Chart of Day: Short Ban ‘Mother of All Squeezes’

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mother squeeze

 

Bloomberg:

The CHART OF THE DAY shows the jump in short interest this
year in the six worst-performing financial shares in the S&P 500
— American International Group Inc., Washington Mutual Inc.,
National City Corp., Genworth Financial Inc., XL Capital Ltd. and
Wachovia Corp. — along with the percentage of each company’s
shares available for trading that were sold short at the end of
August. Short interest is set at 100 on Dec. 31.

WaMu, the Seattle-based savings and loan that’s seeking a
buyer, had 26 percent of its float sold short, the highest among
the six, exchange data compiled by Bloomberg show. Cleveland-
based National City’s short interest increased the most, rising
451 percent to 166.1 million shares, or 22 percent of the float.

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Source:
SEC Spurs `Mother of All Squeezes’ With Short Ban: Chart of Day
Michael Patterson and Alexis Xydias
Bloomberg, Sept. 19 2008
http://www.bloomberg.com/apps/news?pid=20601109&sid=auIOzkxys10U&

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