Could the recent dramatic swings and volume have been a head-fake? A rumor started and was short-lived? Or did the retirement monies ignite a rally that was joined by day traders (like moths to flame), with the ensuing, inevitable ending?
We have had a few of these situations over the years, but I don't remember one playing out so quickly, start to finish (I assume, we're about done, here).
Perhaps our new "sophisticated investors" are the ingredient that is making the difference this time around. If so, they are certainly the straw that stirs the drink.
While I still feel retirement money has a strong hand in this on the way up, I don't think it was those who bought all of a sudden turning around and selling. But those that did, took advantage of a sizeable percentage increase in the price. Good for them, not for me.