I'm not sure who is selling, but the only reason I could see the big NY money selling is to create a situation whereby any remaining weak Longs would dump their shares so NY big pockets could buy. Leeb mentioned a similar scenario on King World's blog yesterday in which a big money manager wanted to buy more shares of a target company and therefore he ordered his head trader to sell off shares of the target company so he could buy more shares later at a cheaper price. Clearly the lastest trading action of SF occuring at low prices on high volume would seem to be a candidate for this type of accumulation strategy:

"Today acclaimed money manager Stephen Leeb shocked King World News when he said his friend was at the office of a major hedge fund operator, “... when the instructions the head of the hedge fund was giving to one of his traders was, ‘Sell it, and sell it stupid. And make sure people just don’t know where the selling is coming from and why it’s coming.’”"