It was nice to see that bounce finally hit today. A few quick trades pulled me from last to first in my Virtual Stock Exchange game today, and maybe I saved a little face.
I see MACD curves on the indices showing positive divergence, signalling the end of down days approaching.
Interesting, Cramer just mentioned all the margin calls that are going on this week. It just so happens that I heard from a trader yesterday who was saying that he noticed a record number of margin calls. A lot of investors were forced to liquidate their positions, selling stocks to pay off margin loans. Brokers putting some of that money back into stocks might be part of the reason things went up today. I noticed a final upturn in the last hour today, that might be a good sign for tomorrow!
I'm sticking with the theory that by Wednesday next week we'll be down again. Now, I'm thinking it might start Monday.