Who is buying?

It is evident for more and more that the market in heading south.
So they sell.
Former leveraged bulls deleverage and sell.
They deleverage and sell in ratios of 1:1 or more perhaps even 1:5.
There is already significant selling pressure.

Yet the market only dips a little, and then it seems to pick up again.
So someone is there to pick up these shares from the sellers.
In huge quantities.

Who are they? Who is buying now?
Who is leveraging long now? How do they think?

Is it institutions that have to buy?
Is it sovreign funds abroad?
Is it pure speculative greed from investment banks and hedge funds?
It is living dead investment banks (they already see the game is over for them) that place extreme bets in the hope they can recover?
Is it insiders in the companies?
Is it the last idiots on the street extending their still valid credit limits with their brokers?

Naturally it is not just one single thing.
But what is it?
Who is buying?

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