Shorts got stomped!!

In order for markets to be effective they need short sellers. The shorts offer things to balance out, pullbacks are healthy, crashes are not. And this massive selloff that we seem to be coming up out of is the biggest one day gain since NOV 2022. Will it hold? Can it hold? It looks better today that is for sure. Not only did the bulls defend the S+P 500 area of 5,200 that I mentioned on Sunday night, but we closed up above 5,300. That’s a something to take hold of.

There’s no denying that the shorts got greedy the past few days, they bought heavily yesterday and in the aftermarket yesterday also. And I do mean heavily. They would be hard pressed to have another massive selloff anytime soon as many short positions were monetized today.

One thing that I am not a fan of, and that we will never do here at investingwithfaith.com is take pleasure in others setbacks. That was the impression the short sellers gave these past few days if you are in tune with that. It was greed at it’s finest, we didn’t go to war, ( Thank God ) we didn’t have a massive Boli Boli virus outbreak, nothing of the sort, and yet the shorts went in extra heavily. That was then, this is now.

S+P 500 at the 5200 still needs to be respected. I am adding one of the charts that I use for my own personal trading here. Every green bar that you see on it represents a 2 hour time frame. The yellow dotted line is where S+P 500, 5,200 level is located. You can see we are most likely to hold that for now but until we clear 5340 we are still in “murky waters”

Do you like Boats? I own one. A buddy of mine created his own ETF today ( not really, it’s for fun ) calling it “BOAT”… ~~Bitcoin~~ORCL~~AAPL~~TSLA~~ Lets hope for smoother sailing from here on out. And if anyone falls out of the boat, may it be the shorts.

Invest wisely, live charitably and be well

Brother Bill