When it was up 10 points...I hope you went MAX LONG!! locked in 22 points!!!! don't worry, it's ALL short covering!!! lol. not.
Just an oversold bounce lol... with all the bad economic data, europe crisis, china crashing.... we were due for a bounce!!!
Every time I see a thread with a topic like this, I get deja vu. Has anyone ever started a thread like this and gotten a satisfactory answer to the question of why the market was up? I doubt in the entire history of the Internet, that's ever happened.
My 2 c, it's risk taking du jour thanks to record low interest rate and above average earnings prior to the recent slow down. Stimulus hope with Ben putting on a good tease. Again, recessions are for peons. Govt and central banks putting up big no bear feeding signs at the national parks.
The interesting thing about this rally is that companies that are missing earnings and/or lowering estimates continue to go up... and risk assets, commodities, oil, gold, etc have been getting beat up pretty badly economic sensitive stocks and commodities ie copper, oil, fcx, cmi, cat have been getting killed but stock market just keeps going