Was the short covering done by the close?

E

eagle488

There is a rumor circulating around the trading desks about a huge short or put position being covered.

Judging by the chart, I dont think the covering was completed by the close. I think we still have a morning bump, but I think the market may unwind by 12.

What are your thoughts?
 
Quote from eagle488:

There is a rumor circulating around the trading desks about a huge short or put position being covered.

Judging by the chart, I dont think the covering was completed by the close. I think we still have a morning bump, but I think the market may unwind by 12.

What are your thoughts?
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Never trade against the govt. :D
 
Lets back up. My opinion is that there will be an initial spike followed by a sharp pullback at some point. What do you guys think?
 
we had NR7 today on ER2, and stops got flushed out, plain and simple. It wasn't due to any news. Homebuilders helped bring up the indices in the afternoon, and then stops placed from the morning got hit an added fuel to the fire. I think the move was pretty extreme, but I wouldn't attempt to short. Only long trades tommorow. When a stock makes a 52 week high does it selloff the next day??? Or does it push higher for the next few days???
 
In the morning, the S&P500 will gap up I believe. Then will pull back. I want to sell in morning, maybe short and then buyback positions in the afternoon.
 
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