Crude Craters Through Nymex Close As Stock Short-Squeeze Ends

Party's over?

Crude clubbed into and through the NYMEX close...ahead of tonight's China GDP.

 

And as JPMorgan's trading desk notes, March brought the heaviest net covering seen by the Prime Brokerage in several years. Activity was skewed towards single names but ETF activity also was strong. All sectors experienced net covering, with Energy and Consumer, Cyclicals in the lead.

And the huge squeeze of the last 2 days has ended today...

 

With VIX and USD/JPY used to desperately keep S&P green

 

Still plenty of time left in the day yet for a late-day buying panic.