Pre-market is ridiculously low. Shake out. Shakedown? Wouldn't doubt it on three counts: 1. clean out stop-loss sell orders, 2. make short sellers happy, 3. establish bargain prices for new buyers (hedge funds).
There are a lot of winds blowing in favor of bulls in the coming weeks: mark-to-market vote (Apr. 2); uptick reinstatement vote (Apr. 8); earnings reports for the financial sector (Apr. 8-16). I'll never be optimistic enough to believe that specialists aren't toying with share prices. Today, bank leaders are meeting with Obama (lunch time), which could spook the short sellers. My guess is the market will open way down at this rate, then run up after Obama's meeting begins.
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