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The Invisible Hand Of The Market

One day after a Dow Theory bear market confirmation and one day after breaking the long term trendline from the 2011 and 2014 lows, and after bears had gotten heavily short,  the “invisible hand” of the market once again leads them to slaughter. Their short covering only added to the panic on the upside.  The problem is that over time, most of the shorts will be dead, and then there won’t be enough cover-buying from the short side to trigger rallies like this.

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