Today was a good day to be short the shorts — long the most heavily shorted stocks. Big move in First Solar, the most heavily shorted stock in the S&P500, up 10.52% We have our doubts about this bounce. If we doubt our doubt about the bounce, that is, lack confidence in our lack of confidence in the market, does that mean we believe the market will go up? And there’s the rub, folks, and epitomizes the character of this wicked market. Keep a tight one.
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Global Macro Monitor 
I think the shorts will have a wonderful December, the pre-January effect (where stocks go down in December) will be heavily felt this year. Bank stocks and other non-performing stocks should be heavily shorted, and then bought back before December 10th.