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Never mind the 25 million shares that traded today in Coldwater Creek (CWTR). The big story is the 5 million that traded yesterday.

I understand from two very reliable sources that a 3 million shares block was sold piecemeal by a single seller through Goldman Sachs Thursday in the hours before the close -- and just before Coldwater warned its fourth quarter would miss expectations. A coincidence? Maybe. Maybe not. Goldman declined comment; Coldwater's spokesperson didn't return my call.

Source: Coldwater: Who Sold Before The Fall?