Big day in the stock market today...

Lots of big things going on in the market today, so let's just get right to it...

The first big things were the point gains in all the major indices. The DJIA was up a solid 200.72 points, or 2.46%. But the Nasdaq did even better, up a tidy 53.44 points, or 3.55%.

The second big item probably caused those big index point gains. The Fed came out with a statement that it would basically leave interest rates alone for now, at their historically low levels (from near zero to 0.25%). The Fed also said it was "prepared" to buy Treasurys "if evolving circumstances indicate that such transactions would be particularly effective in improving conditions in private credit markets."

The third big thing - again partly caused by the Fed's comments, was the virtual across-the-board rebound of financial stocks. Some to the tune of 30 - 65%. Those are some spicy one-day returns!

And the final big item represented by today's market action is the fact that today could be a possible "follow-through day" for the turnaround rally day of 1/21/09. I've heard that all new bull markets in history have ALWAYS HAD a high-volume, big point follow-through day.

So all things considered, with these "Big Things" (and actually POSITIVE things, finally) hitting the market today, I'm thinking we should be bullish for now.

I'm certainly bullish on the stock I'm about to name below for my Premium Members. It's in that bombed-out financial stock sector, and reversed over 36% today on a beauty of a Morning Star pattern. I think it has much more upside to come on this financial rebound.