Why would the Treasury announce their intent to sell 1.5B share (of their 7.7M shares) today?
I do not understand it. They already told investors there is a planned program to sell the shares. All investors need to know now is when they are done selling. Also, I don't buy it. I witnessed the tick-by-tick, and there is some transactions going on in the past two weeks. (With +1B shares trading, some had to have been the gov. shares.)
The only reason I can think of for announcing the amount sold is for investors to know, (creating more certainty) allowing the stock to trade at a higher range for their selling.
Don't get me wrong, the decline fits into my Citi thesis beautifully. The trading range may have to be elevated, pending on market strength. So I purchased shares today. If Citi goes to my original range I will add heavily.