It's usually the big players who move the markets. Right now we are seeing a sizable rally in the stock market. We've had six straight weeks on the upside that have taken the S & P 500 up 28%.

Worldwide, equities have rallied also. The Nikkei is up 25%, Hong Kong 38%, the European index is up 24% and London's FTSE is up 16%. For those who follow major trends, rallies of 20% or more usually signal that a bottom has been reached.

It is difficult to tell whether this rally is fueled by "weak," short-term traders or big players, institutional investors who take longer term positions.

You will always find traders on both sides of this argument. For example, Duncan Neideraur, chief executive of NYSE Euronext, says that this rally is driven by short-term traders. On the other side, State Street, a leading custodian of monies for the big players, says that "institutions are backing this rally." Equity inflows are at their highest levels in 12 years.

If we learned anything from Tuesday's market, it's that it is spring loaded, pun intended. The Dow Jones Industrial Average was up 379.44 or 5.8%, closing at 6,926.49. The NASDAQ and S&P were up even more. All this on skimpy news from Citigroup Inc. (NYSE: C) that it may have made a profit in the first two months of the year. That was all it took to get the market to pop!

For it's part, Citigroup jumped even more, ending the day at $1.45, for a $0.40, or 38.10% gain. Sending a memo to employees is not a novel approach to getting some stock buzz when anything more could have ended up being a lawsuit for potentially misleading investors somewhere down the road.