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TW Patron++
Posts: 1,054
Reply with quote  #1 
Over the past two days, the shorting percentage of NYSE stocks has been the highest posted over the nine months of this data I have.

The blue curve is a 5 day MA of the shorts as a percentage of the total NYSE SDOT sells.

Among other indications, think this had anything to do with today's action?  The above chart data is through Wednesday, 7-11-07.




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Posts: 129
Reply with quote  #2 

Originally Posted by jerkstore
Very nice chart Randy!

The hedge fund crowd and the message board types were apparently tripping over one another in their mad rush to short this market as they have been for some time now. Looks like the process just accelerated a bit in the last few days.

This situation was just a powederkeg waiting for someone to light the fuse. This was the main reason I didn't want to get too cute waiting for that final short-term dip. The bears were so confident and cocksure in spite of all the price action to the contrary. At some point that Negativity Bubble is gonna get popped and a short squeeze for the ages will be on. Question is was that a pin prick I heard today???

And if you look at this week's COT the large specs continued their shorting frenzy.   The data in all classes of traders in the mini S&P and mini Russell 2000 was a bull's delight.  Then again, the data does not include Thursday's fireworks.
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