There were signs of anxiety yesterday afternoon when the 'most shorted' names started to levitate but this morning's exuberance has crushed the shorts and provided the ammunition to take the cash S&P 500 index above not just 1600 but above 1615 (with the cash index somewhat unusually trading at a premium to the futures). Since Wednesday's close, the Russell is up around 2%, the 'Most Shorted' names are up a remarkable 3.8% in the same time.
Cash S&P 500 above 1615 - premium to futures...
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and Shorts are getting monkey-hammered...
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