Judged:
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http://www.topix.net/business/2008/11/stocks-...The market plunge in OCT was people pulling their money from funds in anticipation of an Obama presidency of higher capital gains taxes.
Why hold this year when you can sell for a gain at a lower tax rate this year.
Keep in mind this selling began when it was profitable and when there was doubt (and still is) about the credit crisis.
Today's "market hold up" was short covering and an oversold bounce.
The down leg took a breather to build up more steam for next week's hedge fund selling and tax loss selling.
DOW 8K here we come.




