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Most Shorted NYSE Stocks Update
The following list represents the most shorted stocks on the NYSE as of mid November. The most shorted name continues to be Citigroup, by dint of the fact that it is one of the must churned companies in the HFT repertoire. As such the massive short position is not so much a negative bet on the name as much as a net offset to existing HFT longs, allowing the GETCOs of the world to churn their way into a DMM liquidity rebate nirvana.
The chart below shows the progression of shorting and covering over the past 2 months. The week ended November 15 saw a massive surge in F shorts, just in time for the GM IPO to cause a forced covering rally in the car maker, allowing GM to continue trading about 50% higher than fair value due to the paired presence of both names in most stat arbs baskets.
Lastly, the companies that are turly loathed are presented below: these are the top 25 stocks with the highest ratio of Short Interest to Average Daily Volume. While it is not surprising that some of these are ETFs (such as KRE, XRT and XOP, in some cases the ADV being even higher than the total float), the most ominous single names were FBP, MCO, WM, CTL, CPN, NYB and SFI, all of which had a SI/ADV ratio of >10.0x. If the State Streets of the world wanted to force the mother of all short squeezes all they would need to do is force some buy-ins in these 6 names, and the resultant price explosion would make the momentum chasing in NFLX and AMZN seem like amateur market manipulation hour in comparison.
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Hmmm Western Union - most interesting.
Small timer capital controls coming?
who the hell is shorting Hecla and why is apollo group (and the other for profit "educators") not on that list?
It's my understanding that Hecla is one of those stocks the "players" like to "play" with. I buy it every time they smack it into the mud, I think when the silver breakout occurs the HL shorts will get their heads handed to them.
yeah I caught the silver short squeeze with HL, made a quick 27% or so.
Hecla must be because it is a component of HUI index that the crooks want to supress like gold and silver. CDE is also a component and its short interest is very high
No, mostly immigrants use it to wire their made fortunes back home.
no more "capital" flights to mexico I think :)
wish i knew how to short a stock. but it seems a lot of financials are on the short list.
Just buy puts.
i was kidding. i have no idea what stock shorting is or what put buying means.
If you don't have expierence in option trading, now IS NOT the time to start trying it.
there's a 95% chance you'll lose it all.
+1
velo,
Years ago neophyte trader Bearing tried speculating in put options.
Results? I lost some or all of that spec money, 0 / 6.
And I have gone on to lose money in short ETFs... At least I made money in my main investments, especially gold.
As usual, many are trying to get rich and "make a killing" by shorting individual stocks.
No different than sport bettors constantly trying to bet against the top ranked teams.
They are fighting the tide.
Most important is the % of float sold short, and the number of days to cover. Especially among the strongest of stocks.
To look them up, check here:
http://finance.yahoo.com/q/ks?s=f
Note that Ford has 10% sold short, which would require 4 days to cover.
Here's one to watch: The strongest bank stock out there:
23% of the float is sold short, and it would take 39 days to cover....
LOL....
the volume isn't a indicator anymore these days because out of the blue it can pop 2000%.
Seen it happen already a dozen of times.
Brilliant! Month old data. Where do I sign up for your bullish newsletter?
just came from the Land of the Ozarks. fishing the White River, actually--and for the "elusive Golden Trout" of course. (They only exist in the West.) The "Wal-Mart newspaper" for lack of a better word reminded me of home: primarily a massive and rolling "failure to pay property taxes" report. I can think of no better place to be a truck driver or trout fisherman. Banking? Well... "there's always Branson."
There is a very serious possibility we have a BANK RUN December 7th. Please watch and share this video with the people you care about (http://youtu.be/U0KGv3Xw0KY).
Anonymous-
This is really scary guys, people are already talking about it and it has spread from France to the UK and now coming to the United States.
Sound like the Tony Robbins video....
The sheep are not that stupid, not even in Europe.
Can you imagine these guys cheering on their own demise by withdrawing cash out the of their own banks?
Where are they going to put it so they don't get ripped off?
