Dead cat bounce

That’s the Wall Street phrase for a market that is rebounding for no particular reason, except that if you drop a dead cat from high up enough, it will bounce when it lands, but that doesn’t mean it’s alive.

The strong rallies these past few days in the stock market may well continue for a while (hey, the market did dodge a bullet early this week, several of them in fact, so a little jubilation is certainly in order) but the underlying fundamentals haven’t changed, so that cat will be falling back to earth soon enough.