It may be true that Knight had a problem but also true is that it was focussed almost entirely on precious metals equities if we look at action this morning. I note that most of those PM equities have now come back quite strongly. None of this passes the smell test today but nothing usually does on a FED day. This mornings actions were classic FED day action down hard no matter and then much higher later as the facts sink in. These down hard moves are intended to keep prices flat on the day or at least have the rise from a lower base thus price controlling.