When there is a distressed seller, the brokers deliberately cap and slam it down hard for the crosses. I find it distasteful that the broker id's are deliberately switched off on the retail accounts to make it hard to figure out what is going on.
I always try to buy at times like these, and I have increased by 1/3 at 14.5 and 13c today.
You have to approach it with the understanding that the funds doing the selling are doing it using OPM (Other peoples money). In a few months some retires will get their statements and wonder why they took another hit this year.
From a fund managers point of view - it's ok as long as everybody else is doing it.
MCW Price at posting:
13.0¢ Sentiment: LT Buy Disclosure: Held