No, you didn’t read that headline wrong. According to Forbes.com, the $700 billion price tag on Hank Paulson’s bailout plan for the US financial markets wasn’t based on “any specific data point.” It just seemed like a nice big number.

On Thursday morning, Rick Pendergraft at Investor’s Daily Edge was predicting a bounce over the next few months based on the chart of the Dow, record-breaking volume on the major ETFs, and the VIX breaking above the 37.50 level.