Bears Causing Rally??

This looks like panic bear-covering to me...I can't see any sense in buying at this level and under the current market condition.

Well, I went in for the ride anyway. At the wrong time though and got out slightly better than breaking even.

Not going to hold a long position, that's for sure. Tmrw's probably going to be the last day of any residual short covering.

D was asking why I thought bears would need to run. I said coz the market didn't plunge as it should. And bears who can't sit tight (yes, like moi...) would react and start covering. So I really think that it's the bears that are causing the rally. But then of course, when price keeps going up, you'll see some buying interest...and then when price fails to reach its previous high, reality will set in AGAIN, and ER2 should plunge.

Yup, I form stories in my head all the time.