NYSE Short Interest Down 28% From Peak In July ‘08
February 11, 2009 at 11:25 am · Category: Sentiment Analysis
Being short right now just feels like the wrong strategy.
- Bill Fleckenstein, who shut his short only hedge fund in December
I would be very cautious about being short this market right now.
- Dan Veru, Chief Investment Officer, Palisade Capital Management
Tremendous chart accompanying a Bloomberg article from Monday.
As you can see, short interest on the NYSE has come way down (-28%) from its peak in July 2008. That means many short sellers have covered their shorts and taken profits. This is another piece of evidence that most of the bad news is now priced in.
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