Sentiment Update

Thanks again to our member Sam who monitors the Twitter (StockTwits) stream for the overall sentiment, right now retail is still bearish, they see this as an opportunity to short in to.

I'm glad to have received that email because other than some pre-market (perhaps algo induced) covering in a very thin market, we haven't seen anything yet that looks like a short squeeze except late yesterday afternoon.

Typically a short squeeze will look almost like a diagonal line moving up with very few intraday pullbacks, volume will pick up at important areas such as the ones I gave you yesterday, at 50/200 moving averages in various timeframes, whole numbers and of course support or resistance areas.

If shorts will add in this area (perhaps that's why we are seeing some gap fills), that leaves the market in a good place for a squeeze considering yesterday's late day activity which was a little more bullish than I would have preferred to see.