Monday, April 19, 2010
Short Squeeze
The last 2 hours of trading is what you call a short squeeze. Anybody who was short or underinvested decided they don't want to miss the boat and decided to jump in at the same time. The market just doesn't quit, and the bears have no staying power. I noticed that the financials were the outperformers today and small cap underperformed. I think the financials strength was based on C and the shorts scrambling as GS refused to go down. I think the small cap underperformance is a sign that this rally is starting to run out of gas. I will be looking short for Wednesday probably.
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1 comment:
market is seeming to regard the gs suit as a toothless tactic designed to rile the public and score brownie points for the democrats. alas the top is likely in but i won't rule out another run over 1200.
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