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The materials sector is a big early outperformer, showing all-around strength among steelmakers...

The materials sector is a big early outperformer, showing all-around strength among steelmakers (SLX +3.4%) and gold miners (GDX +5%) after Bernanke indicated the Fed is unlikely to scale back stimulus earlier than expected. GFI +8.4%, ABX +6%, RIO +5.9%, GG +5.2%, SLW +5.1%, BHP +5.1%, MT +5%, HL +4.6%, SLV +4.8%, HL +4.8%, CLF +4.5%, NEM +3.4%, FCX +3.2%, X +2.4%.
Comments (3)
  • Uncle Pie
    , contributor
    Comments (2675) | Send Message
     
    cover your shorts!!
    11 Jul 2013, 11:19 AM Reply Like
  • WRC_168
    , contributor
    Comments (85) | Send Message
     
    After the MF Global case, I'm not sure whether shorts necessary need to be covered, nor can they really be "squeezed". The court ruling had just given a license for these shorting Hedge Funds to default as & when they feel like it with little to no punishment to them.
    11 Jul 2013, 10:25 PM Reply Like
  • sinedo
    , contributor
    Comments (281) | Send Message
     
    They are methodically killing the shorts by moving the stocks higher a penny at a time so they can't get their Buys executed. They're "squeezing" the shorts.
    Regards,
    11 Jul 2013, 02:33 PM Reply Like
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