Galaxy... GXY... Chart..., page-1791

I think the market was waiting on an announcement that GXY had found a JV partner to which it had sold a sizable slice of SDV. Those people were disappointed by a pedestrian announcement that GXY had secured a credit facility on obviously better terms than the one expring in March. So, two causes to sell: 1 no JV possibly for maybe months; 2 no capital injection.

Now, these people would be idiots, but there were enough of them to be joined by a truly massive body of short positions.

That in my opinion is what happened today.