I get your drift, and perhaps we'd like to think that, if we owned shares in those quantities, we'd be taking some off the table too. And this action by S&L would explain the recent PPS action.

However, it does overlook one thing that may be pertinent. That is, these guys are speculators, willing to accept excessive risk (as demonstrated in their investment style till now). So, while I honestly believe they are a large part of what is behind the recent action, this might not be the case. Maybe they want hundreds of millions as their ROI. But I can certainly understand if their actions are directed at taking advantage of long term capital gains treatment (I am guilty of sitting on 50K shares of EDIG when it went to $24, because I was only two months away from achieving LTCG treatment, and couldn't stomach giving an extra $250K to Uncle Sam for no apparent reason).

And just maybe all we're seeing is, in reality, our friendly MMs accumulating a huge inventory in preparation for the next big run (which they will control to a large degree).

Well, I certainly don't KNOW!

Somewhat interesting to think through, though...LOL

SGE