Where are all those short sellers today? Up 82% to 1.07 million! Be careful - don't want to get burned.
Dick's Sporting Goods
Dick's Sporting Goods ( NYSE:DKS) operates nearly 140 locations in 25 states, centered mostly in the eastern U.S. The company said this morning that second-quarter earnings totaled 62 cents per share, two pennies above analysts' expectations. Same-store sales at the retailer rose 1.5 percent. Disappointing, however, was the company's announcement that full-fiscal-year earnings were likely to reach $1.95, three cents shy of Wall Street's current estimate. As a result of this news, the stock has gapped below its 10-day and 20-day moving averages on heavy volume today. This pullback comes just three days after the equity reached a new all-time high during Monday's session. DKS is not yet an optionable equity, but it has recently captured the attention of short-sellers. The number of shorted DKS shares increased by 82 percent over the last reporting period to 1.07 million, for a short-interest ratio of more than two times.