iBankCoin
18 years in Wall Street, left after finding out it was all horseshit. Founder/ Master and Commander: iBankCoin, finance news and commentary from the future.
Joined Nov 10, 2007
23,419 Blog Posts

An OPEC Induced Short Squeeze Sends Shorts Reeling into the Bottom of a Well

Member of Exodus can see the actual stats.

Basic resource stocks with more than 10% of shares sold short rose by more than 5%.

and stocks with less than 10% of shares short leaped by a little more than 2%.

Here are the basic resource stocks that are most heavily shorted.

CRR, ATW, WTI, CWEI, CLF, BAS, SGY and BCEI.

These are stocks of the very lowest magnitude. I’d partake in this screen, only if I was a disheveled lunatic in search of lottery money for one of many vices — such as a narcotics or alcohol abuse addiction.

For all of the noise, markets have done a whole lot of nothing over the past few weeks.

noise

Nonetheless, I am constructive on the markets over the next week or so, and I stated such over the weekend. Overbought markets tend to remain overbought for a week or so, according to our data. By the middle of next week, you might want to extricate yourselves from some of the riskier positions — in order to avoid a potential blow off top.

Just my 2 cents.

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9 comments

  1. the_swatter

    the prescience of NASDAQ bulls this am here was predicated on this OPEC move, yes?

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  2. it is showtime

    i continue to zero out my 2x 3x inverses when necessary. my way of saying to the agents of this engineered and programmed bubble collapse you’re not getting me to feel the exasperation or displeasure you very much continue trying to create. big f u back in your faces

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    • the_swatter

      yes, it’s the zirp buyback fundamentals non-bubble one must go long on. oh, and qe never ceased.

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      • it is showtime

        They were realtime programming and controlling the indexes before Qe [pomo and qe were only the announced non blackbox setups]

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        • the_swatter

          tru… but that was blackbox… this now is a pure rumors, announcements con-game…. so it’s double-fisted two-prong plus ponzi… all reduced to a disgusting game…

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  3. it is showtime

    fly the handsignal video got a copyright claim and is obliterated. of course.

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  4. braveflaps

    Do a European football post because there aren’t enough fucking wackos on your site already.

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