SFLA - Waiting For The Bears To Say 'Uncle'
When investors’ nerves are wound tight, it doesn’t take much to set off an emotional reaction which can lead to a major short-covering episode. We got a small taste of that after the 1% pullback in the S&P 500 Index (SPY) on Thursday, as the long frustrated bears were heard growling with delight. As we’ll discuss here, however, a pullback in a market environment this technically strong can be quickly reversed. More importantly, any additional market weakness in the immediate term will result in even a short interest build-up that will serve as the catalyst