djinnes on its knees, page-12

The markets needed a correction, 10% maybe 15%.

The end of the financial year for funds in the States increased volatility.

From Bloomberg;
http://www.bloomberg.com/apps/news?pid=20601087&sid=aKuVVFkJXvso&pos=2

"The selloff today may have been exacerbated because many mutual funds’ fiscal years end in October, causing managers to sell shares to collect profits or book losses for tax purposes, investors and traders said.

Tax-loss selling could be “weighing on the margin,” Wells Capital’s Paulsen said."