"Yesterday gave me some hope but after seeing futures rise again this morning I figured I had to get out. At least I covered close to the low today. The volume on the leveraged ETFs (long and short) indicate that there's still a good amount of shorts out there although they do appear to be diminishing."
I did a calculation yesterday to determine what the price of SPY would be if all shorts had to cover in an orderly manner and came up with a $145 number. If I can calculate that number, you know that the market makers can also calculate that number.
Yeah, I was the one that created that topic. How exactly did you get that information? I remember you saying you mainly play the futures market. I'm curious as I'd be interested in playing/avoiding short squeezes in the future.