No doubt much of the drop of past weeks was from traders who started worrying about too small a number of Model 3s popping up in the wild and sold. Some market actions are harder to pin down. Was the heavy selling (over 100K shares/min at times) early this morning shorts manipulating the stock or worried traders closing out? Of course it was a mixture of both. Weak longs may have slept poorly last night and resolved to get out at market open, which could account for the big volumes. On the other hand, why was volume so low on the "sell on open" option, which would minimize the effect on the stock price? In other actions, though, it's pretty clear who is driving the dips. Deep dips with immediate near-recoveries, amazingly horizontal trading (capping) when there's pressure for the stock to rise, sticky dips, dips on steroids, slow descents into closing when volume is light, these all have the fingerprints of shorts. It is these actions of the shorts that start the stock heading down, in many cases, and worried long traders are often influenced by the price actions caused by short manipulations as well as being influenced by Model 3s spotted in the wild. The trick is to try and qualify what is going on by asking "would longs who wish to decrease their holdings sell in such a fashion?" In many cases the answer is "no".
