The bets have been placed in the 30's and 40's by the likes of goldman sachs and a handful of others. They own large chunks of the outstadning shares. The actual daily float is tiny and as I have stated, anytime someone wants to take a BITE, the stock shoots up 2%. This is what warren buffet talka about when he says do not let stock activity on a daily basis talk to you. This meandering is going on as big players have already been hooked at the 5 year lows of 30-50. Now they are not selling as they know how valuable this stock is(250M+ cash/year) and are just counting down the days till next years 4th quarter reulsts and balance sheet. We will go higher into that earnings report(I roject we are at 80/share by then).
But the action today is just another killed day till cash catches u to valuation and another reason we propel higher as the stock down and the killed day create more value.