Short-sellers were pulling back even before Reddit’s GameStop squeeze

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Short-sellers were pulling back even before Reddit’s GameStop squeeze

marketwatch2021-02-03

Short-sellers in GameStopGME,-60.00%and other targeted stocks have been beaten up recently, but short-selling may be helping to keep the bull market alive. Short-selling, according to academic ...

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AlanYe
·2021-02-04
Good read
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kenntan
·2021-02-03
Ggwp
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Basketrif
·2021-02-03
Dont play w retailers
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Ewald
·2021-02-03
Can hold?
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WadeW
·2021-02-03
Will it not be bubble?
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1
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KydenC
·2021-02-03
Hold the line!
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1
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GrowWealth
·2021-02-03
Just identify fundamentally strong stocks and go long on them... in the long term these are bound to go up.
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- 社区成长助手:
  终于等到了您的初发帖[比心][比心]发帖时关联相关股票或者相关话题，可以获得更多曝光哦～如果您想创作优质文章，请查看老虎社区创作指引
  2021-02-03
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DesmondPoh
·2021-02-03
It was never sustainable, I’m sure many trying to make fast money got burnt.
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1
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Hazydusk
·2021-02-03
It’s the end??
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1
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edwinsercl
·2021-02-03
This stock is too volatile for me
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Dont be weak
·2021-02-03
Dangerous stock now
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- 社区成长助手:
  终于等到了您的初发帖[比心][比心]发帖时关联相关股票或者相关话题，可以获得更多曝光哦～如果您想创作优质文章，请查看老虎社区创作指引
  2021-02-03
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NekoCatBin
·2021-02-03
Rip
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1
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- 社区成长助手:
  终于等到了您的初发帖[比心][比心]发帖时关联相关股票或者相关话题，可以获得更多曝光哦～如果您想创作优质文章，请查看老虎社区创作指引
  2021-02-03
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Jpeh
·2021-02-03
Interesting
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Jpeh
·2021-02-03
Interesting
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HLPA
·2021-02-03
Yes hold on
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1
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Liionel
·2021-02-03
Hold! And here for coins.
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LongZR
·2021-02-03
Hold hold
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Sap
·2021-02-03
Lol
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Kelvinyoon26
·2021-02-03
Like
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2
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JTE
·2021-02-03
Running
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- JTE:
  reply
  2021-02-04
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- leezx337:
  Can help me like thanksss
  2021-02-03
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}\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nShort-sellers were pulling back even before Reddit’s GameStop squeeze\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-02-03 10:46 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.marketwatch.com/story/short-sellers-were-pulling-back-even-before-reddits-gamestop-squeeze-11612233719?mod=home-page><strong>marketwatch</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Short-sellers in GameStopGME,-60.00%and other targeted stocks have been beaten up recently, but short-selling may be helping to keep the bull market alive.\nShort-selling, according to academic ...</p>\n\n<a href=\"https://www.marketwatch.com/story/short-sellers-were-pulling-back-even-before-reddits-gamestop-squeeze-11612233719?mod=home-page\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"GME","symbol_name":"游戏驿站","start_time":0,"source_url":"https://www.marketwatch.com/story/short-sellers-were-pulling-back-even-before-reddits-gamestop-squeeze-11612233719?mod=home-page","article_id":"1172237562","we_media_id":null,"thumbnails":["https://static.tigerbbs.com/9f274618dde80cee69492990094f7510"],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=1172237562","pubTimestamp":1612320389,"sourceInfo":{"source_id":"lsy1603348471595","name":"MarketWatch"},"weMediaInfo":null,"summary":"Short-sellers in GameStopGME,-60.00%and other targeted stocks have been beaten up recently, but shor","collect":0,"end_time":0,"defaultTopTitle":"marketwatch.