500-point bounce off the lows is NOT a bottom?

Quote from Jahajee:

and 50 SPX points bounce off intraday lows is not a bottom?

I think it is. Expect a retracement and possibly a retest of lows but WE MAY HAVE SEEN THAT ELUSIVE Intermediate term LOW.

Consider what happened during the past few months: all the gains for the last 4 years have been wiped out. We are back to 2004. Reset the clock, we are now at the start of another rally but this one will tough going.

Trading could be very boring and difficult during the next year or two.
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Schabacker based on the 1930 crash: when the market has recovered 40% then it is time to sell.

Maria
 
Quote from EMRGLOBAL:

Any elected office that will not allow these markets to "work it out" now that we have a pumped 700 Plus into the Credit world, will cause a DEPRESSION!!!!!
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For the sake of clarity, is it your position that the $700B blank check intervention the administration just went down on its knees begging for is consistent with allowing markets to just "work it out"?
 
What makes this more convincing is that lack of any news as a trigger for this buying. This is a classic short squuze like the one in october 2002. You can't 'sell on the news' when there is no news to sell on. :p :p
 
Quote from stock_trad3r:

What makes this more convincing is that lack of any news as a trigger for this buying. This is a classic short squuze like the one in october 2002. You can't 'sell on the news' when there is no news to sell on. :p :p
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I don't go for these conspiracy theories but...

the sharp rally could be because the the Plunge Protection Team (PPT) intervened. Yes, there is a PPT within the FED establishment.

I trade the markets and am not concerned who or what caused the markets to move but I remind others that the FED via PPT comes in when the situation warrants it, like today when the market was in a free fall. It could have been a coordinated action by the FEDS and their pals in the investment banks/brokerages.

Look for similiar action in the overseas markets
 
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