You have to be kidding me, if you think that was going to be any new shorts for Thursday’s session. In fact, I have covered a number of shorts, including all of my short positions in those leading stocks. Every single one has been completely covered. While I do not think this rally is going to turn into a full fledged bull market, the chances are very high for a long slow bear market rally that could produce a lot of pain for those who have not taken any profits in their shorts. Therefore, if you have not covered anything yet, please do. Now is not the time to hold onto shorts that are moving higher against you. I assume this rally will eventually fail and when that happens then we can re-enter the short side and try to enter shorts at better spots than what this oversold market was offering.
new short positions: NONE
