A lot of Friday's action was due to short-covering after the labor report looked weaker than people had expected. But the upcoming supply forces people to question whether they really want to endorse these lower yield levels.
Quotes about short-covering (16 Quotes)
We saw some short-covering but also saw some large institutional buying. We saw a little retail buying but still not a rush of retail buying. We need to see more conviction before that happens.
We're seeing some good old-fashioned short-covering in over-sold market conditions. There's a 'take no prisoners' kind of market mentality at play. Investors are playing it close to the vest and the feeling is that more can go wrong than can go right.
There are two things that got this rally started late last week -- short-covering and an expectation that this (war) action will be brief, ... If this war is executed right, you could see a bounce off the action, but it's going to remain volatile this week with so much up in the air.
We've been rallying on the weather and on short-covering ahead of Thanksgiving in the States.
Before the Easter vacation there was short-covering in London as next Wednesday is also the settlement day there, so after the vacation there should be more stop-loss buying.
The yen did gain on the inflation numbers initially. It then took out some key levels and we saw a massive bout of short-covering in dollaryen.
The Iranian nuclear issue is driving the market. Traders are short-covering because they know if something happens in Iran the market would be in confusion. The issue poses a threat of supply disruption in a major oil-producing country.
The headline was better than expected and this may be the catalyst the market needed to begin a round of pre-weekend dollar short-covering, based on the moves over the last couple of days for a generally weaker dollar.
It seemed to be a little bit more of profit-taking and short-covering ahead of tomorrow's interest rate announcement than anything else.
The Nasdaq hit its Sept. 21 low, it held that level and then you saw it starting to rise. There was a lot of short-covering and there's really only so much that short-covering can do to the market. I am afraid it may be only a temporary measure here.
Short-covering has brought stocks back a little, but you've got very little volume and the rhetoric of the potential attack against Iraq and the September 11th anniversary hanging over markets.
There's not a lot of activity, but the bond was severely oversold (Friday) and without follow-through selling today, we're seeing some short-covering behavior.
The higher short interest goes, the more eventual buyers there will be, ... It represents buying potential, because the shorts can't book profits without buying. These short-covering rallies take about one-and-a-half trading sessions, but they can't be seen as an overly bullish sign.
I think we saw a little short-covering late in the day. Tomorrow should be a fairly slow morning and you might have a little flattening out of positions ahead of the Fed. I think overall, all eyes will be on the Fed.
I think were just having a little short-covering ahead of the weekend. We often see a bit of bottom-fishing when the yield is around 4.5.