Last-hour US market madness seen abating for now

Reuters – In the past month, traders could have shown up on Wall Street at 3 p.m. and not have missed much.

The last hour, even the last min utes, of trading seemed to be the only ones that mattered in October. But the days of one-hour markets may be waning, at least for now.

Traders say the intensity of these extreme late-day swings — 443 points on average in the "witching hour" for the Dow Jones industrial average .DJI in October — could let up as some of the so-called forced selling abates.

"I don’t think the late-day volatility will be as evident this month," said Dave Rovelli, managing director of U.S. equity trading at Canaccord Adams in New York.

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