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Other than the usual reasons (markets got unbelievably oversold, cheap valuations after considering non-existent inflation which lowers p/e ratios, shorts getting killed):
1. Everyone is bearish (including those posting on this thread).
2. The markets are discounting rising corporate margins as revenues incrementally climb with lower overhead/labor costs.
3. The dollar is getting decimated making US exporters attractive and investment holdings other than equities (e.g. cash) are trash.
4. Everyone is bearish.
5. Unthinkable 6 months ago, Obama's falling approval ratings and the historically-low Congressional approval ratings make the spectre of a Republican mid-term election rebound a possibility...hope for gridlock.
6. Everyone is bearish.
7. Most managers missed the early move and now must play catch-up.
Just a lowly hedge fund manager's opinion. 80% net long, 15% gold/silver
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1995 C4/Guards Red (sold)
2005 997 Carrera / Arctic Silver (sold)
1995 C4/Polar Silver (sold)
2010 Cayman S / Atlas Grey (sold)
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