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No New Shorts In Early November As NYSE Short Interest Drops To 3 Month Low
Following the market drop in early November, it was widely expected by most, us included, that stock shorts would pile in once again, only to be burned by moves like today's, which is more of an attempt to flush out even more shorts by hitting limit pain thresholds, than buying on any actual fundamental improvements. Curiously, as the just released NYSE data, the short interest at November 15, not only did not increase in the previous two week period, it dropped to a 3 month low of 14.1 billion shares, just down from October 31. Which means that there were no new weak hands, and that all the algos who are pushing the market higher on hopes that short covering will take it even higher once a limit waterfall begins are likely to be disappointed. And with fundamentals completely irrelevant, this data update also likely means that shorts will take this opportunity to reshort the market.
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I agree Tyler,,but there is no volume on either side of the market....just a scary wasteland...
Please note that short interest is as of settlement date - i.e., the numbers show data through trade date November 10 when the S&P was still at 1239. That compare to 1242 on October 26 (the previous short interest trade date). Unchanged short interest is what "should" have been expected.
Who has a chart of the last years SPX volume. Three months ago volume was low, and now its half of where it was then. Historically, is the current volume that much lower than in years past, and has low volume had a positive or negative impact on market?
There's an old adage that it takes high volume to put stocks up in a meaningful way, but that it doesn't take any volume at all for them to fall a long ways. In fact, falls on exceedingly high volume often indicate a bottom is being put in and a reversal is underway. We certainly didn't have that last week.
A huge gap up with no volume to sustain it, as we have today, makes it a good bet that we don't have a bottom put in, and that stocks are going lower, perhaps as early as tomorrow. Easy money for those who don't leverage themselves beyond the sleeping-at-night point.
Good stuff, thanks Sunset.
That's the truth Truth!
RESHORT THIS MOTHERFUCKER!
Still waiting for ES to take a dump. It's really been building pressure all morning. Time to squeeze a fat one out. Short and brown. I'm assuming we are all just waiting for any piece of "reality" news to hit for the dumpoff... If it's another rumor-cum-nada ramp without the refutation sell, imma be mad.
Woot! No surprises here. Only the naive did not see an attempted holiday ramp brewing.
So in other words, bulls are left holding the bag at the moment.
Had me fooled.
'And with fundamentals completely irrelevant, this data update also likely means that shorts will take this opportunity to reshort the market.'
Not right away... but shortly.
Financial look particularly attractive to short with MS, BCS, and BAC all very over bought (up ~8-10% at the days highs)
Short and naked is how I make my living. The SEC is my best customer so clearly they approve.
Who the hell junked you, MIDGETRANNYPORN. We have an intruder.
" likely means that shorts will take this opportunity to reshort the market."
I did. :D
Two flags.. double top.. compressing lower ha ha ha........
Whos's your daddy!
printing commences HAHAHAHAHAH
Damn.. I shouldn't do that.. but just put my third trade on ten minutes ago and was getting a little giddy.
Sure don't want to have my words shoved up my butt.
The flesh eating disease is beginning to eat itself.
It's all about three little letters, as easy as A-B-C, only not in that order.
Hint: It's Bank of America.
BAC is up damn near twenty cents. That's almost +5% so don't laugh mmm kay? [/sarcasm]
I still get the feeling that if BAC drops far enough, the short selling ban will come back into play. Take the money off the table when you get the chance.
No squeeze. Must fade the hopium. When does the real data about Black Friday come - February?
Whenever that data is no longer perceived as a 'market threat'.
I do believe I shall now call myself "RESHORT the STALWART!". I shall hope that printing does not come too soon!
I have no postions in either stock, they scare me....but hear Muddy Waters....on the attack on SINA or BIDU....be careful. could get fucking ugly on the long side or short.....
No shorts to squeeze, so this will be a real short lived pop.
Absolutely, banks are looking to hurt the shorts whom they can pefectly see coming through the short ETFs and put options they are themselves selling to them... All for the best in a new and different form of "reverse" front running...
Of course! Look, you don't get many chances like this chance today, with stupidity raging and sense entirely absent. Of course they will sell this nonsense today. Of course!
slewie gots new shorts
the were on clearance @ kohl's
well, technically, briefs
The End
I love ZH. The info is fantastic. One problem I have is the language allowed on this site. I do not like the FED, Government, Central Banks globally and how they are robbing us all. I watch political crooks all over and speak my mind about it, however I do it without the foul language.
Please keep it clean. I use many of these sites to educate my 12 year old to reality. She doesn't need to be exposed to such unnecessary language.
Thank you and Merry Christmas.
Been thru this discusuion before. Not the place for your 12 year old, or my 10 year old.
Or my thirteen year old... ... girlfriend.
