Though it could have been S&L letting loose of a few, I'm thinking it's more likely that the MMs found a bunch of people with stop loss orders in at 40 cents.  Just before the downdraft, I noted that there were no less than 8 MMs lined up at 40 cents (when the bid was above .40).  They dipped it down and took them out.

S&L "dumping", if that was part of it (as I doubt he's using 8+ brokerages, ergo MMs), was an extremely minor "dump" considering his treasury chest full of shares.  I gotta think that Swartz is more than likely sitting tight like most of the rest of us, waiting on Ward's ruling.  Think of what he said at the SHM - could go to $4.  With that in mind, you think he's anxious to "dump" at one tenth of that?

JMHOs,

SGE