I don't need to substantiate common sense to you buddy. I'm not the one claiming there is short covering today. I see a normal market with buyers and sellers. On the TSX, I see signs that anytime the index approaches 11500 that people are buying assets up. The main wild card is commodities. Do you have something meaningful to say or are you just being an asshole as per usual ?
I think it is short squeezing because I am short and I remain bearish about the market. Is it simple enough for you to understand? I don't think there are a lot people who can sustain 10000 pips.
Do you know what "short squeezing" is ? The fact that you are bearish has no bearing on what causes markets to go up or down. I listed reasons why markets can rise that are not "short squeezing". There are days when it is, but they are far rarer then the days people post its "short squeezing" on here. In fact, pretty much every daily rise in the market is called "short squeezing" by Grand_Super_Cycle, for example. Let me humour you though. Did overall short positions get reduced today, and in what equities were they reduced ? Please identify some specific stocks and we can track that baskets of stocks with respect to their short positions over time. If the shorts are not reduced on certain days, then the concept of "short squeezing" would be invalidated. Simple enough exercise, let's find out. I'm assuming you've already done your own research looking at overall short positions on stocks you follow. If you haven't, well, what could you possibly base your theory on ? The media ???
US yields are rising while Spain and Italy's are failing. The EU manufactured a bid on the Spanish auction so global indices are going higher. 1300 SPX by end of Jan.
Do you have any technical analysis to be the reason? I never read any news or information about the market. They only serve the market.
My analysis is my own, not yours. Take it for what it's worth. I'll be wrong if we don't touch 1300 cash by end of 1/2012.
In general, news tends to be overly bearish this year. You still need to listen to it and sift out the bs. TSX clearly met support ( again ) in the 11500 area.
Certainly SPX trading has been thin but positive, the daily charts still look eerily similar to the patterns seen in 2008/2009 though. I personally won't be making any 1-12 month trades until mid after the Jan 25-26 Fed meeting (hoping for more QE3 colour), and most short term trades have recently involved shorts as the AUDUSD and XJO hit resistance levels. The rally will be big when it comes. Taking 50% of it will still offer a better risk/reward ratio than jumping to early into a sizeable long time position in my opinion.
Warning! Recently the market has been extremely tricky! No matter it seems to tell you, don't fall for it! Check what I said in the first page of the thread!