And the Bulls Have Done It, Yet Another V-Shaped Move

The indices haven't completely recovered from Wednesday's losses, but the oversold bounce is turning into a V-shaped move. The S&P 500 is now down just 0.57% since the close on Tuesday, but the iShares Russell2000 ETF (IWM)  is still down 1.8% in the same period. Breadth is very frisky, with about 4,900 advancers to 1,700 decliners, and there are about 200 stocks hitting new 12-month highs. If there were worries on Wednesday, they are being forgotten today.

What is most interesting about these aggressive bounces is that they tend to occur not because something fundamental has shifted, but because it is the nature of the price action in the market now. The computer algorithms keep pushing -- and momentum buyers fear being left behind. There isn't any news to explain the action. It is just what works for traders who have seen these sorts of dips quite often in recent years....232 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.

Read the full story and get access to the Real Money Pro trading floor.

There’s no substitute for a trading floor to get great ideas, so Jim Cramer created a better one at Real Money and blogs there exclusively. We then added legendary hedge fund manager, Doug Kass, with his exclusive Daily Diary and best investing ideas. Staffed with more than 4 dozen investing pros, money managers, journalists and analysts, Real Money Pro gives you a flood of opinions, analysis and actionable trading advice found nowhere else, and allows you to interact directly with each expert.

Already a Subscriber? Please login.

Except as otherwise indicated, quotes are delayed. Quotes delayed at least 20 minutes for all exchanges. Market Data provided by Interactive Data. Company fundamental data provided by Morningstar. Earnings and ratings provided by Zacks. Mutual fund data provided by Valueline. ETF data provided by Lipper. Powered and implemented by Interactive Data Managed Solutions.

TheStreet Ratings updates stock ratings daily. However, if no rating change occurs, the data on this page does not update. The data does update after 90 days if no rating change occurs within that time period.

IDC calculates the Market Cap for the basic symbol to include common shares only. Year-to-date mutual fund returns are calculated on a monthly basis by Value Line and posted mid-month.