By Greg Peel It would appear the local market went down to the dock yesterday to throw streamers and cheer the arrival of the first shipment of Pfizer vaccine. For despite some solid profit results, little else explained the whiplash. On Friday investors ran scared of the Victorian lockdown, dumping everything that would be impacted, mostly transport related. Yesterday it was a case of lockdown-schmockdown. Everything went back up again. And some. It is reminiscent of a couple of weeks ago when the market went into a mad panic on a sudden jump in bond yields. The following day, it mattered not. The market fully recovered. We can perhaps deduce that (a) momentum algos are exacerbating volatility and (b), there are plenty of buyers on the dips.