If you can't short stocks, you need to short the futures before you sell your stocks, especially if you are in liquidation mode. Isn't that what happened in 1987? But then, it was "portfolio insurance."
Now it is another trading strategy that amplified the meltdown. And the other side of the short futures is tremendous. And so is the the other side of the most owned list that the hedge funds have been shorting against.
Already from their early morning lows stocks are up over 5-6%.
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