Oversold Bounce Time

Oversold bounce time. Nothing to see here. Move along.

Global Stocks Rise; MSCI World Gains First Time in Eight Days: “Stocks in Europe and Asia rallied, sending the MSCI World Index to its first gain in eight days, and U.S. futures rose after Bank of America Corp. received a $138 billion lifeline and Intel Corp. said profitability may rebound. UBS AG increased 3.7 percent as the U.S. government agreed to invest $20 billion more in Bank of America and guaranteed $118 billion of assets to help the lender absorb Merrill Lynch & Co. Citigroup Inc. rose 5.2 percent after saying it will split in two. Infineon Technologies AG and Hynix Semiconductor Inc. added more than 3 percent, while Intel gained 4.1 percent.”