This mother of all squeezes are scrambling the shorts as the regional banks and heavily shorted financials like C and AIG are squeezing again. We are now at the 2010 highs for the SPX, it is going to cause a total give up by the bears if we get through 1150 on SPX. That's probably what it will take to end this rally. I think we're very close price wise. But we may churn near these levels for at least another week till options expiration.
Why this sudden drop so early ?
ReplyDeleteDid we finally run out of suckers ?
Looks like the suckers are all loaded up on shares. They are going bananas with C, AIG, and other assorted junk.
ReplyDelete