Today is definetely not a 'panic' sellof, I would call it a controlled sellof, which doesn't seem to bode well for the upcoming weeks. Also think somne of the bigger counterparts are going to be unhappy with the performance of cfc this week. Bring back the vol and happy trading next week.
I do agree it is not much of a sellof, but am a little surprised by this action on expiration. I am looking forward to next week. Don't care whether we go up or down, but volitilaty will be up. And I like volatility.
I agree its controlled. Is'nt this selling just the result of the Funds liquidating due to July's market action. Punters... cough... "Investors" handed their redemption-notice's in July and now is the time (standard 3 months) clear these redemptions off the funds books.
yes it was controlled. that said.its usually a day like this that starts a new trend and can lead to one of those panic selling days.panic selling usually happens near the end of a downtrend.
Face it, everyone simply pulled their "bids" after 2PM Eastern Time. The market caved-in on not much volume, sans the oil issues and drillers.
what has me worried more is the 'controlled' selling thats been propping up the yen during asian trading.