by Rick Ackerman
The pros who confidently bought the dips for more than a decade are now quietly selling the rallies. During the bull market, accumulating stocks on weakness was a no-brainer, as easy a ticket to big profits as investors will ever enjoy. But the bear market has ended this rare opportunity. Instead, the Masters of the Universe have been unloading as much stock as they can into every rally. This tactic was clear on Friday in the wee hours, when shares rose sharply on gaseous volume while most of us were sleeping. The intent to distribute was so obvious that Rick’s Picks put out a recommendation at 5:34 a.m. to short the E-Mini S&Ps. (Here’s the actual post in the Trading Room. The futures subsequently fell more than 200 points.) Only a few subscribers were able to take advantage of this guidance, however, because of the ungodly hour. Get used to it. Short-squeeze spikes tend to occur at times that are either inconvenient or intimidating to most traders: on Sunday nights; in the final hour on Friday; on the opening bar of day sessions. Rinse and repeat.