Oct 10
17
Squeezing The Shorts
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As I mentioned in a previous week’s video, the market made its way into earnings season by hitting the YM 11,000+ mark. Whenever institutions want to create the sense of buying in the market they tend to bid up stocks like GOOG which carry a lot of weight in the NASDAQ . We have seen this as of late and this has led to the shorts being punished.
The pattern has been the early sell off with a late rally to squeeze the shorts higher. As some of the bellweather stocks begin to report earnings this week, we will have to see if the run up has built in the earnings expectations. There may be little room for less than expected earnings results.
As always, be on your toes and realize the Omen is still out there.
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