Good question, however, I'm not sure I have a
real good answer for you. Here's what I would suggest.
#1, you are wise to put it in terms of a number of
days worth of average trading volume.
WSJ puts out a piece a couple times a month showing
short interest (1 piece covering NYSE & ASE, and the
other on NASDAQ). These stories list most if not all
stocks, their short interest, the number of average
trading days volume to 'cover' those shorts, and the
largest increases/decreases in short positions.
it's been awhile since I've seen the WSJ pieces on
short interest, I'm at a loss as to what would be
considered high. Personally, I would think that anything
much over 5 - 10 trading days to cover would be pretty
high, but I'm sure that they get much higher than
Hope this helps,
harry you damn near answered a question that i've
been trying to find a answer too for several weeks
WHAT IS A LARGE SHORT RATIO ? 2 DAYS VOLUME ? 5 DAYS
WHAT COULD BE CONSIDERED NORMAL ? my
question applies not only to the banking industry but as a
general rule of thumb
thanx for your help
You're right, the period of topping I referred to
actually involved a range of $43 - $48 3/8 over a period
of ~1 month. That's roughly where our support is,
and considering we bottomed intraday @ $46 15/16 on
Friday, I would say that we have at least begun our
visitation of that support. If it is to hold, we're likely
to 'test' it again. I suspect that 'test' would at
least involve a return to below $48.
Sebanks, I see you check out the profile's to,
have you notice the Book has gone from 20.14 to 21.61
in the last 3 weeks. Also, as you said about the
shorts, down from 1.7 mil(5%). Why haven't they updated
the dividend info?
Harry, looked at the chart
and see what you are referring to, but looks like the
support level is 44 - 46, I could be wrong, I can't make
out where the dam lines stop at most of the time. You
explained it much better then I did, thanks.
Ken: Support for stock price. From a technician's
standpoint, prior peaks (areas of resistance) often predict
future areas of support. In March 1997, UPC peaked
around $46-48. Therefore, we are there. If we were to
break below this support, we'd probably see
Sebanks: Yes, short interest declining is a good thing!
Thanks for pointing that out, and by the way I'd love to
know what source you are using for that info.
FYI, short interest has nothing to do with options.
With stocks, we buy low and sell high (hopefully).
Short sellers just try to it in reverse order, and
'short interest' is a published figure of the total
number of shares in a particular stock that have been
sold short (ie. without already owning it), and not
Hope so Underground. You know, it's hard to find
a good support level for this stock if you look at
the charts since UPC has been pretty much climbing
since 96. The only prolong level I could find is 60 for
a few months, and since we are way below that there
is no telling, in my opinion, how low this stock
could drop. Something has to happen pretty quick, this
puppy is starting to hurt. Regards, Ken
Based on UPC closing price, a bank investment
portfolio manager could put UPC stock in their holdings and
get a 5.68% yield after the dividends received
deduction - 20 basis points higher than the 30 year
treasury!! This is common practice at many large bank
holding companies that want a leg up in a bidding war or
just want to make some easy money in case of a sale. I
think that when portfolio managers see this, they will