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"GME":"游戏驿站"},"translate_title":"卖空者甚至在Reddit的GameStop紧缩之前就已经开始撤退了","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"GME":0.9},"content_text":"Short-sellers in GameStopGME,-60.00%and other targeted stocks have been beaten up recently, but short-selling may be helping to keep the bull market alive.\nShort-selling, according to academic research, has strong predictive power for the U.S. stock market’s subsequent 12-month return. 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This adjusted ratio, he adds, is even more bullish than the raw unadjusted ratio.\nNote also that the investment horizon for which this adjusted ratio has shown explanatory power is 12 months. So even if the current prediction is spot-on, it tells us nothing about the path the market takes along the way. It could be, for example, that the S&P 500SPX,+1.39%is higher in 12 months while suffering a steep decline along the way. That’s what happened over the past year.\nOne big caveat\nRinggenberg says that on rare occasions, short sellers are particularly bearish but nevertheless choose not to aggressively sell short. This occurs most typically when investor sentiment is exuberant, the market is volatile, and when certain stocks are trading without any discernible relationship to their underlying fundamentals. During such times, he said, the already-high risks that short sellers face grow to intolerable levels—and many of them retreat to the sidelines.\nI mentioned this phenomenon, referred to as the “limits to arbitrage,” in acolumn last week about the GameStop saga. Perhaps the most prominent historical example of it came at the end of the internet bubble when a number of dot-com companies with no assets, revenue or business plan were propelled to sky-high valuations. The short interest ratio actually declined from 1998 through 2000 despite ever-rising valuations.\nThere are some who currently believe we’re in a bubble similar to the late 1990s. If they’re right, then we should not make too much of short sellers’ lack of aggressiveness. Absent that possibility, the message of the short-sale ratio is bullish for the next 12 months.","kind":null,"is_publish_news":true,"is_publish_highlight":true,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[{"id":317081168,"gmtCreate":1612397875954,"gmtModify":1704870607356,"author":{"id":"3563407973348151","authorId":"3563407973348151","authorIdStr":"3563407973348151","name":"AlanYe","avatar":"https://static.tigerbbs.com/50efd00e3a7df7e0920a04606904a662","vip":1,"hat":"https://static.tigerbbs.com/306aa047bc14b6942cda1aed925cf8c3","crmLevel":7,"crmLevelSwitch":1,"idStr":"3563407973348151"},"htmlText":"Good read","listText":"Good read","text":"Good read","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/317081168","repostId":1172237562,"repostType":4,"repost":{"id":"1172237562","pubTimestamp":1612320389,"share":"https://ttm.financial/m/news/1172237562?lang=&edition=fundamental","pubTime":"2021-02-03 10:46","market":"us","language":"en","title":"Short-sellers were pulling back even before Reddit’s GameStop squeeze","url":"https://stock-news.laohu8.com/highlight/detail?id=1172237562","media":"marketwatch","summary":"Short-sellers in GameStopGME,-60.00%and other targeted stocks have been beaten up recently, but shor","content":"<p>Short-sellers in GameStopGME,-60.00%and other targeted stocks have been beaten up recently, but short-selling may be helping to keep the bull market alive.</p>\n<p>Short-selling, according to academic research, has strong predictive power for the U.S. stock market’s subsequent 12-month return. Right now, short interest is unusually low, says Matthew Ringgenberg, a finance professor at the University of Utah.</p>\n<p>Ringgenberg is a leading expert on the behavior of short sellers. In an interview, he observed: “Even before the recent short squeezes, short interest in December and January was approaching historically low levels. In fact, with the exception of December 2018, this is the lowest short interest has been since before the 2008 crisis.” The data to which he is referring are plotted in the chart below.</p>\n<p>Be wary of contrarian investors who interpret low short interest as bearish. Ringgenberg says the contrarians are wrong; his research has found that the short sellers on balance are more right than not.</p>\n<p>Note carefully that the chart focuses on the raw short interest ratio. As I have reported in prior columns about Ringgenberg’s research, he has found that the predictive power of the ratio can be improved by calculating where it stands relative to its underlying trend. This adjusted ratio, he adds, is even more bullish than the raw unadjusted ratio.</p>\n<p>Note also that the investment horizon for which this adjusted ratio has shown explanatory power is 12 months. So even if the current prediction is spot-on, it tells us nothing about the path the market takes along the way. It could be, for example, that the S&amp;P 500SPX,+1.39%is higher in 12 months while suffering a steep decline along the way. That’s what happened over the past year.