Greenberg: The Reverse of Short-Squeeze Giddiness
SAN DIEGO (TheStreet
) -- I've read and watched and listened to countless market pundits (me included) pontificate about what this market decline is all about and how it will end.
I have no idea how it will end. Bulletin: Neither does anybody else. But as we watch momentum-in-reverse, as I like to call it, there's something else at work here: There don't appear to be natural buyers for many of these stocks. In fact, if I look at my screen (which I included in this tweet
) some of those that have been squeezed up the most are among those hitting hardest.
Topping the list: Education Management
, off 67%. That may not be the best example, but then right below it: 3-D Systems
(DDD - Get Report)
(NSR), Nu Skin
and ITT Education
. Others in the top quadrant include Best Buy
The list goes on and on.
: As this market has been spiraling higher one of the warnings from the likes of me, my colleague Doug Kass and a bunch of others who have been laughed off the stage: When you squeeze out the shorts, you may get that pop, but beware of what you wish for because the natural buyers will be gone -- and stocks will fall in a vacuum.
-- Written by Herb Greenberg in San Diego