from: http://www.websiteto...post?id=1975112
Quote:
NEW YORK, June 21 (Reuters) - Short interest on the New York Stock Exchange rose 6.1 percent in June to another record high, the exchange said on Thursday, signaling a rise in bearish sentiment among investors.
As of June 15, the number of short-selling positions rose to about 12.47 billion shares from 11.76 billion shares in the previous month.
Short interest on June 15 was equal to 3.3 percent of the total shares outstanding on the NYSE.
This is a 30% increase in short interest in just 4 months.
IWM remains the issue with the largest short interest at 290 Million shares shorted which represents 253% of the float, meaning that 176 Million of the shorted shares are phantom shares (ie. do not exist). Why the SEC continues to turn a blind eye to these kinds of abuses is a mystery. Well, actually not too much of a mystery considering that Hedge Funds which are the main abusers, are becoming major players in the political lobbying and campaign contributions game.
Record Short Interest
Started by
Russ
, Jun 27 2007 08:37 PM
4 replies to this topic
#1
Posted 27 June 2007 - 08:37 PM
"Nulla tenaci invia est via" - Latin for "For the tenacious, no road is impossible".
"In order to master the markets, you must first master yourself" ... JP Morgan
"Most people lose money because they cannot admit they are wrong"... Martin Armstrong
http://marketvisions.blogspot.com/
"In order to master the markets, you must first master yourself" ... JP Morgan
"Most people lose money because they cannot admit they are wrong"... Martin Armstrong
http://marketvisions.blogspot.com/
#2
Posted 27 June 2007 - 08:41 PM
-at least in the short run.
GD
#3
Posted 27 June 2007 - 09:03 PM
Mother of all short covering rallies coming...
Edited by nimblebear, 27 June 2007 - 09:04 PM.
OTIS.
#4
Posted 27 June 2007 - 09:32 PM
Mother of all short covering rallies coming...
I totally agree with this. Last year the rally started in July. Will it happen again this year?
Rich
#5
Posted 28 June 2007 - 01:23 AM
what can we conclude from this short interest? can this market despite ALL it's internal weakness - and there are many - continue to move forward?
are we at a point in the us stock market where there is no other solution, but a blow-off/parabolic move up? it appears that the much talked about climactic finish is practically inevitable, the longer this aging bull fights the worse the short interest condition will get. unless we get a 1987 style melt-up, this market cannot go down for any kind of meaningful period.
or will the summations and internals take over and cause a correction anyway. i sure am confused.
“be right and sit tight”