The point of interest is the significant volumes being played...

The point of interest is the significant volumes being played each day. The Top 20 holds about 140 million.
This leaves 160 million "loose" shares.
No one really knows how many of these are being held long term. If we assume that the STs and LTs are split 50/50 then there is approximately 80 million shares in the STs hands.
This figure is most likely on the low side but for argument it does show a very large percentage of the same shares are changing hands every few days.
Only the very smartest or luckiest of the TAs would be making a profit on every play and because the trend has been generally downwards, most TAs apart from the shorters would have been burnt at least once.

So the questions are:

"Are the STs starting to tire?"
"Is 34c the pivotal point where the number of LTs overtake the STs?"