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Short Squeezes, Rumors And The Selling Stampede
Be prepared for the next great transfer of wealth. Buy physical silver and storable food.
kingworldnews.com / February 16, 2016
With continued uncertainty in major markets, two veterans give their take on the chaos in global markets, including short squeezes, rumors and the selling stampede.
By Art Cashin, Head of Floor Operations at UBS
February 16 (King World News) – Short Squeeze Erupts Across Asset Classes – A broad and sharp short covering rally swept markets on two continents. The rally was most pronounced in two assets that had underscored the market’s sharp weakness earlier in the week.
The rally in crude had actually started the day before when headlines about comments from the UAE oil minister caused a sharp reversal just as crude was about to break below $26.
The crude rally continued into Friday without a flinch even though there appeared to be no corroboration nor follow-up to an OPEC meeting or agreement.
The other short squeeze vehicle was the recently battered financials. As I noted in Friday’s Comments, solid results from Commerzbank helped put a bid under European financials. Adding to that was the widely noted purchase of a large block of JPMorgan by its CEO and positive comments about Deutsche Bank by several high German officials.
The post Short Squeezes, Rumors And The Selling Stampede appeared first on Silver For The People.
Thanks to BrotherJohnF
Source: http://silveristhenew.com/2016/02/16/short-squeezes-rumors-and-the-selling-stampede/
