Magical Market Ride
I'm in the financial business, and as such, many people think I know something "special" about the markets or trading. I don't. What I know is how to build systems, and the little domain knowledge I need to do it well in this industry. However, the bounce that happened the other day was something totally unrelated to how the markets really work.
Something silly happened and programmed trades weren't smart enough to see that it was an isolated, very short term spike. Bad coders made the Big Bounce, nothing else. Maybe a little panic, but for the most part, bad coders.
Look at today:
All the losses are gone... things are back up, everything is working it's way back. It was a very obvious problem that didn't effect the fundamentals of any of the companies.