The Squeeze Is On
We had some momentary weakness on a weaker-than-expected Philly Fed number, but earnings were solid and there isn't any rush to lock in profits yet. I suspect that the bears aren't inclined to jump in in front of tonight's major earnings reports.
From a strategic standpoint, it makes sense to fade strength on tonight's news since we'll be even more overbought, but there are plenty of overanxious bears who seem happy to serve as short-squeeze fodder....102 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.
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