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What we saw today in the last hour or so of trading is an example of a short cover rally. As soon as the S&P broke the morning highs, the buying to cover ensued. That is a logical place to put both orders to buy to get out of a short and buy to get
Classic Short Covering
What we saw today in the last hour or so of trading is an example of a short cover rally. As soon as the S&P broke the morning highs, the buying to cover ensued. That is a logical place to put both orders to buy to get out of a short and buy to get