After a weak bounce Monday, a gap up open this morning created a large short squeeze that didn’t reverse quickly.  After all the media buzz, I doubt anyone still believes that Greece wasn’t going to be bailed out, but it will be the post reaction that counts.  Another driver today is hope that Fed Chairman Ben Bernanke might make some hints about Quantitative Easing 2.5 tomorrow.  I think anything short of additional stimulus may lead to a sell the news reaction.  Additional 2nd quarter earnings are beginning to trickle in after hours and so far not a lot of negative preannouncements.