I saw the Robbins video and agreed with the basic premise from a fundamental perspective...perhaps you believe people will continue to spend money until they are living out of a cardboard box.
I do.
You cannot be serious...that you do not understand this, robo.
The revolution this time around will be one of defunding. The Mutual Fund industry, as an example, is currrently being reformed through defunding. Folk cannot get enough of their money out of stocks so that they can claim to have helped make bagholders in NYNY.
Malls are in the process of being defunded...and since there is one every 100 feet in this country, it won't take but to keep sales numbers 15% below that of 2007...and the revolution of defunding will work.
Government agencies are also being defunded...but for now they continue to believe this is not the case...as their muni offers implode or prepare to implode.
The revolution is well under way in America, robo. And you are surprised that folk might defund crooked bankers in Europe? Seriously?
1. most people have a 500 euro limit a day on their cards.
2. most banks will just say they don't carry that much of cash and tell you to come back later.
Bank runs are so 1900's
Ummm...sure....and that will cause them to come back later and take 500 more...and again and again. Maybe drive crosstown to the next branch and hit them up, too.
What is your point?
If your bank card has a limit, go directly to the teller and politely inform them you wish to withdraw the lion's share of the balance from your account. Make sure you have plenty of picture ID, natch. When the teller waffles, insist on speaking with a manager. When the manager tells you that they require more 'notice', ask them again, in a slightly louder (but even extra-polite) goloss. Mention that when you opened the account you were under the distinct impression that access to the funds it contained was entirely at your discretion. Do not accept a cashier's cheque or bank draft. Repeat this process until they capitulate; unless they genuinely do not have your cash, or you are attempting to withdraw an amount over a daily limit (usually around 10k, it depends on your contract) they eventually will perform the transaction.
Do not leave without your cash; it is your cash after all.
This happened to me in late 2008 when I went in to withdraw a modest amount for a holiday. My former bank did not succeed in dissuading me, the above method worked beautifully, and I had a great time.
On the other hand: you could just start withdrawing your limit everyday until Dec.7 and beyond, starting right now.
Disclosure: All in my humble opinion, natch. Don't do anything illegal. Past performance doesn't guarantee future returns, you could lose money, etc. etc.
Regards
Just for grins:
Name of IBD Top 100 stock, and percent of float sold short:
NFLX 32%
CMG 14%
IGTE 13%
DECK 8%
AAPL only 1%!
At least AUY isn't in the top 50.
What I find most interesting is that they always seem to short the lower priced stocks. AA, C show that. It appears that they target the stocks were the Retail Invester is. No one shorts the High priced stocks as they are supported by the Investment Funds.
It seems to me that once a stock goes below $10. and heaven forbid $5. they will never let it back up. They keep pounding it into the sand. Yet, you have Aapl, Nflx, Amzn going parabolic.
Even with the Fed pumping money daily into the market the lower priced stocks do not have a chance. They do not move. Just look at Csco, Intc etc. I think Csco is on Wall Streets endangered list.
the "average investor" views "the low dollar amount price of a stock" and "views it as one views a loaf of bread that just dropped in price." i saw it first hand at my last employer. i never once uttered the word "you moron," either! i just waited and waited until "they would come to me ask what a reverse split is." in other words "go ahead and short Berkshire at 70,000 a share " or whatever it is. "You have to have 70,000 first" which of course "they don't have that." Now "as the price of Apple or Google or Netflix" rises "through simple dollar amount the cost of shorting rises." Far easier to "churn a 5 dollar Citi share with its aura of respectability." How Ford survived I'll never understand, although "thank God Nancy Pelosi is Calabrese" because I really believed "the government was going to wipe out the Blue Oval."
As usual, the coming "bank runs" are having no impact on U.S. shoppers...
Check out the stampede at Target, somebody falls at the front and people just trample the dude....
Remind us again how leveraged you are in retail stocks.
LOL
The guy on the left sees what has happened. Could have turned around and told the big dude with the grey hoodie that someone is hurt and to hold the line - HOLD THE LINE! We are all shepple feeding the machine...
