....The Dow sold off 777 points yesterday. Today the Dow gained 485 points. In other words, the Dow gained 37% of yesterday's losses today. So, can we assume that the sell off yesterday, after the official vote results were finalized, was so drastic because of stops below the market being hit, while intra-day traders piled on the snowball to the down-side? As we can recall, the markets gapped down yesterday and before the time the results of the bail-out bill were tallied the Dow was already down 300 points.
It could be assumed that if we got a YES vote on the bail-out the markets would have likely rallied, and possibly would have filled the opening morning's gap. So, what we witnessed yesterday can certainly be described as a number of different time frames being in the market at the same time; intra-day traders taking advantage of the volatility and swing and position traders (not to mention the robots) who were long, having their stops violated. Besides, there's a short-sell prohibition for 800 stocks as well.
Right?
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