Strong believers...After the 30% drop in SP.....from April 7 to April 27 the SP dropped another 15% in value.
Approximately 3 million shares were traded during that 15% drop in SP. Some of these shares were brought by investors that wanted to accumulate more shares.
TLT has 291 million shares fully diluted.
3 million shares represent about 1% of the fully diluted shares.
What does the above tell's you?
1) It doesn't take a lot's of shares to drop the SP by 15% (shorts love this).
2) 99% of TLT shares are still in the hands of strong believers.
3) For those investors that hold 99% of TLT shares, the SP doesn't matter, they have done their DD and are waiting for the next trial results.
4) Since nobody know if a BTD request has been made, if not when one will be made, it is very risky to be without TLT shares at this point in time, as news could come out at any time.
As Dr.McFarland says...
"So far so good".