"There are simply too many shorts in this market to keep it down ..."
but isn't this pretty naive? i mean, the higher the market is pushed, the more shorts are going to pile on, because things just get more and more wildly overvalued. so yah, shorts are squeezed out, but its a little doSiDo before everyone does an allemand left ...
the only exception would seem to be something like the Great Bubble, where "everyone" was bullish and shorts continually got roasted. however, lightning strikes twice and all that stuff ...
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