Shorts Attack The Banks Again, But Flee Bailout Targets And Retailers
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From 247wallst.com
No matter how far down bank stocks go and how hard regulators try to keep short sellers out of financial shares, some of the smart money is willing to gamble that the fortunes of the sector will get worse.
As of the end of November, short piled into Citigroup (NYSE: C) driving up shares short by 44% to 182.5 million. In Bank of America (NYSE: BAC) short interest rose 20% to 110 million shares. Short interest in Ambac (NYSE: ABK) moved up 26% to 60.8 million. Shares sold short in US Bancorp (NYSE: USB) and Colonial (NYSE: CNB) were both up over 20%. The short interest in Morgan Stanley (NYSE: MS) was also up almost 20%.
Read More at 247wallst.com >>>>
No matter how far down bank stocks go and how hard regulators try to keep short sellers out of financial shares, some of the smart money is willing to gamble that the fortunes of the sector will get worse.
As of the end of November, short piled into Citigroup (NYSE: C) driving up shares short by 44% to 182.5 million. In Bank of America (NYSE: BAC) short interest rose 20% to 110 million shares. Short interest in Ambac (NYSE: ABK) moved up 26% to 60.8 million. Shares sold short in US Bancorp (NYSE: USB) and Colonial (NYSE: CNB) were both up over 20%. The short interest in Morgan Stanley (NYSE: MS) was also up almost 20%.
Read More at 247wallst.com >>>>
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