Nasdaq Short Position For October, Sun (JAVA) Shows Huge Improvement
October 25, 2007 by Douglas A. McIntyreBelow 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
Take This Retirement Quiz To Get Matched With An Advisor Now (Sponsored)
Are you ready for retirement? Planning for retirement can be overwhelming, that’s why it could be a good idea to speak to a fiduciary financial advisor about your goals today.
Start by taking this retirement quiz right here from SmartAsset that will match you with up to 3 financial advisors that serve your area and beyond in 5 minutes. Smart Asset is now matching over 50,000 people a month.
Click here now to get started.