In my opinion only the weak hands sold after the SEC announcement. If you are around for a while you would have realised that this was actually good news...yes you heard right, good news. The SEC did not reject the proposal straight away, what does this mean?
Well, it means, this time, for the first time, they are giving this serious thoughts...but people have unrealistic expectations, of course they need more time to really evaluate this new proposal. Give me a break.