People are selling anything to raise capital for whatever reasons; safety to cash, cover margin calls, deleveraging. Fundamentals are out the window until all the sellers are out and we reached a capitulation.

Getting close I'd say. 5 year support on the S&P 500 index is fast approaching. Mutual funds buried in redemptions as the little guy throws in the towel, plus GE printed a 13% gain on the day. And did you catch that rise towards the end? Yeah, it got sold - no one wants to be long over the weekend - but I'm guessing we'll see something more than just throwing money at the problem emerge, say a global write-off of credit derivatives? Has to happen - it's just a matter of how and when.

Interesting times.

ebear