By CCN: Dow Jones futures ripped higher in early trading Wednesday as short-sellers were forced to close out their positions. The epic short squeeze whipped up more momentum for the full-throttle rally that pushed the Dow to its second-best day of the year on Tuesday. The 500 point relief rally was triggered by Federal Reserve chairman Jerome Powell who turned dovish on Tuesday. But the tear higher was amplified by a short-squeeze which slaughtered hedge funds betting against the market. While the Dow chalked up two percent gains, short-sellers were hit hard. As Bloomberg reported: “Bearish traders had their worst
The post Dow Futures Rages Higher as Short-Sellers Get Slaughtered in Bloodbath appeared first on CCN
* First published on ccn.com
