I'll keep this commentary short until I write for members tomorrow. Basically, here is what's happening: hedge fund SAC has been dominating 10% of daily trading, so it alleged. 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.
I'm going to leave it here until the weekend.
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