P2W - thanks, I like your style too - those moronic headline writers crack me up with the BS by-lines they come up with to try & explain market movements. Why don't they just say "we have NFI what just happened then".
Here's a positive spin on the surge:
MARKET PULSE Oct. 4, 2011, 4:25 p.m. EDT Late stock reversal good for technicals: Greenhaus
SAN FRANCISCO (MarketWatch) -- U.S. stocks' swift reversal higher Tuesday, after a drubbing that had sent the S&P 500 below a key technical level and flirting with bear market status, is a good sign, said BTIG LLC Chief Global Strategist Dan Greenhaus. "The late day rally -- spurred on by the FT article discussing bank aid -- took most of the market with it," he said in emailed comments. He noted that bank stocks powered ahead of other industry groups in the late-session dash. The S&P 500 SPX +2.25% ended up 24.72 points, or 2.3%, to 1,123.95, climbing back above the 1,120 level it had breached in the prior session, when the index closed at Sept. 2010 levels. "That the market fell below 1100 only to surge higher, closing at nearly 1125, is certainly a positive from a technical standpoint," he wrote.
