plexxus...
I agree that shorts may well get trapped here for the time being. As we approached the old highs, I predicted that if given a chance to do so, AG would attempt to drive the market straight through the old highs without a meaningful correction. The purpose for doing so would be to start a new upleg which would become self sustaining, driven by a new round of short covering aided by the mo-mo boyz. That would allow him to unload accumulated inventory at a profit into a self sustaining rally to prepare for the next round of his "Greenspan Gambit".
It is a bit too early to declare that mission accomplished since CSCO could throw him a curve tomorrow, but he is certainly very close to closing the deal -- close enough to where a little of judicious goosing here and there while supporting CSCO could put him over the top and into the self sustaining rally he has been looking for.
mlsoft
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