Did you see that they are reporting that NYSE short-interest is at a record high. That's worrisome for the bears don't you think?
I don't really see it that way in the short term:
Based on information received from members and member organizations, short interest increased to a record 5,577,217,366 shares on June15, 2001 from 5,512,609,817 shares on May 15, 2001.The short interest on June 15, 2001 was equal to 1.7 percent of the total shares on the Exchange.
Is that too many people to be right one of these days? That probably just reflects the added short interest in the gold diggers -bg- besides, shorting old economy is for lunatics, just look at those great retailers go, people selling that sh*t are too crazy to go contrarian against, just like that Crystal Ball dude -vbg-
BTW, the highest short interest on the NYSE in 1987 was on 8/14, in 1998 it was on 9/15, 1999 11/13, and in 2000 was on 12/15, so each preceded some nice dips fwiw (which were all of course buying opportunities)...
nyse.com (p.109)
stockcharts.com
Everyone seems so be looking up again and Friday showed how jumpy some of the money is. I have a hard time seeing the 'Dung make much of a move without the INDU's cooperation but maybe someway somehow they start beating the sandbagged estimates..but first we need some down I think, sentiment is ridiculous, but wtf knows? I got calls just in case, thanks for GLW btw. |
