I think you may or may not be right to call it a patriotic rally, but you are definitely not PRECISE. Technically, a rally is a price development phenomenon, which in and of itself cannot be patriotic.
Well, then I must be accurate. Thanks. Whatever the way of expression I should use here, my point is that patriots made this rally possible.
Thanks for highlighting the reality. The selling volume was soooo light last week, they (Big boys)were just looking for any reason to buy stocks. My opinion was that the whole thing was a technical bounce just like all the others (790 SPX support level). Any extra fuel about "war relief" just added to an already very oversold market - throw in some big-time short covering and WHAMMO up she goes. Most Big Money can only go Long (pensions funds, mutual funds, etc.) they have to buy/sell/churn/manage - and they have to buy eventually... My call? She drops again just as hard after a day or two of chop. Paul
They could have figured out a way to include Blair in the Attack of the Clones thing. He deserves it.
Was it patriotic? No, I think the world markets were way oversold. It was more of a technical bounce. Although, it could last longer because the backers, here and in Europe, are from more market oriented parties. We may see real reform in Europe which should provide a lift even to our own overvalued market.
Patriotic analysts said losers in this rally must be ashamed and regretted for their unpatriotc decisions. Then this time I have to admit that they have to blame nobody especially not the patriots but themselves.