Not all financial shares are created equal, at least no according to short bets made on NYSE companies for the period ending. April 30 compared to numbers on April 15.

Short interest in Washington Mutual (WM) dropped 11 million shares to 184.3 million. Short interest in Citicorrp (C) fell 10.4 million to 109.4 million. Short interest in Countrywide (CFC) fell 22.5 million to 76.4 million. In the case of these companies, each has either raised money or is being bought out.

Short interest in several financial firms took a big jump. Wachovia (WB) was up 14.8 million to 117.4 million. Short interest in National City (NCC) rose 40.4 million to 100.3 million. Short interest in Fannie Mae (FNM) rose 12.8 million shares to 85.4 million.Share short in Wells Fargo (WFC) rose 12.3 million to 122.5 million. Shares sold short in Ambac (ABK) moved up 16.8 million to 48.1 million.

Other large increases in shares sold short  included Ford (F) where short interest rose 11.3 million to 293.1 million. Sprint (S) increased 16.6 million to 92.3 million.

Short interest in some large companies dropeed sharply. Shares short in in AT&T (T) fell 15.3 million to 38 milion and shares sold short iin Citicut City (CC) fell 8.5 million to 27.4 million.

Data from NYSE

Douglas A. McIntyre