Outstanding shares has a bit to do with holding down the SP growth but today's trading is extremely volitile and irratic with averaging up and down, day trades across the board, profit taking, etc. Look at Sage Gold as an example today. Open high .50's, up to .80, back to .40 and now .60. Rediculous and not based on fundamentals. SPQ is very steady with good volume, just what you'd expect ahead of news.
Stay put or buy. IMO