Heavily Shorted Lead the Declines

Yesterday, the shorts covered.  Today, the shorts piled back in.  The average stock in the Russell 1,000 was down 2.26% today.  As shown below, the two deciles (100 stocks in each decile) of stocks with the highest short interest were down the most, while the deciles with the least short interest were down the least.  Any thoughts that yesterday's move higher was some kind of turnaround day were quickly shot down today.

Comments

[Edward Janeck:]

Jim Rogers think Fannie is going to zero.

2008 Jul 10 12:16 PM

[Jason Tillberg:]

I'm one of those shorts who covered yesterday.

2008 Jul 10 03:21 PM