My view: these short squeezes (caused by WSB and others) are nothing systemic (they won't break markets or big players). We will need something serious/big to be concerned about the stability of the system. I hope I am not wrong!
I think this could escalate - we are seeing record level degrossing *and* denetting among long/short funds and they are still near cycle highs on both metrics. If it continues we will see bigger S&P sell offs than the one yesterday.