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Investing

Nasdaq Short Position For October, Sun (JAVA) Shows Huge Improvement

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By Douglas A. McIntyre Published
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Below are the short positions for major companies traded on the Nasdaq as of October 15. The figures compare to numbers on September 28, 2007

Traders bet big on Sun’s turnaround, dropping their short positions by over 24 million shares to 40 million. They also bet that the Oracle takeover of BEA Systems would not happen increasing shares short in BEAS by 4 million.

Shorts were right to move into Level 3 in large numbers. Its earnings were a disaster. But, they moved out of Microsoft, perhaps a sign that Wall St. is starting to believe that the company’s internet and game strategies may pay-off.

Largest Short Positions

Company                                                 Shares Sold Short

Level 3 (LVLT)                                          139 million

Charter (CHTR)                                          94 million

Sirius (SIRI)                                               85.1 million

Microsoft (MSFT)                                       75.4 million

Intel (INTC)                                                74.6 million

Yahoo! (YHOO)                                          58.1 million

Comcast (CMCSA)                                    45.6 million

Sun (JAVA)                                               40.3 million

Oracle (ORCL)                                          38.7 million

Symantec (SYMC)                                    35.7 million

Amazon (AMZN)                                       35.3 million

Largest Increase In Shares Sold Short

Company                                                 Increase In Shares Short

Level 3                                                     10 million share increase

Yahoo!                                                      6.3 million

BEA Systems (BEAS)                               4 million

E*Trade                                                    3.6 million

Charter                                                     3 million

Largest Decrease In Short Position

Company                                                 Decrease In Short Position

Sun                                                         24.6 million decrease

Nvidia (NVDA)                                           6.8 million

Microsoft                                                  5.5 million

Comcast                                                  4.9 million

Sandisk (SNDK)                                       4.6 million

Dell (DELL)                                              4.2 million

Oracle                                                     2.9 million

Data from Nasdaq and WSJ

Douglas A. McIntre

Photo of Douglas A. McIntyre
About the Author Douglas A. McIntyre →

Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.

McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.

His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.

A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.

TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.

McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.

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