</p>\n<p><b>One big caveat</b></p>\n<p>Ringgenberg says that on rare occasions, short sellers are particularly bearish but nevertheless choose not to aggressively sell short. This occurs most typically when investor sentiment is exuberant, the market is volatile, and when certain stocks are trading without any discernible relationship to their underlying fundamentals. During such times, he said, the already-high risks that short sellers face grow to intolerable levels—and many of them retreat to the sidelines.</p>\n<p>I mentioned this phenomenon, referred to as the “limits to arbitrage,” in acolumn last week about the GameStop saga. Perhaps the most prominent historical example of it came at the end of the internet bubble when a number of dot-com companies with no assets, revenue or business plan were propelled to sky-high valuations. The short interest ratio actually declined from 1998 through 2000 despite ever-rising valuations.</p>\n<p>There are some who currently believe we’re in a bubble similar to the late 1990s. If they’re right, then we should not make too much of short sellers’ lack of aggressiveness. Absent that possibility, the message of the short-sale ratio is bullish for the next 12 months.</p>","source":"lsy1603348471595","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Short-sellers were pulling back even before Reddit’s GameStop squeeze</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nShort-sellers were pulling back even before Reddit’s GameStop squeeze\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-02-03 10:46 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.marketwatch.com/story/short-sellers-were-pulling-back-even-before-reddits-gamestop-squeeze-11612233719?mod=home-page><strong>marketwatch</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Short-sellers in GameStopGME,-60.00%and other targeted stocks have been beaten up recently, but short-selling may be helping to keep the bull market alive.\nShort-selling, according to academic ...</p>\n\n<a href=\"https://www.marketwatch.com/story/short-sellers-were-pulling-back-even-before-reddits-gamestop-squeeze-11612233719?mod=home-page\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/9f274618dde80cee69492990094f7510","relate_stocks":{"GME":"游戏驿站"},"source_url":"https://www.marketwatch.com/story/short-sellers-were-pulling-back-even-before-reddits-gamestop-squeeze-11612233719?mod=home-page","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1172237562","content_text":"Short-sellers in GameStopGME,-60.00%and other targeted stocks have been beaten up recently, but short-selling may be helping to keep the bull market alive.\nShort-selling, according to academic research, has strong predictive power for the U.S. stock market’s subsequent 12-month return. Right now, short interest is unusually low, says Matthew Ringgenberg, a finance professor at the University of Utah.\nRinggenberg is a leading expert on the behavior of short sellers. In an interview, he observed: “Even before the recent short squeezes, short interest in December and January was approaching historically low levels. In fact, with the exception of December 2018, this is the lowest short interest has been since before the 2008 crisis.” The data to which he is referring are plotted in the chart below.\nBe wary of contrarian investors who interpret low short interest as bearish. Ringgenberg says the contrarians are wrong; his research has found that the short sellers on balance are more right than not.\nNote carefully that the chart focuses on the raw short interest ratio. As I have reported in prior columns about Ringgenberg’s research, he has found that the predictive power of the ratio can be improved by calculating where it stands relative to its underlying trend. This adjusted ratio, he adds, is even more bullish than the raw unadjusted ratio.\nNote also that the investment horizon for which this adjusted ratio has shown explanatory power is 12 months. So even if the current prediction is spot-on, it tells us nothing about the path the market takes along the way. It could be, for example, that the S&P 500SPX,+1.39%is higher in 12 months while suffering a steep decline along the way. That’s what happened over the past year.\nOne big caveat\nRinggenberg says that on rare occasions, short sellers are particularly bearish but nevertheless choose not to aggressively sell short. This occurs most typically when investor sentiment is exuberant, the market is volatile, and when certain stocks are trading without any discernible relationship to their underlying fundamentals. During such times, he said, the already-high risks that short sellers face grow to intolerable levels—and many of them retreat to the sidelines.