Short Sellers Savage The Macro-Caps Across The Board

Investing

Published: May 25, 2011 6:33 am

Last Updated: May 25, 2011 6:48 am

No industry was able to avoid short selling activity, particularly among its largest companies. Tech, automotive, conglomerates, consumer goods, and financial shares were all under pressure, and big firms took the brunt of the activity. It may be that the market has started to acknowledge a slowdown could reach every sector.

Shares short in GM (NYSE: GM) jumped 26% to 41.5 million. The short interest in Alcoa (NYSE: AA) was higher by 14% to 69.3 million. Shares sold short in defense firm Northrop Grumman (NYSE: NOC) moved higher by 226% to 26.7 million for the period which ended May 15.

Shares short in GE (NYSE: GE) were up 75.6 million shares. Shares sold short in Bank of America (NYSE: BAC) rose 8% to 100 million. Shares short in Johnson & Johnson (NYSE: JNJ) rose 24% to 34.6 million. The short interest in Merck (NYSE: MRK) was up 26% to 26.5 million.

Share short in Intel (NASDAQ: INTC) rose 18% to 97 million. Cisco (NASDAQ: CSCO) short interest rose 8% to 52.2 million.

Source: NASDAQ and NYSE

Douglas A. McIntyre

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