Because we are in a new bull market that began on October 10th 2008. Also, the fundamentals of US economy have not changed, although stocks have gotten beaten. Funds realize this and are loading up.
stock when you say funds, what kind of funds are you talking about? Both hedge and mutual funds are net sellers because of redemption action. Mutual funds didn't have any meaningful cash on hand to begin with. So which kind of funds are you referring to? New bull mkt started on 10/10/08? That is too ridiclous to even merit a reponse.
That's how bullish trends after market panics play out - strong closes are pretty common. The opens are often weak and the mid-session stuff noisy, it makes it hard to stay long.