Who knows? But tbh the current climb up seems to me seems to be institutionals loading up to pound the market even lower in a day or 2. It just doesn't 'feel' like a genuine hike. I just wonder who all these buyers are. I guess if the cliff isn't deep enough you can always climb a tree before the jump.
don't discount that the FED has a plan for stability today, I seriously doubt that the rate cut this morning is the only thing they have up their sleeve. PPT support is a real possibility with the futures market today, as is other announcements. Think of it as a full game plan today, with options.
Oh, we don't discount it. It's just the extent of the reaction that we all need to gague. Not up 500 by noon on such stimulus - then the question is WHY? Anyone else who is a structural short holding on here? I may add if there is a good retracement.
Another possibility, fed talks to warren buffet, tells him to buy ambac or mbia and gives him a 0%tax for 5 or 10 yrs, or some other type of guarantee. That way it doesn't appear as a government bailout to anger people. You know the ideas are flowing right now.