What caused this huge rally after 1PM ?

Quote from short&naked:

That's a descending triangle, my friend.
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I think we already broke out of the triangle and this is the pullback back to the broken trendline (down) which now acts as support.

The volume over the past few weeks has been really weak, and now and a big volume day the price goes up.

I'm seeing lots of positives here.

Did anyone go long? I went long at 866 which was support from yesterday before it broke through. I almost got shaken out on the pullback that went to 854 but I hung in there.

I expect a big rally tomorrow.
 
Quote from oktiri:

The Rally was caused by nothing. This market is totally irrational and fear driven
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HUGE buying in the SPY and OIH.
Check the volumes and compare them to daily averages.
 
Quote from stock_trad3r:

The mass realization by huge funds that the fundamentals of the US economy are strong. The initial buying by these funds triggered a chain reaction of short covering.
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You are a hairless ape.
 
Are you buying in now hoping this goes up to the 9500 range or do you think this is the rally we've been waiting for and now it's time to wait for another leg down?
 
Dow 14,000 by 2009

the 'v' shaped recovery is real.

the market discounts the bad news and rally in anticipation of increased economic growth.

a temporary, one year, decline in profits can be mitigated bya projected multi-year increase in growth
 
What I meant was for a short term trade. Will it get to the 9500 range first before another leg down? Like in the next few days (if not hours!)
 
Quote from riskfreetrading:

what do you think will happen at a bottom when sellers are eliminated./exhausted?

A: a V shape bottom. That is what you got.

R U long?
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No, I am flat , I rarely trade in the afternoon, I was just thinking that there was some major anouncement or something.
Thanks,
 
Quote from vingbel:

What I meant was for a short term trade. Will it get to the 9500 range first before another leg down? Like in the next few days (if not hours!)
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Given the trading range 9500 seems like a possbility within the next week or so
 
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