POWERSHARES QQQ TRUST SENIOR 1 ETF (QQQQ) 43.44 -$0.22 (-0.50%) 02:22AM (15 mins delay)

Positive Signs for the Market

Oct 07, 2009 - 5:05 AM EDT

Wall Street Strategies submits:

Maybe it's a sign of things to come but the action yesterday was very compelling. I sense some panic buying as fence-sitters understand that they'll have to make a stand or probably spend the next leg higher crying in their milk...again.

The market is still range-bound but acts like all is forgiven or forgotten. That "sobering" jobs report last Friday, all those economic data releases that missed the mark, all the corporate insider selling, and the fact the market is up 505-points from the low of the year are all forgotten or forgiven.

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Source: Seeking Alpha (Oct 07, 2009 - 5:05 AM EDT)