\nI mentioned this phenomenon, referred to as the “limits to arbitrage,” in acolumn last week about the GameStop saga. Perhaps the most prominent historical example of it came at the end of the internet bubble when a number of dot-com companies with no assets, revenue or business plan were propelled to sky-high valuations. The short interest ratio actually declined from 1998 through 2000 despite ever-rising valuations.\nThere are some who currently believe we’re in a bubble similar to the late 1990s. If they’re right, then we should not make too much of short sellers’ lack of aggressiveness. Absent that possibility, the message of the short-sale ratio is bullish for the next 12 months.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":314853308,"gmtCreate":1612336069404,"gmtModify":1704869856773,"author":{"id":"3573534203095145","authorId":"3573534203095145","authorIdStr":"3573534203095145","name":"kenntan","avatar":"https://static.tigerbbs.com/390706ad7d648add89ec3fb5ea5931ef","vip":1,"crmLevel":2,"crmLevelSwitch":0,"idStr":"3573534203095145"},"htmlText":"Ggwp","listText":"Ggwp","text":"Ggwp","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/314853308","repostId":1172237562,"repostType":4,"repost":{"id":"1172237562","pubTimestamp":1612320389,"share":"https://ttm.financial/m/news/1172237562?lang=&edition=fundamental","pubTime":"2021-02-03 10:46","market":"us","language":"en","title":"Short-sellers were pulling back even before Reddit’s GameStop squeeze","url":"https://stock-news.laohu8.com/highlight/detail?id=1172237562","media":"marketwatch","summary":"Short-sellers in GameStopGME,-60.00%and other targeted stocks have been beaten up recently, but shor","content":"<p>Short-sellers in GameStopGME,-60.00%and other targeted stocks have been beaten up recently, but short-selling may be helping to keep the bull market alive.</p>\n<p>Short-selling, according to academic research, has strong predictive power for the U.S. stock market’s subsequent 12-month return. Right now, short interest is unusually low, says Matthew Ringgenberg, a finance professor at the University of Utah.</p>\n<p>Ringgenberg is a leading expert on the behavior of short sellers. In an interview, he observed: “Even before the recent short squeezes, short interest in December and January was approaching historically low levels. In fact, with the exception of December 2018, this is the lowest short interest has been since before the 2008 crisis.” The data to which he is referring are plotted in the chart below.</p>\n<p>Be wary of contrarian investors who interpret low short interest as bearish. Ringgenberg says the contrarians are wrong; his research has found that the short sellers on balance are more right than not.</p>\n<p>Note carefully that the chart focuses on the raw short interest ratio. As I have reported in prior columns about Ringgenberg’s research, he has found that the predictive power of the ratio can be improved by calculating where it stands relative to its underlying trend. This adjusted ratio, he adds, is even more bullish than the raw unadjusted ratio.</p>\n<p>Note also that the investment horizon for which this adjusted ratio has shown explanatory power is 12 months. So even if the current prediction is spot-on, it tells us nothing about the path the market takes along the way. It could be, for example, that the S&amp;P 500SPX,+1.39%is higher in 12 months while suffering a steep decline along the way. That’s what happened over the past year.</p>\n<p><b>One big caveat</b></p>\n<p>Ringgenberg says that on rare occasions, short sellers are particularly bearish but nevertheless choose not to aggressively sell short. This occurs most typically when investor sentiment is exuberant, the market is volatile, and when certain stocks are trading without any discernible relationship to their underlying fundamentals. During such times, he said, the already-high risks that short sellers face grow to intolerable levels—and many of them retreat to the sidelines.</p>\n<p>I mentioned this phenomenon, referred to as the “limits to arbitrage,” in acolumn last week about the GameStop saga. Perhaps the most prominent historical example of it came at the end of the internet bubble when a number of dot-com companies with no assets, revenue or business plan were propelled to sky-high valuations. The short interest ratio actually declined from 1998 through 2000 despite ever-rising valuations.</p>\n<p>There are some who currently believe we’re in a bubble similar to the late 1990s. If they’re right, then we should not make too much of short sellers’ lack of aggressiveness. Absent that possibility, the message of the short-sale ratio is bullish for the next 12 months.</p>","source":"lsy1603348471595","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Short-sellers were pulling back even before Reddit’s GameStop squeeze</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nShort-sellers were pulling back even before Reddit’s GameStop squeeze\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-02-03 10:46 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.marketwatch.com/story/short-sellers-were-pulling-back-even-before-reddits-gamestop-squeeze-11612233719?mod=home-page><strong>marketwatch</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Short-sellers in GameStopGME,-60.00%and other targeted stocks have been beaten up recently, but short-selling may be helping to keep the bull market alive.