WaMu, E-Trade, MBIA among others are on the massive short list

July 18, 2008 by · Leave a Comment
Filed under: Industry News 

Today reading on a market research website, it looks like Zions Bancorporation and Washington Mutual are the most heavily shorted banks stocks in the SPDR-financial (XLF). At the time of this writing, WaMu alone had a 26% short position float according to the chart on the website.

Short Position Chart:

It will be interesting to see what happens next week when WaMu announces their earnings statement for last quarter. Here is some of the commentary on the research website.

“As noted last night, financial stocks are on fire. There are a number of things going on but one of the elements has to do with chatter about rule changes regarding short interest. An article in today’s Wall Street JournalStreet Gears Up for Short Changes – [subscription required] touched on this.

For those considering trading the financial names, I thought it might be interesting to pull some short interest data. I took the component stocks for SPDR-Financial (XLF) and pulled short interest data collected by our Quantified Analysis group. The list below is sort by those with the largest percent of the float that is sold short. I also included yesterday’s percent return and the percent return as of around 1 PM today.”

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