Last night when I went to bed it was around 1 PM in USA and I was looking at some really crazy numbers on all scans(India is around 10 hours time difference, it is 7 A.M. here now as I write this). I thought the data is corrupted. Several stocks were flying. The small caps were melting up like never before.
First thing in the morning I triple checked the numbers.
1063 breakouts on upside within few days of market taking a severe beating and after 2 days of back to back 300 plus upside breakout days is really crazy action. Looks like massive asset allocation or re balancing trade. That seems to have squeezed shorts mightily.
This is pure delight for day traders.