"The creator of litecoin has sold off all his holdings in the cryptocurrency, citing a perceived conflict of interest.
Writing in a Reddit post this morning, developer Charlie Lee explained he no longer wants to fend off allegations his remarks about litecoin's price are being done for his personal enrichment, and that he saw the sale as the best way to ensure transparency over his actions."

Seen at: https://www.coindesk.com/litecoin-creator-sells-off-holdings-citing-conflict-interest/

C'mon dude...chill out with that racism. It's a coin that you can still sell near an all time high if you hate him so much.

The deeper the correction the stronger the charge when its over. Right now TA is useless, as BTC is in control of what LTC is doing. It seems that we've locked in to it and tried to break out yesterday but the BCash thing completely ruined the party.
Charlie Lee selling his stack is not bullish, but it's not as bearish as people think. He's an interesting dude and tries sometimes too hard to be clear and transparent (with good intentions of course), which sometimes fails him as it is seen by the general public as a bad sign or bad PR.
Ultimately, once Bcash trading goes live on GDAX and the storms settle down, we'll see actual movement and return to normal for LTC. I still see us in the $320+ area as Charlie selling his coins is not the main reason for this downside.
The current downside completely mirrors what BTC is doing, which is panicking ahead of Bcash trading.