This precisely the kind of activity that the "Wrong-Way Joe-Public" engages in at or near important lows and then are falling allover themselves to get in the market at or near important highs.
oh i have no doubt that this happens at significant bottoms at all. in fact, i'm counting on it.
nevertheless, abduction is a logical fallacy: if A implies B then you can't conclude that B implies A. i.e. if there is significant mutual fund redemption at bottoms, that doesn't suggest that redemptions imply that we're at a bottom.
in fact, i'd say that all this bottom calling is a sign that the bottom is far far off. january of clinton's last year was also pretty messy in the market. and this mess is far greater than anything during the clinton years.
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