....this will be one of the more interesting Mondays for a long...

....this will be one of the more interesting Mondays for a long long time.....market wants to go but not sure whether that selling has finished....my envelope numbers say

total $ value of XJO Friday = 9.611B
less abnormal TLS transfers = 3.336B

= 6.275B normal turnover

average turnover priors days 5.000-5.500

Fridays selldown raised .775-1.2B

TLS sales was worth 2.4m....depends whether any cash was available before rebalancing portfolios (and assuming the above normal daily $ turnover was all selling, rather than selling and buying)

if these numbers are correct we may have only seen 33% or less of this rebalancing

my thinking is we'll get a nice big spike which will bring on the depth for the funds to sell into as the day progresses

damn nice timing with overseas breakout