Short sellers covered before earnings in top digital names (MSFT, GOOG, YHOO, ORCL)
As you will see below, the major components of the NASDAQ top digital companies saw real short covering ahead of earnings. Keeping conviction against stocks is frequent, but the lessons of eternal pessimism have historically shown to not be a winning strategy.
Microsoft Corp. (NASDAQ: MSFT)
Short Interest Change Avg, Day Vol. Days to Cover
04/15/2008 109,056,265 (7.88%) 48,450,376 2.25
03/31/2008 118,383,897 (3.82%) 57,762,166 2.05
Google Inc. (NASDAQ: GOOG)
Short Interest Change Avg, Day Vol. Days to Cover
04/15/2008 4,905,775 (5.84%) 5,368,787 1.00
03/31/2008 5,210,156 7.07% 6,382,427 1.00
Yahoo! Inc. (NASDAQ: YHOO)
Short Interest Change Avg, Day Vol. Days to Cover
04/15/2008 36,104,797 (12.54%) 22,789,737 1.58
03/31/2008 41,280,401 (17.13%) 25,874,919 1.60
Oracle Corp. (NASDAQ: ORCL)
Short Interest Change Avg, Day Vol. Days to Cover
04/15/2008 42,655,256 2.94% 34,868,017 1.22
03/31/2008 41,436,043 6.57% 51,966,613 1.00
As Oracle's earnings are still a ways out, the need for traders to cover there probably wasn't as critical as it was otherwise.
Jon Ogg is an editor and producer of the "10 Stocks Under $10" weekly newsletter for 247WallSt.com.
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Reader Comments (Page 1 of 1)
5-11-2008 @ 7:41PM
kenn said...
Looks like the same four names every time to me.
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