Some time ago they showed a movie on the news about a guy the fell into a lake.
2 people where filming it
There where about 20 people looking.
And after 10 minutes he drowned.
Not a single person even got close to the water. Not a single one called the police.
After that, they where all shocked they where being sued for neglect.
This IS the world we live in.
People only think other people should act social and help each other, WHEN THEY NEED HELP THEMSELVES.
How idiotic. All that waiting, pushing for a few bucks discount they will also get the day after or when they go shop online.
I don't get it.
Same for sales in clothes. My wife prepares a hole week for those when these happen. And you know what? She only buys the new collections anyway and tries to make me believe she bought it at a 80% discount. I just love the look when she thinks she fooled me.
My fellow Americans; stupid, ill-bred SWINE towards whom I have felt little more than contempt for years.
A new race of wage slaves. They shall rent from me.
Happy Holidays!
Here's Mr. Greenwave predicting imminent scroomage on Aug. 25.
Right at the print low, where if you went long, you could have ridden the QQQQ from $44 to $54. This guy recommended shorting AAPL, where it was trading at $240, now it is at $315...
And there were countless screaming runs among various high tech stocks off that low. Too many to count.
FWIW.....
Mr. Greenwave may be right, in a general sense about the economy, but he's letting that make him unduly Bearish. What he refuses to accept is the pomp and pageantry of the Amazing Bearded One and the Technicolor POMO. He would have missed one of the best rally's in years coming out of the late August lows. That $SPX chart in the video showed a higher high and higher low since June '10 and he missed the possibility for a ramp up. C'mon!
Could someone give me a no-nonsense bull and bear case for Citigroup?
Or provide a link?
I'm not quite sure why it got beat to a pulp and didn't recover like (most of) the other banks did.
Simple:
CITI gets about 70 to 80% of thein income overseas.
+ Europe is one of them.
+ Europe sucks right now
+ (North Korea needs to be nuked * Asian markets shake and bake)
+ Chinese bubble fears
= Stock will keep going down untill 2 cases at least settle.
If after monday, the markets don't turn.
GET OUT
Otherwise, average down if monday closes green and ride till there's a 15% profit.
C long-dated OOM calls really cheap...
Their global retail banking exposure is probably enough to justify owning them.
They sold off half their retail brokerage unit, to MS which was smart, their brokerage was one of the first to close their technical analysis division, (not necessary after Greenspan and then Bernanke started propped up the market with liquidity). Despite what guys like Gasparino say, they have been making good decisions, and there is, or was very little blood on anyones hands during the crisis. Their new CFO is a pretty good guy.
disclosure (put my 90 yr mom in some of this), CITI appears to be the one bank the people in Washington know they need to save. Think of how they treated BOA and Ken Lewis, Pandit and company are not in the news much, and that's a good thing. If you want to buy it I think you should bank there, and see what you think.
the "bear case" is "if your stock drops below 5 dollars you are to be delisted you friggin' reprobate." Right now i'd like to slap the word "bank" on me so i can "trade on the NYSE" too "and pay myself outrageously" of course.
Why would you even mess w/ Citi other than as a ST trade...it's a dog. A dog with many fleas.
Talk of a bank run generated by some ex Footballer is idiotic in the extreme. This will turn out the same as the "boycott" of flying in the US in protest to the TSA's new "Grope a Dope" security policy. Which is to say there will be no measurable effect.
A bank run is possible, but only if it were due to a scare about a bank's solvency. That could develop in any # of places globally. In the US, I don't think we see a bank run from individual savers because Uncle Sam has the small guy's back w/ FDIC backstopping up to $200K (?) in deposits. 99% of the US public don't have > $200K sitting around in a bank savings account. So where will the panic come from? Likely from large institutions and hedge funds - an electronic run that will be silent to the public until it's already happened.
sounds like another good reason to get out now and buy some essentials.
you think those folks in argentina will get their money back?
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