Chart of Day: Short Ban 'Mother of All Squeezes'
click for ginormous chart
Bloomberg:
The CHART OF THE DAY shows the jump in short interest this year in the six worst-performing financial shares in the S&P 500 -- American International Group Inc., Washington Mutual Inc., National City Corp., Genworth Financial Inc., XL Capital Ltd. and Wachovia Corp. -- along with the percentage of each company's shares available for trading that were sold short at the end of August. Short interest is set at 100 on Dec. 31.
WaMu, the Seattle-based savings and loan that's seeking a buyer, had 26 percent of its float sold short, the highest among the six, exchange data compiled by Bloomberg show. Cleveland- based National City's short interest increased the most, rising 451 percent to 166.1 million shares, or 22 percent of the float.
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Source:
SEC Spurs `Mother of All Squeezes' With Short Ban: Chart of Day
Michael Patterson and Alexis Xydias
Bloomberg, Sept. 19 2008
http://www.bloomberg.com/apps/news?pid=20601109&sid=auIOzkxys10U&
Monday, September 22, 2008 | 11:30 AM | Permalink
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Does anyone see a nasty short squeeze also developing in gold, oil and other commodities? Bailoutville is in full swing.
Posted by: Mike | Sep 22, 2008 11:37:14 AM
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