\nShort-selling, according to academic ...</p>\n\n<a href=\"https://www.marketwatch.com/story/short-sellers-were-pulling-back-even-before-reddits-gamestop-squeeze-11612233719?mod=home-page\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/9f274618dde80cee69492990094f7510","relate_stocks":{"GME":"游戏驿站"},"source_url":"https://www.marketwatch.com/story/short-sellers-were-pulling-back-even-before-reddits-gamestop-squeeze-11612233719?mod=home-page","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1172237562","content_text":"Short-sellers in GameStopGME,-60.00%and other targeted stocks have been beaten up recently, but short-selling may be helping to keep the bull market alive.\nShort-selling, according to academic research, has strong predictive power for the U.S. stock market’s subsequent 12-month return. Right now, short interest is unusually low, says Matthew Ringgenberg, a finance professor at the University of Utah.\nRinggenberg is a leading expert on the behavior of short sellers. In an interview, he observed: “Even before the recent short squeezes, short interest in December and January was approaching historically low levels. In fact, with the exception of December 2018, this is the lowest short interest has been since before the 2008 crisis.” The data to which he is referring are plotted in the chart below.\nBe wary of contrarian investors who interpret low short interest as bearish. Ringgenberg says the contrarians are wrong; his research has found that the short sellers on balance are more right than not.\nNote carefully that the chart focuses on the raw short interest ratio. As I have reported in prior columns about Ringgenberg’s research, he has found that the predictive power of the ratio can be improved by calculating where it stands relative to its underlying trend. This adjusted ratio, he adds, is even more bullish than the raw unadjusted ratio.\nNote also that the investment horizon for which this adjusted ratio has shown explanatory power is 12 months. So even if the current prediction is spot-on, it tells us nothing about the path the market takes along the way. It could be, for example, that the S&P 500SPX,+1.39%is higher in 12 months while suffering a steep decline along the way. That’s what happened over the past year.\nOne big caveat\nRinggenberg says that on rare occasions, short sellers are particularly bearish but nevertheless choose not to aggressively sell short. This occurs most typically when investor sentiment is exuberant, the market is volatile, and when certain stocks are trading without any discernible relationship to their underlying fundamentals. During such times, he said, the already-high risks that short sellers face grow to intolerable levels—and many of them retreat to the sidelines.\nI mentioned this phenomenon, referred to as the “limits to arbitrage,” in acolumn last week about the GameStop saga. Perhaps the most prominent historical example of it came at the end of the internet bubble when a number of dot-com companies with no assets, revenue or business plan were propelled to sky-high valuations. The short interest ratio actually declined from 1998 through 2000 despite ever-rising valuations.\nThere are some who currently believe we’re in a bubble similar to the late 1990s. If they’re right, then we should not make too much of short sellers’ lack of aggressiveness. Absent that possibility, the message of the short-sale ratio is bullish for the next 12 months.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":314827414,"gmtCreate":1612335685138,"gmtModify":1704869853220,"author":{"id":"3574715322913604","authorId":"3574715322913604","authorIdStr":"3574715322913604","name":"Basketrif","avatar":"https://static.tigerbbs.com/47bde0946b4de3845bcba22c002e0cfd","vip":1,"crmLevel":6,"crmLevelSwitch":1,"idStr":"3574715322913604"},"htmlText":"Dont play w retailers","listText":"Dont play w retailers","text":"Dont play w retailers","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/314827414","repostId":1172237562,"repostType":4,"repost":{"id":"1172237562","pubTimestamp":1612320389,"share":"https://ttm.financial/m/news/1172237562?lang=&edition=fundamental","pubTime":"2021-02-03 10:46","market":"us","language":"en","title":"Short-sellers were pulling back even before Reddit’s GameStop squeeze","url":"https://stock-news.laohu8.com/highlight/detail?id=1172237562","media":"marketwatch","summary":"Short-sellers in GameStopGME,-60.00%and other targeted stocks have been beaten up recently, but shor","content":"<p>Short-sellers in GameStopGME,-60.00%and other targeted stocks have been beaten up recently, but short-selling may be helping to keep the bull market alive.