You would think that the stock would have run today.
I am thinking that the mutual funds and hedge funds that have to report their holdings at the end of the Q sold into the gains from yesterday. Last thing a institution wants to show their investors is that they held onto this from 110 or so to 12.
Maybe after the end of March we might see the momentum shift. Just a thought.
My guess is that you have a lot of asset managers who are suing the pop to sell out before they have to report their holdings at the end of the quarter. I am thinking that pressure will be in place until the beginning of April.