/30 and 9/30 (from J3SG site entries) there was an increase in institutional ownership by 36mill shares and not a reduction.. The largest liquidation was -13m shares by LANSDOWNE PARTNERS LIMITED PARTNERSHIP and the next largest was -8m shares by CAPITAL RESEARCH GLOBAL INVESTORS.
Largest adds were 19.8m by Goldman Sachs, 9m by STATE STREET CORP, WADDELL & REED FINANCIAL INC and BLACKROCK INSTITUTIONAL TRUST COMPANY.
I just can't find any evidence of a 150m reduction in institutional ownership.
What is happening is a continual 1mil shares shorted every day. The short interest is now over 4% which is starting to a level that is going have some covering. What has happened is the continual increase in short interest. The short interst is over 200,750,947 for the first time I have been watching it.
Settlement Date / Short Interest / Avg Daily Share Volume / Days To Cover
10/31/2012 200,750,947 60,425,032 3.322314
It appears to me that the short interest has reached nearly 2x the normal run rate.