This makes no sense. Continental was leading the pack on declining revenues, helping to cause a market-wide drop just a week ago, perhaps less (will look up those links in a bit). Now, just because oil prices are dropping, the hope for increased profits (or…maybe just decreased losses?) has everyone feeling good about airlines again.
Perhaps the least examined aspect of this entire crisis is the psychological effect. Massive volatility like this and the impact market-wide points towards the lack of confidence, the over-emphasis on even small points of positive activity, etc.