Dont forget, for every seller--there has to be a buyer. That obvious statement said, who do you think is buying here? Other than guys like me, who are not common, we arent going over 4 million in volume everyday because joe public are buying 100 share lots. The weak hands are selling. Some of whom were too stupid to take profits off the table like you and I.
These so called investors--some are my friends who own many shares--refused to sell in the 40's, 30's, only to sell in the high 20's and below. I told at least 4 people who own 10k share or more to sell in the the high 30's. Then I begged them in the low 30's. Now they are selling. Too late.
That being said these guys still got fat off the stock. They, like me had low cost averages in the stock.
Make no mistake, the institutions are happier than pigs in slop. They are all over IGT.
Dave, in the last six months, while the stock has taken this $10 haircut from 35 to 25, the volume has averaged over 3.5 million. That is huge volume for this stock--you remember what the volume was like a year ago, etc.. If we hit two million or more, that was strong. Hell, I remember when the volume was a couple of hundred thousand--but that was an eternity ago--so it seems.