I’ll keep this commentary short until I write for members tomorrow. Basically here is what’s happening: hedge fund SAC has allegedly been dominating 10% of daily trading on NYSE. With markets oversold heading into the holiday week and volume collapsing, SAC (and presumably others) trading participation as a percentage of total volume no doubt soared. This meant those stocks with the most short interest and trailing resting stops were easy pickings for a squeeze. The magnitude of the squeeze was impressive even as there was little supportive bullish news. It’s just further evidence of market manipulation.

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