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.
No comments:
Post a Comment