jds------There was a lot of dumping initially as you say, but where the money went to is what happened during the run back up. After looking at all the different market volumes today during the selloff and then the move back up {European markets, Treasuries, U.S. main cash and futures markets} this is the only correlation I can come up with that matches the excess volume we had here in stocks and futures. The European markets performance lately has been out of alignment with there actual economic situations, so today looked like a forced profit taking with all the possible new circumstances. The European sellers move to our market is a short term move while many re-evaluate their next rotation in my opinion. There seemed to be some heavy rotation out of treasuries into the stock market today as another part of the increased buying from mid-day on. Another very interesting observation today was the Euro's move and the lack of any solid move in Gold for the type of news we had.