Let's not get too enthusiastic.
Rarely do reversals exhibit a 'V' pattern especially without some dramatic news.
Also with normal pattern reversals there is an attempt to retest the low days or sometimes weeks after the low is established.
With no news I remain suspicious that what we are seeing could be a fake out. Ask yourself why should the shorts just roll over and capitulate. Yes they have made big bucks and it is normal to take some profits. Remember though that shorts make a home run when targeted companies go bankrupt and they NEVER have to cover.
Not to be a party pooper but.......
Cheers
Rarely do reversals exhibit a 'V' pattern especially without some dramatic news.
Also with normal pattern reversals there is an attempt to retest the low days or sometimes weeks after the low is established.
With no news I remain suspicious that what we are seeing could be a fake out. Ask yourself why should the shorts just roll over and capitulate. Yes they have made big bucks and it is normal to take some profits. Remember though that shorts make a home run when targeted companies go bankrupt and they NEVER have to cover.
Not to be a party pooper but.......
Cheers