[steveegg]

PPT at work:

Dow -168 and rising like a cork.
NASDAQ -31 and flat.
S&P -22 and flat-lined.

[Soren]

Although I'm don't doubt there is a PPT at work in the markets, I'm not sure the late day rallies we've seen are completely due to the PPT. It's possible, but it also could be shorts closing out their positions. Bulls love to villify short traders, implying there is something evil in shorting the market. The irony is that shorts actually help in a falling market by providing liquidity (i.e. they are buyers when everyone else is selling).