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Short squeeze seen lifting S&P 500 further: Citi

Hopes for big fiscal stimulus have driventhe U.S. equity benchmark to new record highs ....

Wall Street , சுவர் தெரு ,

Sensex rebounds over 400 pts tracking Asian peers; Nifty above 13,900


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Sensex rebounds over 400 pts tracking Asian peers; Nifty above 13,900
Indian equities made a smart recovery on Friday morning after five sessions of hefty losses, with the BSE benchmark Sensex rebounding over 400 points led by gains mainly in banking, energy and auto stocks.
The 30-share Sensex was trading higher by 403.16 points or 0.86 per cent at 47,277.52 in opening deals. Similarly, the broader NSE Nifty was up 118.65 points or 0.86 per cent at 13,936.20.
On the Sensex chart, IndusInd Bank, Mahindra and Mahindra, L&T, ONGC, Bajaj Finance, HDFC Bank and Bajaj Auto were prominent gainers.
On the other hand, Axis Bank, HUL, Tech Mahindra, UltraTech Cement, Maruti and TCS were the top losers. Over the previous five sessions, the Sensex had lost 2,917.76 points, while the Nifty had shed 827.15 points. ....

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Looking For The Next Gamestop?


The story reads like a thriller novel.
Traders who hang around a Reddit board called WallStreetBets have been getting together to make bets on a bunch of stocks over the last few years. One of those stocks was
GameStop Corp. (NYSE: GME).
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One of these would-be traders noticed that shares of GameStop were heavily shorted.
Very heavily shorted.
The Reddit traders started buying the stock and short-dated call options to drive out the shorts.
You see, when traders sell a stock short, they borrow the shares, sell them, and then plan to rebuy them later at a lower price, netting a profit. But when share prices start climbing, they re forced to cut their losses and buy back the stock at the higher price or else risk financial ruin. This is called a short squeeze, and the buying from it, called short covering, also helps push the share price higher. ....

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