Will the Market Rally Have Legs?

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Investors on Wall Street tried to hold on to gains from Tuesday's best rally in three months.

The Dow held steady, Wednesday, closing just a few points higher at 6,930--after rising nearly 400 points, Tuesday, for it's best showing since last November.

Many investors say the market is close to a bottom, but a spark for the rally came after Citigroup reported it made a profit in the first two months of this year.

Now, some are hoping the worst of the bear market is over.

"You're getting the sense down here. that maybe, just maybe, this may have legs. That we're getting towards maybe a bottom," said Alan Valdes, a trader with Hillard Lions.

Hugh Johnson, CEO of Johnson Illington Advisors, believes this rally will take some of the pressure off the stock market.

"This is a big plus for the financial stocks, it's a big plus for the market generally. It's going to take some of the piling-on pressure off of these stocks and give them a real chance to sort of lift," he said.

But some analysts point out that the market has turned up several times in the last few months and fallen back each time.

They say this could be just another bear market rally.

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