This could suggest a cooling off in the awesome rally we have had in the short-term.
However I cannot dismiss the thought of today being the day the T+3 traders sell their holdings. This would settle the trades which took place during the big rise on Tuesday (12/10/2010). I also recall your comments on naked shorting, etc. What if there was a simpler explanation? T+3'ers who bought on Tuesday sold today to settle their Tuesday buys and then buy back in hopefully at a lower price i.e. "renew" their T+3 holding. Just a hunch.
And/or could it be that the results expected tomorrow (see "Go Reds" post) triggered the late buying?
AQR Price at posting:
45.5¢ Sentiment: Hold Disclosure: Held
