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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory
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To: UncleBigs who wrote (61782)5/23/2006 5:39:42 PM
From: Mike Johnston  Read Replies (1) of 110194
 
A lot of players with long positions are stuck, they were hoping for a bounce towards 1290-1300 level to unload, also a lot of short sellers covered and hoped to reload in the aforementioned area (myself included)

Now everybody will want to sell, to whom is the question.

Everybody is long already and many short sellers have covered fearing yet another "flagpole", "waterfall to the upside" rally.
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