Feeling the pain of shorts from day to day by putting yourself in their shoes remains the key to reading stocks accurately. Short-covering bears took the day off yesterday — but it was, after all, a Monday, and the buying hysteria was going to cool anyway, given that it has been raging since October 17. For trading purposes, I’ve proffered a rally target in the E-Mini S&Ps that could be helpful to night owls. If stocks get second wind today, though, it’s likely to be another tough week for bears.
