We routinely look over major changes in short interest from period to period. While the more frequent twice-monthly reporting is conducted by exchanges, it sometimes gives a little insight into the psyche of traders and trends. The most important issue to look at is in the larger and more active names that have large positions that grew rapidly in percentage terms.
We screened many different names after the short interest data came out last night from NASDAQ, so we looked for a minimum of 5 million shares short and we looked for those names whose short interest grew by more than 30%. These are not all of the names, but here is a representation of the screen:
Comapny (Ticker) MARCH 14 FEB 29 CHANGE
Cisco Systems, Inc. (CSCO) 73,069,889 48,631,811 50.25%
Logitech International (LOGI) 8,017,620 5,464,404 46.72%
Micrel, Incorporated (MCRL) 7,719,618 5,242,192 47.26%
PAREXEL International (PRXL) 6,204,152 3,137,862 97.72%
Patterson-UTI Energy (PTEN) 14,068,305 9,336,158 50.69%
Staples, Inc. (SPLS) 20,708,717 15,097,693 37.16%
Sun Microsystems (JAVA) 23,630,955 17,562,322 34.55%
T. Rowe Price Group (TROW) 15,997,024 11,341,287 41.05%
YRC Worldwide, Inc. (YRCW) 22,782,135 16,007,172 42.32%
Jon C. Ogg
March 27, 2008
Jon Ogg produces the Special Situation Investing Newsletter and can be reached at email@example.com; he does not own securities in the companies he covers.