After a dire 6 months, the terrible Greek fudge (its very dry and has little sugar) seems to have done the trick re the AIM market. many resources stocks have been 40% or more and since last week have gone into full recovery mode. Normally, I like to see a good few days in the blue to confirm and recovery and we are looking to achieve that today.
Even better, some of the most oversold stocks like Xcite energy are bouncing back (from a very low base); another good sign in that it shows a rising tide rather than being selective.
Long may it continue as the March to June sell off was horrific on no news and the approach to risky AIM shares was amazing, clearly many hedge funds and funds dumped most of their holdings.
Also very encouraging is that there is no big sell-off with the end of QE in America; this was a distinct possibility and it may still happen- but lots of bullish notes out today suggest those in the markets are discounting it.