Yesterday seemed like the regular old Spec dump that we’ve seen so many times over the years. The POSX rallies and everyone dumps their futures contracts. And certainly there was some of that. But something far more interesting actually occurred…something that very likely sets the stage for the next sharp rally and short squeeze.
So, anyway, welcome to the day after. Tuesday was a real dud and today brings the second visit by Jerry to Capitol Hill. Will he be slightly less hawkish than yesterday? Could this help to stabilize the prices of CDG and CDS? And don’t forget about the…
