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bosun.j --
Nov 14 08:38 am
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All Comments by rsinvestor »Is the Worst Over? Let's Keep Our Options Open [View article]
Absolutely program trading caused the 15 minute swoosh yesterday at 12:45. Everyone and their granny had stops at S&P 839 (intraday low on 10/10). Those got taken out without hesitation. Then, out of nowhere, short covering seems to be the driver for the 11% swing up. Once traders realized that the "short the support breach" wasn't working, volume continued higher on the up move.