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For the period ending October 15, short sellers got out of most banks and brokerage stocks. That is a shame for them. They could have made a killing this week.
The short interest in Citigroup (C) fell over 5% to 116.8 million shares. Probably due to its purchase by Wells Fargo (WFC) shares sold short in Wachovia (WB) dropped by 54% to 91 million. Short interest in Bank of America (BAC) dropped 14% to 94.1 million. Short interest in MBIA (MBI) fell 21% to 62 million.
The government bailout did not do much for AIG (AIG) is was the only big financial to see a sharp increase in shares sold short, up up 11% to 93.7 million.
