Stocks Surge In Massive Squeeze As Traders Frontrun End of Buyback Blackout Period

After the worst week for stocks since the March 2023 bank crisis, and after 6 consecutive weeks of Nasdaq declines, not to mention dealer gamma collapsing and CTAs still facing billions in forced selling, market sentiment was near-apocalyptic… at least until we reminded traders this morning that the cavalry was, indeed, coming when – just as spoos bottomed a little over 5,000 – we posted that the buyback blackout period that had snuffed bullish sentiment a month ago, was to end this Friday. 

The rest, as they say, is history and stocks are now about 60 points higher at session highs…

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