Crudeman

Was Friday's Rally Just a Hedge Fund Short Squeeze?

Personally, as a chartist, a huge head & shoulders top objective was met at 7900 hence the dramatic 1400 pt round trip in the first half hour. Obviously it was mostly short covering as it then settled back to trade sideways until the spike at 2 pm. Having said that, wouldn't it have been nice if Ben and Hank had included Lehman's in all their schemes last week and all these money raising shenanigans might have saved a couple of trillion in equity holdings...