Who’s More Spooked: Bulls or Bears?

by Rick Ackerman

The violence of price swings is picking up — Mr Market’s way of putting the fear of the Lord in bulls and bears alike. Which is more frightened at the moment? After Thursday’s feisty short-squeeze, it is probably bears whose confidence is most shaken. The polarity would of course reverse if the broad averages end the week beneath the lows achieved earlier this week. There are no guarantees, however, as just a moment’s reflection on recent market activity will attest. Stocks fell so hard last Friday that a down opening on Monday seem all but guaranteed. Instead, DaBoyz took index futures down far enough Sunday night to exhaust selling. By Monday’s opening there was no supply to hold stocks down, and that’s why they soared. This could happen again..and again. Or perhaps not.

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