Portfolio Managers would look to reduce exposure now (as mentioned in the media also). It will be considered as a sign of either complete lethargy or absolute stupidity by their investors, if the MFM don't reduce their exposure now, especially to overbloated pigs. They should soon cash out here also big time IMHO. The major selling would start today around 3pm IMHO. Extreme nimble short-timers or cash strapped mini-shorts have now covered in the last three days. We all know that no new money may come in here, during summer months as the R/R ratio is extremely unfavorable to be a long here for any long duration at this juncture. PE already reflects all the good news/float-controls etc. variables. Now, its only a question of longs slowly booking profits over the next 3-4 months and additional mega-shorts piling in also, to savor the nector of a ripe fruit, that started leaking its juice now (before it gets totally rotten and abandoned). The trend is clear! The path of least resistence is down now, with so much headline-risk ahead also here, IMHO.