I'm back from my short vacation and there is quite a bit of interesting market action to digest. One notable event is the massive break out in Pfizer (PFE). PFE has been a great short for most of spring and summer but it has recently shown some signs of improving price action. Then PFE released earnings on Tuesday and there's been no looking back so far. Check out the daily chart:
As you can see, there was a big gap up and then follow through strength. It has the look of a good old fashioned short squeeze...somewhat reminiscent of MON, another recent short squeeze that has had follow through. As always, both time and price will tell.
TLT
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