this is what art cashin said today on cnbc...he s an old timer and knows what a bear is unlike so many young guns...I think he said the rally wasnt on impressive volume...?Does anybody have a volume chart? edit:i checked out a yahoo vol chart of dow and the vol was about double in the last hour vs the first hour...the 2nd to last hr had good volume and the 3rd to last hour where the rally started from had lo vol... What i noticed in the last hour was that the TICK was often in the 1200-1300 range with no major pullbacks....Usually when it hits +/- 900 ,stocks will have a nice pullback.Not today.
Volume was enormous... one of the biggest days in history... but that has a lot to do with the 600+ pt range (in the Dow)... Further Dow retrace to 12750-12900 and we should find out what this thing is made of.. It's all fluff in my opine
i thought some was fluff at the end but some was real buying. it was probably 50/50 or something like that. it was really panicked buying so it did have the feel of short covering.