According to Ben Stein who says it here.
The buzz amongst some is that it is indeed the Hedge Fund folks who are causing the stock market to be unable to "find the bottom" as I like to say. John Edwards types can't take it and are pulling their money out like crazy.
I'd like to think the buy-and-hold types like most of us are getting revenge. At the moment, it's hard to cheer. Or know the best thing to do. Certainly, the thing to do is *not* pull your money out!