Loading ...Distribution Grows Less Subtle
Rick Ackerman April 28, 2020 9:45 pm
DaBoyz jettisoned subtlety on Tuesday as they attempted to distribute as much stock as possible into a bull cycle begun last week that appears to be losing steam. The increasing urgency of this task was evident on the opening bar, a bull-trap rally that notched the high of the day. Thereafter, the futures sold off 60 points over the next hour and spent the rest of the session screwing the pooch**. Don’t count the sleazeballs out, however, since they were hard at work squeezing shorts with a mid-evening rally designed to take advantage of poor liquidity and a dearth of sellers. The smart ones will hold off shorting until their hapless ursine [BEAR] bretheren have paid the full price for being early.
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The phrase screw the pooch, meaning to mess up, commit a grievous error, was made famous in Tom Wolfe’s book The Right Stuff. The phrase is a euphemism from US military slang. The original expression was fuck the dog and meant to waste time, to loaf on the job.