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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 695.17

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4:00 PM EST

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To: HairBall who started this subject	5/22/2001 10:38:36 AM
From: t2	Read Replies (1) of 99985

Interesting comments on short interest data released yesterday. It explains why the market has to go up on even a glimmer of hope in the tech sector. realmoney.com Doug Kass 5/22/01 A further reflection of investors' caution was yesterday's release of short interest statistics. New York Stock Exchange shorts rose by almost 3% to 5.5 billion shares. More remarkable was the 24% increase in American Stock Exchange shorts -- to a record 292 million shares -- with most of the gains in the QQQ (QQQ:Amex), the tracking stock for the Nasdaq 100 Index! Another contrary indicator is the short interest ratio, which is the number of trading days at the exchange's average daily volume required to convert the total short-interest position. That ratio rose from 4.3 to 4.8 in the latest report.

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