Investors have been chasing the Dow Jones Industrial and Nasdaq Composite indexes in October, redeeming en masse on days following poor performance and pouring money into funds on days following strong performance, according to early fund flow estimates from TrimTabs.com of Santa Rosa, Calif.

Money has flowed into and out of mutual funds so rapidly that the flows have resembled the swinging of a pendulum, said Carl Wittnebert, director of research at TrimTabs.com.

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