Monday, September 12, 2011

We are going to have a short squeeze

If you are a shorty this afternoon is not what you want to see. Support held, SOX led up, DJT recovered strong, all indices closed positive, news flow turned positive, etc...

Did you have a chance to cover?  Probably not... It was a quick ascent and a close on the high. Short covering will continue in futures, spill over into overseas markets, impact commodities on the upside, possibly help euro recover some. No matter what your long-term outlook is - this rally was real and vicious. If we get follow-through tomorrow, we will have a multi-day rally into OpEx.

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