Tuesday, May 31, 2016

Markets to rally higher by end of this week

When all the markets reversed to the upside, after having opened lower and then gotten higher on the day, I said to myself, 'this is turning better, something's taking place. Perhaps it was the agreement that was reached between the EU (European Union) fiscal authorities and Greece… that seemed to me to be the turning point and once you got higher on the day, it's as if the shorts, I being included, had to rush to get long and I actually ended the day long here, which is unusual for me to turn my position that quickly.

Anybody who is short and there are a lot of smart people out there that are heavily short and they will have to run to cover. It can get real ugly.