SPX’s 100 points move in 3 days

Published 31 August, 2011, 04:11, CEST+1 | By the trader

SPX is up 100 points from the lows this Friday, when Bernanke said nothing. Imagine if he had announced something. Congratulations to all the longs out there, and the ones who followed our view of selling vol, especially as hedge funds collectively hold large SPX shorts, and NYSE short interest hit highs since 2009 a couple of days ago. Teflon Market seems to be back.