The buying has been selective, though. I'd characterize it as a cautious return to optimism.
Investors tend to follow whatever the current trend is.
About six weeks ago, comfort meant cash. Now it means putting your toes back in the water but not swimming with the sharks. Caution was evident in other fund flow data. It gained 11.8 percent in 2000. That's going to be pretty compelling to investors who are worried that all their funds are in the red.