Dec 8 Post

If you've never seen a short squeeze before, you are in luck. Take a look at the 298 point gain today. Obama talking about a big stimulus plan over the weekend really moved the market today. China and India also announced huge stimulus programs over the weekend. Australia started putting stimulus money into accounts today. This moved up stocks that would benefit from infrastructure. US Steel was up 31% at one point today. Plus the financials kept the Friday squeeze going.
This just in....
FedEx revised its fiscal 2009 earnings forecast to no more than $4.75 a share from as much as $5.25, blaming the “significantly weaker” economy. This is huge!!
Texas Instruments cut its Q4 revenue guidance by 20% and profit guidance by 60%.
Con-way Inc. reduced its work force by 8% in response to "unprecedented economic conditions" that has business volumes back down to roughly 2003 levels.
Advantage Rent A Car Files for Chapter 11
These stories just came out. Almost everytime I look at my news ticker another bad story is coming out. This is only picking up speed.
There is no way the market will blow off the FedEx news. They move markets. The futures are already showing weakness. I think the short squeeze is over and the shorts will be loading up tomorrow. Stay short!!