Dead cat bounce. We still have a way to go. It'll take a few months for the price to move up into the 700 and 800's. The only bullish indicator right now is that a lot of folks who thought they owned real bitcoins on MtGox are realizing that they will never take possession of them. Hopefully they still have some fiat left to buy up cheap coins elsewhere. Eventually the market will adjust to the fact that anywhere between 100K-700K goxcoins don't exist, and move upwards.