We reviewed various short selling trends and noticed that most sectors were mixed to up as the April to May reached record levels. But reviewing the 28 Dow Jones Industrial Average components that trade on the NYSE showed an unbelievable number. 24 out of 28 saw an increase in short selling. You’ll see that the four that had less short selling in no way come close to helping out the rest. As the DJIA continued marching on up and up to new highs day after day, that translates to pain all around for the shorts. Here is the DJIA summary with the gains in short interest to May over April:
STOCK Ticker MAY APRIL CHANGE
Alcoa AA 16.8M 15.3M 9.30%
AIG AIG 26.2M 16.9M 54.80%
Amer. Express AXP 21.6M 15.4M 40.30%
Boeing BA 8.5M 6.0M 41.0%
Citigroup C 29.4M 32.4M -9.10%
Caterpillar CAT 11.7M 10.4M 11.76%
DuPont DD 18.1M 14.6M 23.90%
Disney DIS 47.7M 45.6M 2.40%
General Elec. GE 53.5M 47.3M 12.90%
General Motors GM 52.2M 49.6M 10.20%
Home Depot HD 45.6M 37.5M 21.70%
Honeywell HON 13.9M 6.2M 122%
Hewlett-Packard HPQ 27.3M 27.2M 0.17%
IBM IBM 16.6M 19.2M -13.30%
J & J JNJ 16.1M 14.4M 11.70%
JPMorgan Chase JPM 28.2M 27.4M 2.70%
Coca-Cola KO 27.8M 17.6M 58%
McDonalds MCD 24.8M 16.3M 52%
3M MMM 9.5M 5.4M 76%
Altria MO 53.2M 23.8M 122.80%
Merck MRK 22.5M 18.6M 20.60%
Pfizer PFE 52.1M 50.2M 3.60%
P & G PG 14.2M 18.2M -22%
AT&T T 39.6M 37.9M 4.40%
United Tech UTX 9.0M 5.7M 58%
Verizon VZ 43.3M 33.5M 29.40%
Wal-Mart WMT 38.1M 33.8M 12.50%
Exxon Mobil XOM 46.6M 49.7M -6.40%
Jon C. Ogg
May 22, 2007
Jon Ogg can be reached at [email protected]; he does not own securities in the companies he covers.
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