The short interest ratio on the NYSE hit 13.1 billion shares at the end of April, an increase of 3.9% from the previous month and the highest level of the year.
What is interesting to note is that last year at the end of April the short interest ratio was at the high for 2011. And the stock market topped out around that time before a pullback began.
Could the short interest ratio be calling for another top? Or should we take the contrarian view?
I am in the contrarian camp today!!
Market expert and TV personality Matt McCall blogs about what is really moving the markets. He will emphasize Exchange-Traded Funds (ETFs) and individual stocks throughout the trading day.
No comments:
Post a Comment