Correct me if I'm wrong, but isn't that 23% the lowest that reading has been.

Somebody must be busy with their margin calls.

I also think that some of those big buys we saw (take a look at the candlestick chart I posted a couple of posts back) might actually be some of the baby bears covering. If so, the good news is: they're covering. The bad news is: they won't get the magnitude of the punishment they deserve.