"5 Sigma Event": Market Flush Arrives As Long-Only Funds Sell Most Stocks On Record

As discussed in our EOD wrap, today was a broader risk-off and de-grossing type day, until the last hour pop attributed to comments by Israel's PM). At first, stocks tumbled almost 1%, but after the powerful 3pm rally, ended up closing only modestly in the red. 

At first glance, this means more grinding pain. Recall, on Monday, Nomura's Charlie McElligott pointed out that, amid near record S&P futures liquidations by institutional investors...