Wall Street Manna

An irreverent look at Wall Street

Thursday, December 6, 2007

Latest Short Interest on the Financials

Here's the short interest as of November 30. Look at the increase in just the last two weeks! Do you think the Investment banks and brokers were being bearish for a reason?

Nah. They wouldn't get hysterically bearish to match their trading positions would they?

  • Citigroup's short interest went up 56% to 85 million shares from 55 MM.
  • Fannie Mae's went up 110% to 50 MM from 26MM.
  • Countrywide now has 131 MM shares short.
  • Washington Mutual now has 91MM up from 74 MM shares.
Just when they should of been covering, they pressed their bets to the downside!

How funny is that?

2 Comments:

At December 9, 2007 at 12:34 AM , Anonymous Anonymous said...

THE FED HAS MADE TWO SINGLE CUTS IN THE PAST, AND IT DIDN'T DO MUCH TO HELP THE CREDIT CRISIS...WITH THAT IN MIND, REGARDLESS OF WHERE THE ECONOMY STANDS, THE FED IS OPT TO MAKE A MORE AGGRESSIVE CUT, SAY 50 BASIS POINTS, TO ENSURE LIQUIDITY IN THE MARKETS. THE JOBS DATA DOESN'T MATTER, OIL PRICES- WHO CARES, ITS THE CREDIT CRUNCH THAT IS THE FOCUS NOW.

FINANCIALS ARE THE FIRST LINE OF DEFENSE AND ALSO THE MAIN SUPPORT TO A GOOD ECONOMY. FED KNOWS THAT AND HE WILL DO EVERYTHING TO ENSURE FINANCIALS CONTINUE TO GROW. BARE IN MIND, THE FED MUST DO THIS AS HE FACES A LOT OF PRESSURE FROM THE CREDIT CRUNCH AND FROM THE GOVERNMENT. THE GOVERNMENT IS NOW BEING VERY INVOLVED AND HAS EVEN GONE AS FAR AS FREEZING RATES... WHAT DOES THAT TELL YOU. IF BENNY WANTS TO KEEP HIS JOB, HE BETTER DO IT RIGHT.

 
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