But isn't that the point of flash crashes? They are flash crashes and not flash rallies because fear is stronger than greed, at least for that time period?
Whoever believes the fear driving prices higher is even stronger than the fear that drives prices lower ... is smoking something. Stocks/bonds/options/index futures/forex/Pet Rocks, don't matter. Majority are buyers: Mutual funds, the public, long term investors. Hedge funds and traders (defined as those of us who actually trade both directions - gee what a concept) are the minority. Not in pure dollar amounts maybe. I don't know the breakdown nor do I care. The majority panic often when a top sets in. While the inverse a bottom often takes forever to get out of its own way. Though I do agree commodities (softs, energy and metals) can often move up or down equally fast.