Although I expect vicious spasms, feints, dives and seizures to punctuate price action for the next few weeks, I was not prepared for quite so powerful a short squeeze as is occurring tonight. It is equivalent so far to about 450 Dow points — presumably sufficient to pin bears badly on the ropes when stocks open Tuesday morning. A day of violent price swings would appear to be unavoidable.
Comments on this entry are closed.
25 basis points and the market shats the bed? Janet needs to emulate Travolta in Get Shorty as the ultra cool Shylock, Chili Palmer. Instead she’s shadowing Danny Devito’s character, Martin Weir driving the Fed Cadillac of mini vans off the cliff over a quarter point??? C’mon Mr. Yellen