RE:RE:SHORT COVERING IS PUSHING CMC UP ! NEWS OUT SHORTLY !Claude13 wrote: I think you might be right although I don't have any information to back that up. There seems to be a wall set up on the ask at .72 and .73. If we can break through that, we could go for an even better run.
Please do not be naive ....the action today is not the Shorts covering .....Shorts do not cover their positions when the trend is in a downtrend it doesn't make any sense for them to do so unless some crazy positive news report just came out by the company ...which it has not !....todays action is solely Day Traders taking advantage of a downtrend pull back ...nothing more ! they will liquidate all their positions in the last hour of the trading day.
GL