Update: The machines have managed to lift Nasdaq all the way back to unchanged from Friday, right as European markets closed.
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While this is unlikely to come as much of a surprise to any trade who can fog a mirror, today's panic-buying bounce in stocks is being driven by the biggest short-squeeze since the first week of 2019...
We wonder if this will stop once the Nasdaq makes it back to even?
If there is any fundamental/news catalyst for the squeeze today, it is this - CNBC reports that Mexico’s president on Saturday hinted his country could tighten migration controls to defuse U.S. President Donald Trump’s threat to impose tariffs on Mexican goods, and AMLO expressed optimism today on negotiations with the U.S., and Mexican Foreign Minister Marcelo Ebrard said there's an 80% chance that the country will be able to avoid tariffs. Which, of course, would be a huge victory for Trump.