As to what it is,its said if a dead cat is thrown from a tall building it will bounce on hitting the ground!Yesterday the all share index fell 3%.Now if today the index does not recover the same amount its definitely a dead cat bounce.Recovery under these circumstances is to some extent caused by short covering,then fools rushing in thinking the bottom has been reached....What type of person would thow a dead cat u may ask?Well some one declared as normal as the rest of us traders,yes as we all have the inklings of first stage insanity,otherwise we would choose some other form of activity!By the way the BEARS that short cover perform a service to us as if they were not there the market would fall further and faster,probably wiping out most of us in the process!!!!!!!