Short Selling on NYSE Sets Record
By ANNELENA LOBB
June 20, 2008; Page C7
Short selling at the New York Stock Exchange set another record in the first
half of June.
Short positions not yet closed out -- or short interest -- jumped 7.4% to
17,654,028,383 shares in the semimonthly reporting period ended June 13 from
16,431,281,684 shares on May 30.
The short ratio, or number of days' average volume represented by short
positions outstanding, fell to 4.1 from 4.3 at the end of prior period.
Investors who "short" shares borrow and sell them, betting prices will fall so
they will replace the shares later at a lower price.
Accelerating inflation and weak growth put investors in a bearish frame of
mind. "There's no big concern of a market rally, short of interest rates being
lowered, which isn't going to happen," said Harry Strunk of Treflie Capital
Management.
The next NYSE short report will be published in the Journal on July 8. That
day's report won't include American Stock Exchange data, since the Amex will
start reporting on the same day as Nasdaq beginning with the July 11 paper. The
next Nasdaq report is June 25.
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