crazy SPY volume today

I covered my short positions today. I think many shorts were forced to cover today. I know we are close to a big correction (maybe tomorrow) but it hit me hard and I should have done it sooner. My big mistake. I am surprised of myself of making such a mistake on holding on my shorts after 13 years of trading. Everyday, I said this is the last day.
 
Quote from hajimow:

I covered my short positions today. I think many shorts were forced to cover today. I know we are close to a big correction (maybe tomorrow) but it hit me hard and I should have done it sooner. My big mistake. I am surprised of myself of making such a mistake on holding on my shorts after 13 years of trading. Everyday, I said this is the last day.
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stay nimble. Usually when shorts begin covering en masse is when the sell off is about to begin!
 
Quote from JamesVU2000:
There definetly was short covering. They unleashed 50,000 minis at 1115. I got caught as well.
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Since when is short covering tied to high volume across the board :confused:
 
Look at a one minute chart of xle, spy and dia from 11:00 to 11:30 am New York time, I have never seen this pattern before looks like a program of some sort.
 

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Quote from makloda:

Since when is short covering tied to high volume across the board :confused:
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Believe him, short covering can be heavy sometimes. I call it a combination of short covering and (retaliation and frustrated) greedy buying
 
Quote from kinggyppo:

Look at a one minute chart of xle, spy and dia from 11:00 to 11:30 am New York time, I have never seen this pattern before looks like a program of some sort.
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Those prints are because of an ARCA problem, and affected all listed stocks.
 
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