Priceless! (from optioninvestor.com)
Will all short sellers please raise your hands! The smell of blood is in the air, and the bulls are gaining confidence, with a great deal of more upside in the making. With volume exploding these last several days, we would not be surprised to the Nasdaq continuing with its tear. When was the last time you witnessed stocks opening up +35-50 like the last several days? It's been awhile. The combination of all the cash on the sidelines being used with the fact that the shorts are getting squeezed makes more upside inevitable.
Below is a quick list of short interest for the Nasdaq. Obviously, heavily shorted stocks have bearish sentiment, which from a contrarian standpoint, is actually positive. It can be very useful because you can visually see what stocks will have more buying pressure if the shorts run for cover. Just witness what E-Trade and Knight-Trimark did today. As a side note, short interest for the Nasdaq reached an all-time high just a week ago and increased 5% from the previous month.
Tuesday, October 26, 1999
Largest Short Positions
Rank Oct. 15 Sep. 15 Change
1 Cisco Sys 41,913,992 35,312,823 6,601,169
2 Intel 37,586,522 40,997,360 -3,410,838
3 Amazon.Com 36,919,383 34,876,997 2,042,386
4 Microsoft 31,735,669 28,481,691 3,253,978
5 Dell Computer 27,837,444 31,307,826 -3,470,382
6 E*trade Group 26,757,152 25,530,010 1,227,142
7 Qwest Commun Intl 25,238,901 22,161,123 3,077,778
8 MCI Worldcom 25,113,459 26,800,772 -1,687,313
9 Global Crossing 24,942,658 26,648,550 -1,705,892
10 Nextel Com A 23,975,398 22,531,948 1,443,450
11 Oracle 22,742,493 20,457,354 2,285,139
12 Peoplesoft 18,263,768 16,527,648 1,736,120
13 AT Home 17,379,044 13,297,863 4,081,181
14 Global Telesystems 17,033,114 15,948,859 1,084,255
15 Knight/Trimark GR 17,004,749 10,497,289 6,507,460
Largest Changes
Rank Oct. 15 Sep. 15 Change
1 Cisco Sys 41,913,992 35,312,823 6,601,169
2 Knight/Trimark GR 17,004,749 10,497,289 6,507,460
3 Level 3 Comm 10,589,705 4,558,524 6,031,181
4 Yahoo 12,586,194 8,161,630 4,424,564
5 AT Home 17,379,044 13,297,863 4,081,181
6 Ventiv Health 3,319,952 0 3,319,952
7 Microsoft 31,735,669 28,481,691 3,253,978
1 Adelphia Commun 3,010,507 7,725,666 -4,715,159
2 ADC Telecommun 6,517,390 10,104,783 -3,587,393
3 Dell Computer 27,837,444 31,307,826 -3,470,382
4 Intel 37,586,522 40,997,360 -3,410,838
5 Charter One Finl 946,494 3,705,639 -2,759,145
6 Sunrise Assisted 2,800,231 5,356,508 -2,556,277
7 Applied Materials 7,459,561 9,780,909 -2,321,348
Largest Short Interest Ratios The short interest ratio is the number of days it would take to cover the short interest if trading continued at the average daily volume for the month. For a complete list of short interest, you can go to: marketdata.nasdaq.com |
