To me it just shows how many traders really expected this decline to continue.
So the shorts are covered, now what? These banks are suddenly profitable again?
Yeah right.
Fleckenstein (the mullet) ripped the shorting ban last night with a great line in response to the claim that shorting artificially drove prices down, and said that if the prices are artifically low, then where are the buyers?
Look at the stocks that aren’t up today, and I think it’s telling of what’s really happening. This quasi-government induced rally is only designed to pad the holdings the Government just bought with more of our borrowed money.
It will end and stocks will plummet back to where they need to be.
