ASX Recovery - Dead Cat Bounce

A dead cat bounce today on the Australian Stock Exchange! Just a quick update, the volatility of the market displayed its true colours today! Compared to yesterdays touch of vital support level just above 4750. A true display of a dead cat bounce. The All Ordinariesgained 20.5 points, closing at 4835.5. But is this the comeback of the market to its glory days above the magic 5000? Don't ask me! I don't predict stocks - no worthy trader ever predicts stocks. I simply trade the facts. Whoever placed some money on BHP or RIO for an overnight trade definitely made money today. BHP Billiton bounced back to life adding 38 cents to $26.00, while Rio Tinto gained 22 cents to $73.37. I anticipate the market will continue to be highly volatile in the coming weeks which could be highly profitable to speculators.