"a logical investor in this stock would stay put with their investment in PTSC at this time"

I think that's the crux of your post and also gives you the answer as to why it's probably NOT S&L selling.  S&L have better information as to what's going on than ANY of us.  Also, during the run up to 60 cents over 12M shares traded last week.  While we feel confident PTSC's on the verge, many traders are quite happy to have a 10-50% gain in trades in less than 2 weeks.  I think the sellers are simply those who bought in the 40's & low 50's turning a quick buck.