Why did stocks go up today?

[Landis82]

Quote from S2007S:

Obama speaking in 40 minutes.

Should move markets.

Seems like there are an awful lot of people here posting on ET that spend more time watching CNBC than looking at charts, or TRADING.

 

[Lucrum]

Quote from gnome:

Will CERTAINLY move some bowels.

It's gonna move mine.

 

[1flyfisher]

Buy the rumor/sell the news. We are getting a rally on the stimulus package getting voted on and possibly passsed, and mark to market ,.....a buy the rumor rally.
Maybe next week it continues, may be sell the news will take place.
We shall see next week if there is any follow through and we get a continuing pop.

 

[Lucrum]

Quote from Landis82:

Seems like there are an awful lot of people here posting on ET that spend more time watching CNBC than looking at charts, or TRADING.

Landis82: 5041 (5.43 posts per day)

Lucrum: 4644 (2.47 posts per day)

Agreed

 

[Landis82]

Quote from Lucrum:

Landis82: 5041 (5.43 posts per day)

Lucrum: 4644 (2.47 posts per day)

Agreed

That's pretty rich of you.
Especially coming from the "king" of the "Chit Chat" and "Politics and Religion" forums.

 

[Mvic]

There is a lot of skepticism about this rally. It feels like people are layering on shorts here. Next week could see a short squeeze of epic proportions.

 

[Landis82]

Any short over the last hour has been getting GROUND to bits . . .

 

[nassau]

Quote from Mvic:

There is a lot of skepticism about this rally. It feels like people are layering on shorts here. Next week could see a short squeeze of epic proportions.

imo this is and has been a short squeeze over all last few days.
the initially move and then consolidation of a few points and the moment we start to sell of a point or two and shorts come on they / the new shorts get squeeze.
'we are not getting any retracement that would overall be profit taking other than after close and the shorts have been force to exit or have margin issues.

the stocks in er, nq, nyse etc are very low volume on the move or gap up.

w

 

[BigGun]

The only institutions making this market move are the Gov/fed/Tax Payers “TARP” ( or should we call it the “TRAP” ) funds.

 

[mr888]

PPT out in full force, 600k jobs down, 200 point rally then pauses for 2 hours with a 20 point range? hahah gotta love how they setup these bailouts always around the non-farm payrolls so wall street "shrugs off" the job losses.