Unfortunately, it isnt fake selling pressure. Its very real. I've seen enough downside price manipulation to last a life time. Beleive me - this aint it. This is panic selling by hedgefunds who bought massive amounts of shares in June - 70 million in 3 days! - now facing redemptions and margin calls they are being forced to unwind them with zero regard for price.

Buyers, are picking some up but for the most part stand aside and let the collapse happen. They'll come in big time when the selling is complete until then there is no way to know how far it goes.

Shorts are of course aware of this and have been adding more pressure to the downside. When the funds are done the shorts will have to cover and that will add to the acceleration up but not until the sellers have dumped all they have.

On a bit of a bright note, the hedgefund timetable is end of q3 that happened 2 days ago. I think that they have a few days after the 30th to complete transactions. I believe that one or two may have tried to outwait the others by going into Oct hoping to sell into a recovery rally. Well that clearly didnt materialize and now they are completely out of time. If this theory is accurate it'll be done in a couple of days and we can begin the upside reversal that buyers are wanting to see before they come in.