It's just human nature for the herd to buy near a top when the news flow is best (ie. strong economic fundamentals like during 2007 and again in early 2011) and sell near the bottom when the funamental story is bleakest (like early 2009). That's never changed throughout history - with or without supposed market manipulation or government intervention.
The bounce over the last few days in US markets has relieved the recent oversold conditions. But the rally occurred on muted volume (last nights rise was on the lowest volume this month) and the pattern looks corrective. It will take some persistent buying effort to arrest the developing downtrend.
It's just human nature for the herd to buy near a top when the...
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