Agree...these are the rallies that people wait for an inevitable "pullback" but it turns into a violent reversal...alot of these back in 02 and 07/08.
I know, since the opening its done nothing but drop....almost sold all my LABU but decided to hold on, now my green is red...oh well.
yeah that index is definitely a squeeze or be squeezed type of thing, but that LABD is something else...
I was just looking at some of the historical prices on it, pretty crazy, Im selling it all out above $55 if it gets there because I know just a 3% rally in the markets could send that ETF down under $30 in no time!
AAPL, IBB are down with indices up 1%+ when market leaders don't participate in a rally, that means it's going to be a fade
and the most shorted had their best day in 4 years on Friday...these end/beginning of quarters can mark significant shifts, but I do think this move is too vertical and I don't think this oct 2011.
Time to switch brokers again, I have noticed I am trading way too much in an account I thought I would deb trading 1-3 times a week in, Im now trading 1-4 times a day..... Cost of each trade is $6, $12 round trip...sometimes more if Im trading a stock under $1.00 So today Im close to $30 in commission on 4 trades, now 10 years ago that was considered very very good, $30 was cheap, but the other broker I have, those same trades which cost me around $30 would have only cost me around $14-$15. Nearly 1/2 of what it cost me today in my other account, Time to switch and start saving hundreds and hundreds of dollars a year, maybe a month at the rate I'm trading at now!!!!