It's begun- Shorters beginning to close their PNV positions, page-29

I couldn't have put it better Doc. To add to your comments, the key element missing from the argument is volume of trading.

When LTH are sellers in large numbers the SP will drop. When they hold in large numbers and buy on dips, that also provides SP support as recently shown by DW and some of the holders on this forum.

Also, the assumption that LTH never trade is erroneous. Some maintain a certain level of holding but trade parcels to take advantage of poor market understanding of the Company during various macro trends or unjustified short-selling as well as portfolio balancing and so on.

If a holder such as @grunter7956 or some others like myself are watching and analyzing a particular company for a long time they are also actually likely to have very good understanding of what is going on with that given company. In my view is the key ingredient to being an investor.