It hasn’t felt like it but tech has been improving over recent weeks but some stocks certainly have with heavyweight Xero (XRO) bouncing almost 20%, we should remind ourselves at times that Australian tech is not just Afterpay (APT). US tech is currently carrying the 3rd largest speculative short position in history which gives the perfect backdrop for a sharp bounce, at MM we remain selectively bullish equities with a significant bounce/short squeeze in technology through April our preferred scenario – this is likely to send the S&P500 above the psychological 4000 area.
MM is bullish XRO from current levels
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