Ban of short selling of financials lifted

[Boggo]

Don't forget that the US and UK markets are only re-opening tonight, they may be interested in a few shorts in Aussie I reckon.

 

[skyQuake]

Either way, hope we'll see some trending in the SPI tomorrow and some volume!

 

[skyQuake]

Beautiful smooth rally today
Gotta thank the retail shorts for their kind consideration.

 

[Sunder]

Beautiful smooth rally today
Gotta thank a the retail shorts for their kind consideration.

Think it will continue?

I'm afraid it will, but seeing slight evidence that it wont: SPI futures retreated 24 points between 4pm and 4:30pm on the June contract.

US futures are almost flat (-0.13%), so we might not even get a lead from them tonight either way.

 

[saiter]

Beautiful smooth rally today
Gotta thank the retail shorts for their kind consideration.

How would shorting translate into a rally?

I would have thought that the market would fall because everyone would be selling? Unless someone else is buying more than what is being sold... (if that is even possible)

 

[skyQuake]

Think it will continue?

I'm afraid it will, but seeing slight evidence that it wont: SPI futures retreated 24 points between 4pm and 4:30pm on the June contract.

US futures are almost flat (-0.13%), so we might not even get a lead from them tonight either way.

Not sure... But ideally the US tanks tonight, which means tomorrow all the shorts that got squeezed out today will come back in with a vengeance (and all those that held are super confident that it'll keep dropping).
Then we can have more fun fun squeezes.

How would shorting translate into a rally?

I would have thought that the market would fall because everyone would be selling? Unless someone else is buying more than what is being sold... (if that is even possible)

Monday's lift of shorting ban saw all the retail trades come out of the woodwork. Without a US lead overnight, I suppose it must have been fairly easy for the big boys to buy it up today and squeeze the stuffing out of the bears.

 

[nunthewiser]

How would shorting translate into a rally?

I would have thought that the market would fall because everyone would be selling? Unless someone else is buying more than what is being sold... (if that is even possible)

to exit there trade ie "cover" , they have to buy into the stock they have sold ie "shorted".. forcing prices north

 

[Sunder]

Not sure... But ideally the US tanks tonight, which means tomorrow all the shorts that got squeezed out today will come back in with a vengeance (and all those that held are super confident that it'll keep dropping).
Then we can have more fun fun squeezes.

Is it just me, or does it look like this morning was to squeeze out shorts, then allow the market to settle?

Despite US confidence last night, that did seem like an overly optimistic rally this morning.

 

[skyQuake]

Is it just me, or does it look like this morning was to squeeze out shorts, then allow the market to settle?

Despite US confidence last night, that did seem like an overly optimistic rally this morning.

Lol I was wrong about how speculative the short crowd were... Jumping in rain hail or shine.