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Bloomberg
It is fair to say that short sellers have won this round. These investors, who typically bet on the price of an equity or asset going down, have made a killing amid the broader selloff that has roiled US financial markets for the past month.
The time has now come to protect those profits before stocks start potentially rebounding. The S&P 500 Index gained nearly 10% on hopes Congress will pass a massive spending plan to help boost an economy that has been brought to an abrupt halt by the global coronavirus pandemic.