markets were the most oversold since 2008 panic. Every pro was cashed up or net short the past week , so a short squeeze was bound to happen - on lack of bad news from Europe. No news is good news. It won't last long - maybe a day or two, then the bad news will flow and wont stop for the next few months. Bear market rally.
What's your current position philby? You waiting before you reload more bear fund shorts? Check out hussmanfunds.com. He is incredibly bearish, says US is entering a recession right now, and the market will drop 25-30% from here. Scary stuff.