Back in October 2002 there was tons of media stock market coverage. Everyone was talking about the spooz and nasdaq. Where's the bottom? Should I sell? Is the worst to come? Should I buy? It's that way now. No capitulation, a bullish sign. People have not given up on stocks. The stock market still plays an integral part in people's lives in the stock-market-as-reality world we're living in.
Yea but funds with tons of money on the sidelines could try to induce a short squeeze because a lot of people expect a breakdown and a swift retest of november lows and shorted accordingly. I think this bounce is the real deal even though it doesn't seem like much now. We're also seeing very good intraday strengh with large cap tech (goog, aapl, rimm) and energy. Stronger sectors are holding up well.
People sometimes become insane in order to win sympathy, attention, and get a feeling of importance. Insanity really starts setting in when one has to resort to talking to himself on a forum to feel important.
Wide open spaces. Tomorrow is Friday so we may rally back to 8200. I see nothing stopping us from hitting 7500 again.