Zeev...
I think that was a "pro-forma" congratulations on your call today.
If you were to look up "ugly rally" in the dictionary, today's rally would be the standard of perfection.
Whatever else one wants to say about the markets, two things seem obvious to me. First, they are propping up the markets with a relative handful of key stocks - INTC, MSFT, CSCO and other similar candidates. Second, away from those stocks, they are unloading heavily into the market as can be seen in all the new lows. The number of well known names on the new low list indicates that the selling is serious and we are probably headed to at least test the old lows.
I suspect that after a brief bounce, we will see new lows. Should the market gain some downside momentum, a waterfall drop is possible, in my opinion.
mlsoft
