Mike,

Yes, agree on most of your points - shareholders need updates from management and they are not restricted to releasing 'material' news on quarterly updates only etc. etc.

But my take on the below is different:

"Over 100000 shares traded and little increase in price. That's not some one buying on some sort of insider news. That's some one(s) selling on lack of news."

If you watched the pattern that day, the bids were chasing the ask all day, rather than someone selling agressively at the highiest available bid. The little increase in percentage terms was not so little. For someone to purchase shares at a 50% premium to the prior day seemed to me far more significant that someone selling probably to bank profilts. IMO.