No doubt Sandy is Million Dollar Bonus... I can see this pot stirrer a mile away no matter what name they sign in as... Merry X-Mas to you too MBD...
Good luck with that.
Reality ain't pretty. It's pretty shitty. She'll learn that soon enough.
the public has no clue just how dark their satanic masters are... although events like the sandusky airing of dirty laundry give just a slight taste... but that is just the tip of the iceberg.
Just the tip?
Thank you, thank you, I'll be here all week!
Golly gosh gee whiz, Sandy15. We sure will do our darnedest to maintain a clean-cut comments section here on ZeroHedge.
Should we not get in to the reality that there is no Santa Claus, either? Or is your 12-year-old grown up enough to understand that ol' Saint Nick is a lie, too. Just as we in the Fascist States of Amerikkka are neither brave nor free?
"Following the market drop in early November, it was widely expected by most, us included, that stock shorts would pile in once again, only to be burned by moves like today's, which is more of an attempt to flush out even more shorts by hitting limit pain thresholds, than buying on any actual fundamental improvements. Curiously, as the just released NYSE data, the short interest at November 15, not only did not increase in the previous two week period, it dropped to a 3 month low of 14.1 billion shares, just down from October 31. Which means that there were no new weak hands, and that all the algos who are pushing the market higher on hopes that short covering will take it even higher once a limit waterfall begins are likely to be disappointed. And with fundamentals completely irrelevant, this data update also likely means that shorts will take this opportunity to reshort the market. "
I'm still not seeing any foul language in the article. You can, therefore, use the site to educate your children. Just print the article and discuss with them.
As for the fucking comments section, don't expect us to alter our behavior because you wish good parenting took less work. If you don't fucking like it, don't fucking read it. And don't let the offspring which were brought about through the act of fucking your wife / girlfriend / what the fuck ever read the comments.
Don't even try to impede on our liberty to swear like drunken sailors just because you don't approve, asshole.
Edit: I almost forgot.............Merry Christmas to you and yours as well =)
I think the obvious response to your post would be a profanity filled rant, or an explanation of how this is no longer the 1800s and this is not the Emily Post forum. However, this being the holiday season, I'll keep it clean. Grow up.
And a gift in the form of an internet classic, https://www.youtube.com/watch?v=CCcCzj_yRtk
fuck censorship
why should you make her afraid of words???
I knew every foul languaged word before I was 12. Learned every word I needed to know on the playground. Good luck with preventing your 12 year old from hearing foul language.
You are going to get fucking rained on for this shit.
I find your use of the word "Christmas" offensive- please watch your language while posting here, I'm delicate.......
If you're letting a 12 yr old read this stuff, you're more twisted than the rest of us........
Fuck you!
Today, like every day since last Friday, is part of a highly orchestrated propaganda campaign. See Bernays, Edward for more information.
Would also love to see short interest on the DAX, CAC or FTSE, anyone know if that's available?
The longs in this market -- I have thought that if they knew that the Earth would end in three days they would say "Great, go long, we have plenty of time."
USEU Summit underway at WH. Expect another multi-trillion dollar, semi-secret bailout arrangement from Uncle Sugar. All politicians involved should be wealthier soon
Lol...Dick Bove on CNBC
he admitted he was wrong on banks. not because of him but because we are to fuckin stupid to see how strong the banks are ....he didnt plan on that part......
How about a fade Dick Bove model fund? He might just be as reliable an indicator as Whitney Tilson.
Quod licet Iovi, non licet Bove.
Gov't intervention has cost me more this year than ever. (That would be a lot of years:) When you get the timing right though, those moments of truth are tremendous. Bid me, bid me , bid me ;)
Quiet please im trying to reload the shorts. Because there weren't any. Up until now.
"stock shorts would pile in once again, only to be burned by moves like today's"
Oh shit, my pants are on fire.
nice to see the euro breaking down....lol first minor support 1.3310 next then 1.3290 then new lows
Watch this turd (no offense TF) close down 200.
I am all with ya' folks but I cant see the FEDsters or the ECB waste this "crisis" they will print, and that HEAVY!!!
Should I be wrong, got me some shorts @ 1190, shoud I be right, got me some longs @ 1155, either way...you know...!
Why print when markets can rally 3% to 4% any given day? I mean it doesn't make any sense to argue that and get the Merkels out there to buy into it!
The IMF bazooka bailout of Italy was a ruse. Now there's talk that IMF is indeed preparing to deploy funds into Italy and Spain. But we all know that IMF funds come with strings attached. Austerity, budget cuts and that translates into DEFLATION and zero growth even with major haircuts.
Well, one way to play it would be short EWI and EWP and the Spanish banks (BBVA, STD). But in this market, all bets are off. Problem is I've made my bets...
not a lot of shorts around. so.... time to short????