An exhaustion maybe? Don’t know , but maybe. Clearly one should have been playing the long side as Spocks system has shown, however I have to say his comments this morning pre-open smelled of short sellers fear. He was right that stops no doubt have been set at 2020 and a breach of that level should set off another round of squeezes. The fact that we had that breach and it didn’t may be significant. Maybe a reversal here?
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