Schaeffer's Trading Floor Blog
Stocks quoted in this article:

As usual, this table lists stocks that have at least 10 percent of their float sold short and then shows the top ten based on the previous day's gain. The last field shows how the stock is performing in today's session. This can be a useful tool for finding situations where stocks with heavy short interest have begun to move. All returns are shown in percentages.

Note - more information on short interest can be found by clicking here.

Company Yesterday's
Gain
Percent of Float
Sold Short
Yesterday's
Close
Today's
Return
Visteon Corporation (VC) 32.5 10.5 5.06 17.98
Delta Petroleum Corporation (DPTR) 15.4 16.4 10.67 -3.37
Novatel Wireless, Inc. (NVTL) 12.9 23.7 11.08 -2.98
NitroMed, Inc. (NTMD) 11.0 21.7 18.59 3.61
KFX Inc. (KFX) 7.2 34.7 12.22 0.08
Geron Corporation (GERN) 6.8 12.2 7.21 1.11
Longs Drug Stores Corporation (LDG) 6.6 10.9 40.50 -0.91
TASER International, Inc. (TASR) 6.3 31.7 11.20 1.70
Matria Healthcare, Inc. (MATR) 6.0 11.6 30.07 -1.67
Kulicke and Soffa Industries, Inc. (KLIC) 6.0 11.7 5.81 -1.37
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Must Read

by 5/20/2005 9:49 AM
Stocks quoted in this article:

Speaking of oil related stocks...make sure you check out Bernie's latest thoughts in this morning's commentary - The Battle for Black Gold...


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At the Open

by 5/20/2005 9:47 AM
Stocks quoted in this article:

Trading has begun for this expiration Friday so let's check in on the major indices to see where they stand...

As hinted to by the pre-open futures activity, there is a slight downward bias, though most losses are fairly muted. Gold stocks are the exception as they lose one percent after bouncing from Monday's lows. Oil related stocks are trying to buck the broad market malaise....

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Into the Open

by 5/20/2005 9:22 AM
Stocks quoted in this article:

We head toward the open with stock futures bouncing from their worst levels of the session but still pointing to a slightly lower open....Gold is down 2.20 while oil is up 26 cents...


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Stocks quoted in this article:

Stuart says - "Nick, do you think this is significant data, thanks : NYSE Short Interest: Hit Record Level On The NYSE: Short selling rises to new record level as of May 13 on NYSE; for the period ended May 13, short interest rose 1.5% to 8.568B shrs; the short ratio rose from 5.2 to 5.3 days. WSJ"

My response - This is a question that I have wrestled with before, but have failed to discuss in this space. Personally, I am hesitant to draw too many conclusions from this broad reading.

If you have read this link on short interest that I post each day in the "Today's List of Stocks Advancing Amid Heavy Short Interest post" you know that there are a number of factors that can influence short interest. From convertible bonds, to complex hedging, to merger-related arbitrage, I think there is a good deal of "noise" in the overall numbers. As such, I much prefer to evaluate short interest on a stock by stock basis.

However, this is clearly an issue that is open to debate as I know there are some who look at this number for guidance. This is just my take. With so much information available, each investor must find a way to focus on what they believe is the most important pieces of data...


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