This thing has been ripping to the downside for what seems like eternity. Now we know the picture of what is going on. Obviously something like this has been anticipated. Maybe we actually begin to settle out here after the initial panic??? Should be an interesting morning.
Right, most of the shorts will now cover. The old adage works in reverse for shorts i.e. buy (sell short)on the rumor sell (buy, cover short) on the news. Today is no doubt the news. I'll be covering at todays lows.