00:00 Derek, we caught so many people maybe short, you know, obviously, you know, we got a failed
00:05 breakdown at Nvidia under 400.
00:08 And all of a sudden, you know, it just boom, it turns around, it goes up 15% and basically
00:12 four trading sessions here.
00:15 Is there the possibility that we just have underneath demand because there's still shorts
00:17 caught here?
00:18 Yeah, absolutely.
00:19 Sentiment at this point is still extremely negative.
00:24 CTAs are net short $52 billion in US equities, and they're set to buy throughout this week,
00:31 no matter what the scenario is in the market.
00:33 I think CTA flows in a flat tape are the highest from a buying perspective that has ever been
00:40 expected on flat tape for this week, which is impressive.
00:43 It's at the same time as we're coming into the strongest month of the year for buybacks.
00:48 I read a Goldman note that says that they're expecting $5 billion in demand per day and
00:53 buying buybacks throughout this month, basically starting today.
00:56 So there's a lot of flow of funds that are really positive in this market at the same
01:01 time where people are caught short and sentiment is still really negative.
01:06 It's ripe for a solid upside squeeze with that.
01:11 And that's why I'm saying it's very difficult to be short right now in this market, but
01:14 you still have to pay for your extension.
01:16 Friday last week, we just hit extreme extension to the upside and you need time or price correction.
01:22 I think dips in this market are to be bought right now.
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