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Strategies & Market Trends : MARKET INDEX TECHNICAL ANALYSIS - MITA
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To: dvdw© who wrote (17218)6/4/2003 12:35:23 AM
From: Shack  Read Replies (2) of 19219
 
So IMO the bears that are short are just puffing about going long because they are not covering.

Just for the record, between May 27 and June 2 (4 trading days), the Rydex URSA assets have shed nearly 300 million dollars, that's nearly 40% of all assets. the index closed only 11 points higher on June 2 than on May 27 so I would say there is significant short covering.

I think there's more to this rally but make no mistake, bears are finally gettin' it.
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