As If On Cue, Dow Lurches

Earlier today, we explained the market's wild gyrations in the last trading hour of the day.

Most days recently, it's mean a huge drop. Today, the opposite.

Starting right after 3:40 p.m., when the day's trading orders are posted and traders get a look at who's bought what, the Dow started climbing from the 200-plus neighborhood where it had been hanging out for much of the 3 p.m. hour.

With about five minutes to close, the Dow has rocketed skyward and now is up some 340 points, or more than 4 percent. The Nasdaq is up nearly 4 percent and the S&P 500 is up more than 5 percent.

Beats the alternative.

-- Frank Ahrens