True, but if you look at all of the various signals from today you can see that the financial pros aren't buying it. They are simply along for the short-term ride that was inevitable since the U.S. government is "guaranteeing" the financial funds and the SEC banned investors from shorting any financials. So much for an "efficient" market!
Yeah, one last short squeeze for the record books and now that goose is dead too.
I never understood allowing short selling in the first place.
Where else in the market can you borrow something.. sell it.. and then buy it back later? Real Estate?
I say get real.
Market forces are about buying and selling.. letting the market determing the price of something.
Short sellers create artfical activity that would otherwise never take place... and yes that means when short sellers close a gap too.
Short selling is gambling.. always has been.. and I believe never been healthy for a market.