Rally time.
Where did this come from?
Well, from the financials. They’re up with double digits and if we can use Europe as a predictor, more fun will come.
Is something big coming?
Will a change of the rules be suggested when tomorrow the accountants of the SEC make their appearance at the House Financial Services Subcommittee on Capital Markets?
Is this market right to expect any relief of the FAS 157 rules?
Or is it the return of the uptick rule causing all this volatility?
Or is this simply a snap-back rally that will fail anytime soon?
Bespoke invest highlights the fact that yesterday’s gain was the eight one-day gain of 5% or more since the S&P500 peaked in October 2007. None of the previous occasions resulted in a sustained rally.
Where did this come from?
Well, from the financials. They’re up with double digits and if we can use Europe as a predictor, more fun will come.
Is something big coming?
Will a change of the rules be suggested when tomorrow the accountants of the SEC make their appearance at the House Financial Services Subcommittee on Capital Markets?
Is this market right to expect any relief of the FAS 157 rules?
Or is it the return of the uptick rule causing all this volatility?
Or is this simply a snap-back rally that will fail anytime soon?
Bespoke invest highlights the fact that yesterday’s gain was the eight one-day gain of 5% or more since the S&P500 peaked in October 2007. None of the previous occasions resulted in a sustained rally.
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