Just a few weeks ago, economists and investors were fixated on the possibility of a double-dip recession. Stocks were plunging and were expected to be trapped in a holding pattern until the November election.
No one was talking about a rally.
Yet this month investors have had a change of heart and pushed the Dow Jones industrial average up 8 percent.
“Not-so-bad news is becoming good news,” said John Kosar, of Asbury Research. “People are willing to take a chance,” though low volume still shows a “lack of urgency” to buy.