Do not think for a moment that anything a big investment bank would do at that level is open market trading. These are the founding members of that nefarious club of "off-track bankers" who live in a world of derivatives and manipulation. You and I will never know what these trades represent, but it is exceedingly unlikely they represent blind/fair market trades. Without knowing the motivation, you can be assured much of these are pre-arranged trades , possibly swapped with trades in other equities. These markets are so heavily manipulated currently , in the absence of hard news drivers, that you need to just hold your nose and look 3 to 6 months out. Again, with the last PP being under water, it is possible we are seeing the price held down while the pp participants average down. For me, a great time to load up before they take it back out of sight. The current strength in the overall market tells me time is short.