One of the ideas which can be entertain here is that some funds are unloading their shares in the eve of the TSX decision on changing the composition of the TSX 300 index and possible CLL removal from it.

I do not have up today numbers but in the summer of 2008 index and mutual funds were holding over 4 million shares. Deletion from the index may force index funds to sell CLL shares.

This process may intensified after March 13 (desicion date) and will stabilized after March 20 when new index will start to trade.

After all, conspiracy theory could be just what it is: "venting out" proces for frustrated shareholders.