185 Nasdaqs ago we had a long talk on a dark Thursday. The end of times was imminent and we prepared for full grid failure and foreign invasion. By brunch Monday the fix was in, and if you didn’t sit and/or buy into the most recent Tour de Bracket Low then you’re in a most uncomfortable predicament.
On one hand you’ve missed a vicious rally with all the trimmings of a volatile bounce—they’re big, they’re fast.
On the other hand, and more importantly, you have to decide about whether you’re willing to initiate new longs, high atop a leg higher.
I suppose you may even be considering hedging or adding to shorts.
There are nearby magnets north of our current prices. Three gaps were left below, two way below, and we know this market has methodically eroded any and all gaps, but when?
I can say with certainty the market is looking for sellers. It’s really discovering new prices along the way. Sellers are full on no-call-no-show today.
These are short squeeze conditions lads, go forth into Exodus and scour that screen now. THRX, SLCA, and a few more jump out at me.
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Check $LL, $KING
I like that KING, it’s on a tear