The weak longs already were liquidated before, and now you've got stronger longs including hedge funds, who also paid good money for stocks, and their counterparties are banks & MM's who can't cover, because no money to cover, hence the SEC continued to leave them alone. Even their non-profitable counterparty trades are now turning profitable. In addition, I'm quite certain they are using the bailout money provided to them from taxpayers to spoil rallies and to leave the current bargain hunters hanging high & dry. Wouldn't this be an effective way of making up for their deficits?