Here Comes The Squeeze: Goldman Prime Says Hedge Funds Shorted Tech For 9 Of The Past 10 Days
While superficially appetite for risk was present, with GS Prime writing that its book " was modestly net bought yesterday (+0.5 SDs vs. average daily flow of the past year), driven by risk-on flows with long buys outpacing short sales 1.6 to 1" with " 7 of 11 sectors were net bought on the day led in $ terms by Comm Svcs, Real Estates, Consumer Disc, and Utilities" a detailed look reveals that the smart money has decided to aggressively pursue continued declines in tech. Indeed, validating the recent horrific price action in tech, Goldman Prime notes that i) Tech stocks were net sold for a ...