Massive Rally Friday; What Does It Mean...

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As I was walking to get my coffee Friday at 4 PM after the market closed, I ran into an NYSE floor broker from GTS and I said “What a crazy close” he then smiled and said, “That was absolutely insane”.

That is EXACTLY what it was … “ABSOLUTLEY INSANE”.

I spoke with another trader who offices out of my building. I caught him in the elevator and he said he made a crap ton buying “suicides” which are calls expiring the same day. People made money Friday.

So was it just a short squeeze?

Was it actual buying?

Should we expect a continuation come Monday?

To answer this, I do think we see a continuation come Monday unless bad news arrives. I mean, shorts have to be exhausted in my opinion after that epic rally Friday.

So with this being said, let’s get into our report and discuss what we are seeing.