Editor's Note: In Toddo's honor, this post comes from Ag and Energy specialist Ryan Krueger. Please see more at www.minyanville.com.In the first six months of 2008, the United States Oil Fund (AMEX: USO) has seen short interest rise 140%, or two times the total float. For its part, the Powershares DB Commodity Index (AMEX: DBC) has watched its short interest climb more than 500% this year. According to Morgan Stanley (NYSE: MS), the average short interest among exchange-traded funds (ETF) in the U.S. is 10%.
I'll alert Minyanville.com readers when Congressional hearings are scheduled to address this other form of speculation, which includes windfall losses.
As for the market, it would seem the largest institutions are equally hopeful -- for the sake of their relative performance -- that this simply can't be: According to some reports I've seen, they're roughly 500 basis points underweight energy.
I'd imagine both will continue to be long shaking heads.
Positions in Energy, Futures and Equities.
Is a second stimulus check up ahead?
Coke (KO) moving up nicely following Q3 earnings
Will Lehman bankruptcy drop a $400 billion shoe on October 21st?
