Volume was significantly heavier than usual with a rally of over 3%, that's some decent conviction....some big player/players were getting in today and were not shy about buying at higher prices as the volume was skewed higher toward the close.
Did you guys watch the trading today....reminds me of the Tom Petty and the Heartbreakers song "I won't back down". In a rough down market, the buyers just wouldn't back down....they stood their ground just like Tom Petty would've wanted them to. Thankfully the theme wasn't another Tom Petty song: "Free Fallin".
Yes, the volume increased all day long, with the highest in the last 30 minutes ... a true sign of accumulation. And short covering. Would not be surprised to see analyst upgrades ... from the same idiots that kept downgrading offshore drillers, such as NE