This is the quintessential oversold bounce. We have tons of stocks that have been going down for days and days, many of them health-care-related, and they are the ultimate safe haven for money that's worried about terrorism. The health maintenance organizations and old pharma as well as the middlemen like McKesson (MCK) are getting some relief. So are the oils, which led the commodity higher.
At the same time, the domestic retailers that haven't reported terrible numbers -- the drugstores, for example -- get to bounce. And old tech is moving up again, just oversold.
I think this is a bounce that will embolden some analysts to come out tomorrow and reiterate their buys.
If you haven't sold into this strength, I would wait to see if some analysts give you a chance to do so. That's been the pattern after these selloffs and I don't think this time will be any different.