The final hour is when the mutual fund redemptions come in. As I’ve pointed out before, capitulation by the retail investor is just getting started. Any opportunity to get out when the market is up, will be utilized by these kind, and recently poorer folk.
In addition, brokers will be selling off many, many mutual funds that are set to pay year end capital gains in November and December. The question is, will that money be swapped into other funds or ETFs, or will it stay out of the market for the time being?
No luck on the elk. Off to take a nap after market close.
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