Just as in sports, if you don't have the momentum you cannot clear the bar in high jump. You have to go back and come back with greater speed and momentum. A few more trys and all the weak hands will be shaken out. And we will be in the ethereal atmosphere of 30's. Yeah baby!
Interesting take. Current volume is already double of daily volume. Option contracts for puts and calls represent less than 1.5 million shares; I guess it could have started that way, but clearly much more worry than call writers. Personally I would love to see sub $27 today.