MASSIVE short covering in stocks.

I thought the PPI was going to be somewhat hot, it wasnt. As for the cpi, who knows. If its in line expect new highs on the dow tomorrow morning, a strong cpi and the dow gives back at most maybe 20 points.....
 
Quote from stock_trad3r:

The CPI number wont do that. if there is a selloff it will be moderate.

When was the last time en economic indicator caused a massive selloff? I can't remember one for the past year.

There are too many economic indicators and they are released so frequently nowadays that they don't have too much impact on the market.
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If psychology shifts towards a rate hike, and this number may raise the odds quite a bit we just may see that shift in the next few weeks.

Not a bear, but pulling in my horns for now, I need to see a good correction and I will re-enter from the long side until then have at it. I will not be establishing any new longs up here.
 
Quote from JSSPMK:

Well anything can happen, we are not in a position to know these things before they happen. It can happen today, we don't know this. I just wanted to know what "epic" short covering the OP was referring to, I mean who are these dumb fucks in "epic" proportions that are short the market? Any commercial banks in that list? General public?
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The shorts include not only those with net short positions but also those that remain short against their benchmarks. One survey that I saw last week from an in-house strategist puts the latter group at SIGNIFICANT levels. These are the funds that will drive the rally. Their "puke" points are already being hit and it will continue as we move higher.

Oh, and yes. There are those that are actually still net short from the March lows....

Last week's lows will not be revisted until next year....

Enjoy the ride!
 
record highs across the board


ymbol Name Last Trade Change Related Info^MERV MerVal 2,228.72 11:38AM ET Up 15.74 (0.71%) Components, Chart, More
^BVSP Bovespa 48,735.52 11:39AM ET Up 809.32 (1.69%) Chart, More
^GSPTSE S&P TSX Composite 13,625.13 11:23AM ET Up 46.51 (0.34%) Components, Chart, More
^MXX IPC 29,964.55 11:19AM ET Up 357.58 (1.21%) Components, Chart, More
^GSPC 500 Index 1,466.96 11:39AM ET Up 14.11 (0.97%) Com
 
Quote from S2007S:

just sold out of one of my long positions. Took a little profit, looking to buy some TWM around 62 with the profits.
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I wouldn't be looking to short even on a downdraft. Later this year will be the time to begin building shorts. NOT BEFORE.
 
Quote from dealer:
I wouldn't be looking to short even on a downdraft. Later this year will be the time to begin building shorts. NOT BEFORE.
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One strategy I like in a runaway bull market like this is sell part of my long positions on strength and then buying them back at (slightly!!) lower prices. But not shorting. You short this market and it gaps up in your face on some ridiculous takeover for 100% cash.
 
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