The stress tests were a joke, but we are not the ones with the money, the people with the money determine the rules. They decided to put out an easy stress test and have CNBC tout it like it was some horribly harsh test and cheerlead the results. More importantly, traders were positioned too heavily in cash ahead of the stress test, and since most traders are long biased, when they are in cash, their next move is usually to buy.
I am not celebrating only cheap hedging. By the way : Put / Call Ratio 1,95. Ay, ay, ay so much negativity out there... My closing price guess : 1005.50.