The S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) has roared higher this morning!
It's up 87 points, or 1.7%, at 5260 points shortly after the opening bell with more gains likely following a 4% flurry on Wall Street overnight.
It seems this mightn't be Global Financial Crisis 2.0 after all…
Investors are clearly recognising the bargains on offer following the recent crash, with the smart investors loading up on high-quality companies at down and out prices.
Among the winners so far are Australia and New Zealand Banking Group (ASX: ANZ) and BHP Billiton Limited (ASX: BHP), up 2.6% and 1.3% respectively. Flight Centre Travel Group Ltd (ASX: FLT) took flight as well, up 2.9% after the opening bell.
But don't let the sudden rebound stop you.
The ASX is still a LONG way off its April peak (it's down 12.3%), suggesting there are enormous gains yet to be recognised.
Saddle up because the market could be ready to run!