Bears throw in the towel? PPT is the only reason? Good God, is everything a frigging comspiracy to you guys? I can see why 95% don't make money, you are too busy looking for answers (or somebody to blame)...Anyone who did not cover their shorts at the open yesterday deserves to be crushed. I am still short some sindividual stocks, but was out of index shorts this morning. Now i'm dipping my toes into buying some stocks...
It's like ancient peoples and an eclipse of the sun. They don't understand what's going on so they default to "it's the boogie man!...aghhh...lookout!"
We'll see. I've seen so many nice looking hammers (and other reversal signs) on the way down from the S&P 1500s area, that it's hard to trust them. Looks like a short-term bottom for sure. Beyond that, I don't know.
Guys, its looks like everything is ok again. Buy the banks! Buy the homebuilders! Buy anything in crappy industries with horrible fundamentals! The Fed just gave all speculators the green light to buy without worry, emergency rates cut will be used regularly to prop the markets.
ystdy major insider buying.... some dood parked @1300 with his 2000+ lots offering got lifted in an instant...infact placing size on the ask was like pouring water in da sand. not to mention that 90% of trades went off @offer; size on each tick consumed with hunger.