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Short Squeeze Triggers Sharp Volatility in Stocks
Posted on October 10, 2008
For the first time since March 2003, the Dow Jones Industrial Average broke 8000 at the open of the US markets. However just as quickly as stocks dropped 600 points, it recovered more than half of its losses in the first 15 minutes of trading and actually moved into positive territory 35 minutes into the trading session. The capitulation followed by the major short squeeze suggests that we may have seen a near term bottom. This type of volatility drove the VIX index to a record high of 70. Currency Traders Waiting for the Buying Opportunity Interestingly enough, we have not seen much of a rea...
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