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Bonds & Bullion Purged As Crude & King-Dollar Surge Into Qtr-End
Well that was a day - summarized perfectly by JPM's head of cash trading Matt Reiner who wrote this morning that "equities are trading as though hope and confidence are dwindling out of the system" before a big squeeze this afternoon slapped some lipstick on this negative gamma pig. For the 3rd day in a row, the machines tried (and failed) to ignite a short-squeeze early on... but around 1400ET, something snapped and the squeeze was in and equity markets went vertical. BUT... the ignited momentum ran out of steam quite quickly... chart The late day squeeze-gasm lifted everything green (even The Dow briefly) ... (full story)