I am not an expert, merely an accountant. Just look at JP Morgan...

I am not an expert, merely an accountant. Just look at JP Morgan Nominees (3rd top shareholder) for an example. Dec 2008 they held on behalf of ? (who knows) ; 2777million shares. By March 10th 2009 they held 308 million. We don't know who they are holding for. So they sell a million or two and buy the same or a few more. I have been buying and selling as a day trader and each time the buy side builds up - wham a big seller pops up and keeps the SP down. With over a billion shares changing hands, ( too much for day traders) it has to be the same big buyers/sellers, otherwise we would have a new substanial holder with 1 billion ( 30%) of our company. That's my idea anyway. Without inside knowledge we are only surmising. M.