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Strategies & Market Trends : MDA - Market Direction Analysis -- Ignore unavailable to you. Want to Upgrade?

To: JRI who wrote (73362)	3/26/2001 11:39:12 PM
From: Crimson Ghost	Respond to of 99985

Short interest on Nasdaq rises to highest in the last year 3/26/2001 5:54:00 PM NEW YORK , March 26 (Reuters) - Short interest in stocks listed on the Nasdaq Stock Market rose in March to 3.61 billion shares, the highest monthly total in more than a year, according to the Nasdaq. The volume represented 1.57 times the market's average daily volume. Short selling is when investors sell borrowed shares with the hope of buying back the stock at a lower price, returning the stock and profiting from the difference. If stocks start to rally, short sellers are often forced to buy back into the market to reduce profits, propelling prices even higher. A drop in short interest may indicate some investors anticipate a rally, while a rise may show some investors expect a decline in stocks. The March figure reversed a decline in short interest from when it saw its 2000 peak in December of 3.49 billion shares. Short interest in February was reported at 3.44 billion shares. The Nasdaq Composite Index has lost more than 62 percent from its March high in 2000, and is now hovering near a two-and-a-half-year low at 1,918.49 on Monday. The open short-interest reported for each Nasdaq security reflects the total number of shares sold short by all broker/dealers, the Nasdaq said.