ProShares Ultra Short S&P 500 (SDS) surged 3.41% in Friday
by MDM Partners
MDM Partners has a May long call option in SDS and gained almost 300% from it’s bet. The german people vote against the greek bailout, now that’s all in quesiton again. Remember 2008 when hedge funds were liquidating their positions to raise cash? It was always sell on the rally, so that they could get a better price. Same thing happened on friday. Same thing will happen on Monday. Plus you have the mutual funds coming in with the selling pressure.
Mutual funds had the lowest % of cash in decades at around 3-4%…the only buyers this will will be the PPT and day traders should trying to get the 10% bounce from QCOM.
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