Initial reaction to Fed notes was negative, but no

Initial reaction to Fed notes was negative, but now positive again. CTIX volume dried up before the release. This makes me wonder if some of what we're seeing is daytrading for a penny here, a penny there, and the daytraders' attention was focused elsewhere because of the Fed minutes.

Or, of course, those who needed to cover or, in AlanC's theory, re-short, may have done so and now are having lunch or slopping the pig until nearer the close.