dharry - i keep reading that there are tons of cash on the...

dharry - i keep reading that there are tons of cash on the sideline, i'm curious as to where the commentators are getting this info.
Hedge funds, investment banks etc..surely would have seen the market crossing into the 200MA back in June/july thus its likely that they would have jump in.
With regards to stock valuations, i think the risky sectors such as Reits are fairly undervalue but the bigger sectors like resource, banks are fairly value given the uncertainty that still remains.