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We've been wondering for months what was capable of shaking this relentless upside in stock indices; it turned out to be amateur investors forcing the hand of hedge fund short positions. It was a very interesting development this week and will have its own consequences in some form; but it was a small drop in a big bucket. What it did do is distract from earnings reports and the status quo trading regimens to shed off more than 3 or 4 percent in the indices in just three days.

To those ...