Amateur hour here. But this coincides with BG's prediction of...

Amateur hour here.

But this coincides with BG's prediction of running out of ammunition.
This of course could change just the same as the heart protection announcement I think would have seen a new rerate.
But I think the SPP cooled off the buying a little, the traders went back to their caves and the hype train has been pushed back into its station.
Retail / Commsec (broker data from OTG) suggests attention moved to the SPP instead of the market price and retail did some selling down (either retail punters looking to trade, holders selling to fund SPP or people even taking losses or jumping off the hype train - whatever, it doesn't matter, the fact is the selling happened).
BG selling has control again and we probably see the same games being played out unless another major announcement comes (which, coincidentally by RAC's timeline, will probably be around the time above).

Looks like one big pennant, but I suspect its got a bit of legs left in it yet (BG).

But, this is just my 2c (that's probably worth even less than that).

Another alternative I see:
The SPP is oversubscribed and a huge scale back occurs.
People scramble to purchase shares under $3 with the refunds and generates new momentum.