Looking forward to the short interest update....
posted on
Oct 18, 2019 10:50PM
I was hoping it would be out today after the close, but nothing yet. I'm thinking it will be out Monday before the opening and if not then definitely after the close.
The update will be the short position for trades settled up to October 15th, so this will be the first glimpse we have of what happened with the total number of shorted shares after the Sept 30th news of TLD failure.
For trades settled up to September 30th, (meaning activity up to the 28th allowing two days for shares to be delivered) the number was 701,566 which was an increase of 190,758 over the number shorted up to September 15th.
If the number has gone down significantly I will see it as evidence that short sellers were covering....which isn't a great indication in my opinion. Short covering isn't bullish buying...its simply cashing in on being right about failure. On the other hand if the number jumps, that for me will be very intriguing and I'll be thinking that perhaps shorts threw good money after bad and that there's potential for a big jump on any positive news.
Of course it could just say around the same....which to me would stink. I like clear cut, not wishy washy.