Ok let me get this straight - 12000 funds, funds of funds, hedged funds, funds hedged with funds and this happens?
In other words some chump change stock (NEW) can't make their margin calls and every fund manager in the entire world sells everything they can get their hands on to bring the Dow Jones Industrial Average low and then exactly 24 hours + a little bit later they begin to buy it all up again.
It must be nice to have unlimited funds and no commission costs.
But that's not the point - the point is - if you are hedged against disaster, and I mean really hedged, why do you sell off? In other words - is it possible that these guys are all hat and no cattle and that they are just as fearful as the retail trade upon which they prey?
Something is not right here folks and if you aren't asking yourself WTF? then you are just too complacent.