Why did stocks go up today?

I am pretty sure the rally we saw today *cough* bullshit, was due to the rumors circulating that mark to market account might be eased or suspended.
 
Quote from GCSICLRBC:

Best answer so far. This man's a professional.
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Haha thanks, been doing this for the past 6 months. Drawing trend lines is really hard, for some I guess :(
 
It's human nature and one of our biggest fallacies to try to connect news and the macroeconomic backdrop with daily stock gyrations.
 
Quote from Mercor:

A jobless report of no more then 500,000 will be bullish. I think the concenus is 570k.

Traders are betting the report will be under 500k. Its an upside down world.
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Anything over 650-750k and will see a 2% or more drop in the markets.
 
Quote from circadian:

Yen rolled over like a drunk sorority chick.
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I agree! Talks in Washington about the rescue plan, and banks potentially being abe to eliminate a key accounting rule looked to have eased demand for Yen.
 
However long this 7900-8000 level holds, WHEN it does break this minor support here, 7500 is going to come quick and 7000 even quicker.
 
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