Game On

It’s different this time. How do I know? Look at this chart for goodness sake. We have never seen anything like this ever before.

If the Fed is the biggest player on the field, then WSB is the fastest. The speed at which some of these moves are taking place is breathtaking. Their favorite target these days are stocks with the most shorts to squeeze.

The 6 most heavily shorted stocks each gained over 5% today.

At this point, you would think that the “smart money” is following the “dumb money” and adding to the squeezes we’ve seen recently. I mean, this can’t be all retail, can it? (h/t Dylan Grice).

This combination of big money following the fast money has made it a dangerous time for short-sellers. I can’t prove this is happening, but I think there’s something to it.

Ben and I got into this and much more on this week’s Animal Spirits.

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