they saw the spike after great earnings. This gave shorts the ability to take out new stop losses that individuals put in place to protect their big gains. As they took out some stops individuals got scared and sold even more. They continued into today as long as they can, but they know the cc is coming. I wouldn't be surprised to see an up move right before the call starts or just as it starts to make sure no surprises are waiting. As long as the cc is solid as it should be this will be up big in the afternoon. Just my take.