How will I know?
(Don't trust your feelings)
How will I know?
--Whitney Houston
After peaking last fall at multi-year highs, NYSE short interest has collapsed to multi-year lows. The only time it has been this low over the past coupla yrs was, yep, the deja vu period last spring.
You can see from the chart that low short interest is not a good predictor of near term trend reversals. But it is a data point in support that this rally is in its late stage and that there's a fade trade on the horizon.
position in SPX
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1 comment:
Its just money; its made up. Pieces of paper with pictures on it so we don't have to kill each other just to get something to eat.
~John Tuld, Margin Call
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