So this afteroon's last-minute selloff was due to hedge funds cashing out holdings before a Saturday deadline--sort of like window dressing in reverse. The significance? Zero in the long-term scheme of things. When these late selloffs occur, a bunch of folks here act like it's some monumental event that has predictive power over the coming months. However, when a last-minute rally occurs, it's just a meaningless event "due to buy programs triggering together" or everyone's favorite scapegoat, the PPT. The majority of time, neither late rallies nor selloffs mean much of anything...unless inside information was leaked. We're still seeing fund redemptions, but the data shows they've peaked. Today was obviously different b/c of the deadline. OK, now we can go back to discussing meaningful trading topics like the coming food riots.