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Data Suggests This Is Not a Short Covering Rally [View article]
Of course it was more than a short covering rally. It was a rally which expected reflation was going to happen. It was the Fake Unamerican Currency drop by Keynesian Bernanke rally. Bernanke's helicopters were grounded by a massive storm called Chinese objections which sent forth bolts of higher interest rates regardless of Bernanke's QE program.
Now that we have received the direction from China not to inflate our way out of debt we will now return to our previously scheduled deflationary crash.