In the latest period, Nasdaq/QQQ shorts went on an offensive. The index/ETF rallied to a fresh high last Friday. Longs are salivating over the jump in short interest as yet another squeeze opportunity. In the past, zealous bears have repeatedly … Continued
Macro news is bad. Earnings revision trend continues lower. Yet, stocks continue higher. Besides the liquidity push from the Fed, help is also coming from overzealous shorts. On the macro front, news is bad – from employment to capacity utilization … Continued
Since March lows, large-caps led, and tech led the large-caps. Short squeeze helped. Amidst signs of distribution in the Nasdaq 100 the past several sessions, relief likely awaits bruised shorts near term. Shorts have gotten squeezed – for the most … Continued
Major equity indices hit the wall this week, with both the S&P 500 and the Nasdaq losing a rising trend line from the March 23rd low. They rallied massively off of that low, and odds favor continued unwinding of daily … Continued
Unless a coronavirus vaccine is miraculously developed at record time, a V-shaped recovery in the economy is not probable. Yet, stocks seem to be anticipating one. The Fed is flooding the system with liquidity. Stocks have rallied massively off of … Continued
NYSE and Nasdaq short interest jumped mid-March, to multi-year highs. Bears could not have ridden the latest crash in stocks any better. At the same time, bulls this week defended crucial support on both the S&P 500 and Russell 2000, … Continued
Mid-January, Nasdaq short interest rose to a four-plus-year high. In 14 months, the index rallied north of 52 percent. Shorts find this, among others, a compelling reason to build positions. Ironically, they may also end up helping longs defend support … Continued
It is early to declare that a trend is beginning, but last week was the first time in a while that major US equity indices were indecisive, showing early signs of fatigue. This is coming at a time when ratios … Continued
The Nasdaq rallied to yet another record high Tuesday. It is up over 16 percent since early October. Shorts are leaving, but not in droves. Since the end of September, Nasdaq short interest is down 1.8 percent, and remains elevated. … Continued
Tech is on fire. In less than two months, the Nasdaq is up north of 12 percent, and up nearly 40 percent in 11 months. Bears, who for a while now have doubted the sustainability of this move, have helped, … Continued