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Updated short interest


Maximum pain is my game


Last month, I noted that every time in the last 18 months we'd seen the pattern displayed in June, we saw a nice gain in the NASDAQ composite. Proof positive historical patterns should only inform your trading stance and not mandate your trades.

In the period between mid-June and mid-July, we saw the indices drop and short interest drop. As Professor Reynolds has been noting, this has been a tough market for bulls and bears alike.

I suspect we'll see short interest climb for the August data, but much will depend on whether the NASDAQ and NYSE composite indices can pick themselves up by the bootstraps and rally. If Boo's boys get disappointed this time with the near perfect storm of rising rates, decreasing liquidity, high energy prices, and political uncertainties then perhaps they'll toss in the towel.

Like I said last month, I wouldn't bet the farm on it.

No positions in stocks mentioned.

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