12 replies to this topic

[jmicou]

Saw this posted at another forum. Use to keep charts of it, but quit due to limited time. Thought it might be of interest:

NYSE Short Interest

[Rogerdodger]

Thanks for posting this update.

Of course it is completely meaningless because:
1. Sentiment does not work.
2. Even if it did, these numbers are from a couple of weeks ago.

NEW YORK, May 21 (Reuters) - Short interest on the New York Stock Exchange rose to a record high in May, the exchange said on Monday, signaling a rise in bearish sentiment even as the stock market soars.
As of May 10, the number of short-selling positions rose to 11.76 billion shares from about 10.99 billion shares in the previous month.
Short interest on May 10 was equal to 3.1 percent of the total shares outstanding on the NYSE.

I'm just kidding of course.
I have painful memories of a hot stove.
Years ago, I read Carl's Decision Point when it was part of AOL's content.
He kept showing the very high short ratio as bullish but "the experts" were saying the market was too high.
I figured the "experts" must be correct and the "facts" must be wrong.

Edited by Rogerdodger, 21 May 2007 - 11:44 PM.

[jmicou]

Thanks for posting this update.

Of course it is completely meaningless because:
1. Sentiment does not work.
2. Even if it did, these numbers are from a couple of weeks ago.

NEW YORK, May 21 (Reuters) - Short interest on the New York Stock Exchange rose to a record high in May, the exchange said on Monday, signaling a rise in bearish sentiment even as the stock market soars.

As of May 10, the number of short-selling positions rose to 11.76 billion shares from about 10.99 billion shares in the previous month.

Short interest on May 10 was equal to 3.1 percent of the total shares outstanding on the NYSE.

Thanks. I forgot. Like the COT, the data is lagging and thus, meaningless.

Edited by jmicou, 21 May 2007 - 11:43 PM.

[Rogerdodger]

Yeah. They probably covered the 11 billion shares last week.

[atlasshrugged]

Thanks for posting this update.

Of course it is completely meaningless because:
1. Sentiment does not work.
2. Even if it did, these numbers are from a couple of weeks ago.

NEW YORK, May 21 (Reuters) - Short interest on the New York Stock Exchange rose to a record high in May, the exchange said on Monday, signaling a rise in bearish sentiment even as the stock market soars.
As of May 10, the number of short-selling positions rose to 11.76 billion shares from about 10.99 billion shares in the previous month.
Short interest on May 10 was equal to 3.1 percent of the total shares outstanding on the NYSE.

I'm just kidding of course.
I have painful memories of a hot stove.
Years ago, I read Carl's Decision Point when it was part of AOL's content.
He kept showing the very high short ratio as bullish but "the experts" were saying the market was too high.
I figured the "experts" must be correct and the "facts" must be wrong.

Amen Roger AMEN!!! me too!!

[jmicou]

Thanks for posting this update.

Of course it is completely meaningless because:
1. Sentiment does not work.
2. Even if it did, these numbers are from a couple of weeks ago.

NEW YORK, May 21 (Reuters) - Short interest on the New York Stock Exchange rose to a record high in May, the exchange said on Monday, signaling a rise in bearish sentiment even as the stock market soars.
As of May 10, the number of short-selling positions rose to 11.76 billion shares from about 10.99 billion shares in the previous month.
Short interest on May 10 was equal to 3.1 percent of the total shares outstanding on the NYSE.

I'm just kidding of course.
I have painful memories of a hot stove.
Years ago, I read Carl's Decision Point when it was part of AOL's content.
He kept showing the very high short ratio as bullish but "the experts" were saying the market was too high.
I figured the "experts" must be correct and the "facts" must be wrong.

At some point, this market will correct significantly. But that begs the question as to when and at what level. For the most part, the rise and been a slow grind that has been, evidently, deceptive to many. It reminds me of the "How to Boil a Frog Anecdote":

"To Boil a frog, do not put it in boiling water. It will jump out immediately.

Put the live frog in cold water in a pan. Put the pan over a low fire. The water heats up slowly. As it gets to boiling point, notice the frog does not move at all. It is dead. You have successfully cooked the frog by boiling."

[arbman]

I saw the same thing, but I have to also remind that the option speculation in the equities has been getting very bearish in May. Perhaps people are selling the shares short and hedging with the call options. Similarly, I also think that the COT is not reflecting the directional plays, but rather some sort of hedging activity. I am not saying that it will not go up with so much cautious positioning, but rather the numbers are looking to me like they are mostly professional money management than the dumb crowd throwing their money in the short side. I am following the price and volume before all of its derivatives...

[jmicou]

I saw the same thing, but I have to also remind that the option speculation in the equities has been getting very bearish in May. Perhaps people are selling the shares short and hedging with the call options. Similarly, I also think that the COT is not reflecting the directional plays, but rather some sort of hedging activity. I am not saying that it will not go up with so much cautious positioning, but rather the numbers are looking to me like they are mostly professional money management than the dumb crowd throwing their money in the short side. I am following the price and volume before all of its derivatives...

Price and volume have been bullish, too.

[arbman]

I didn't say it was bearish, I am long...

since last week...

[jmicou]

I didn't say it was bearish, I am long...

since last week...

My comment was not suggestive of your position; it was one about the condition of the markets for many months.

regards,

jmicou