After this morning's selling pressure, the dip buyers are more aggressive and have the market at the highs of the day. There's still plenty of red on the screens, but it's a relief to see normal action instead of the relentless one-way move that made bears and underinvested bulls so uncomfortable.
Many reported it felt like human beings are trading today, not computer programs.
This makes me more positive about the market than I felt with the recent straight-up moves. I am more confident that individual stock picking will become important again with back-and-forth action, instead of everything moving together in one direction.
Perhaps I'm being overly optimistic to expect the market to trade in more "normal" fashion, but action like today's makes me think that maybe there are still humans out there who trade logically.
