Nirvana, it has been a long time since the market played the swoosh game where it looks a bullish as all hell then--SWOOSH!--takes it all away for no apparent reason.
I doubt it will happen today. Just recognize it could happen. My sense is this market is not done with the current game--squeezing the shorts over and over and over again. This is a fascinating game to watch. The market reaches an unbelievable peak, and retail traders think it's an unbeatable short. Then comes the squeeze. At the new peak, short traders pile in only to get squeezed again. This game started months ago, and has a lot to do with the rise. THE MESSAGE: DON'T SELL. The shorts were committing suicide in massive numbers plowing headlong into a brick wall that wasn't going to come down. The higher the market went, the more determined the shorts became, like lemmings jumping over a cliff. It was the easiest lunch and dinner the bulls ever had. Un-f*k-ing-believable! Check out some of the short ratios on stocks like BWLD, JOSB, and 2,000 other stocks. Everyone thought they had figured out the shorting game. They're getting creamed, and they will keep on getting creamed. Then the market will fall 500 points in one big move, and no one will dare short it.
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