</p>\n<p>Short-selling, according to academic research, has strong predictive power for the U.S. stock market’s subsequent 12-month return. Right now, short interest is unusually low, says Matthew Ringgenberg, a finance professor at the University of Utah.</p>\n<p>Ringgenberg is a leading expert on the behavior of short sellers. In an interview, he observed: “Even before the recent short squeezes, short interest in December and January was approaching historically low levels. In fact, with the exception of December 2018, this is the lowest short interest has been since before the 2008 crisis.” The data to which he is referring are plotted in the chart below.</p>\n<p>Be wary of contrarian investors who interpret low short interest as bearish. Ringgenberg says the contrarians are wrong; his research has found that the short sellers on balance are more right than not.</p>\n<p>Note carefully that the chart focuses on the raw short interest ratio. As I have reported in prior columns about Ringgenberg’s research, he has found that the predictive power of the ratio can be improved by calculating where it stands relative to its underlying trend. This adjusted ratio, he adds, is even more bullish than the raw unadjusted ratio.</p>\n<p>Note also that the investment horizon for which this adjusted ratio has shown explanatory power is 12 months. So even if the current prediction is spot-on, it tells us nothing about the path the market takes along the way. It could be, for example, that the S&amp;P 500SPX,+1.39%is higher in 12 months while suffering a steep decline along the way. That’s what happened over the past year.</p>\n<p><b>One big caveat</b></p>\n<p>Ringgenberg says that on rare occasions, short sellers are particularly bearish but nevertheless choose not to aggressively sell short. This occurs most typically when investor sentiment is exuberant, the market is volatile, and when certain stocks are trading without any discernible relationship to their underlying fundamentals. During such times, he said, the already-high risks that short sellers face grow to intolerable levels—and many of them retreat to the sidelines.</p>\n<p>I mentioned this phenomenon, referred to as the “limits to arbitrage,” in acolumn last week about the GameStop saga. Perhaps the most prominent historical example of it came at the end of the internet bubble when a number of dot-com companies with no assets, revenue or business plan were propelled to sky-high valuations. The short interest ratio actually declined from 1998 through 2000 despite ever-rising valuations.</p>\n<p>There are some who currently believe we’re in a bubble similar to the late 1990s. If they’re right, then we should not make too much of short sellers’ lack of aggressiveness. Absent that possibility, the message of the short-sale ratio is bullish for the next 12 months.</p>","source":"lsy1603348471595","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Short-sellers were pulling back even before Reddit’s GameStop squeeze</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nShort-sellers were pulling back even before Reddit’s GameStop squeeze\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-02-03 10:46 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.marketwatch.com/story/short-sellers-were-pulling-back-even-before-reddits-gamestop-squeeze-11612233719?mod=home-page><strong>marketwatch</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Short-sellers in GameStopGME,-60.00%and other targeted stocks have been beaten up recently, but short-selling may be helping to keep the bull market alive.\nShort-selling, according to academic ...</p>\n\n<a href=\"https://www.marketwatch.com/story/short-sellers-were-pulling-back-even-before-reddits-gamestop-squeeze-11612233719?mod=home-page\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/9f274618dde80cee69492990094f7510","relate_stocks":{"GME":"游戏驿站"},"source_url":"https://www.marketwatch.com/story/short-sellers-were-pulling-back-even-before-reddits-gamestop-squeeze-11612233719?mod=home-page","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1172237562","content_text":"Short-sellers in GameStopGME,-60.00%and other targeted stocks have been beaten up recently, but short-selling may be helping to keep the bull market alive.\nShort-selling, according to academic research, has strong predictive power for the U.S. stock market’s subsequent 12-month return. Right now, short interest is unusually low, says Matthew Ringgenberg, a finance professor at the University of Utah.\nRinggenberg is a leading expert on the behavior of short sellers. In an interview, he observed: “Even before the recent short squeezes, short interest in December and January was approaching historically low levels. In fact, with the exception of December 2018, this is the lowest short interest has been since before the 2008 crisis.” The data to which he is referring are plotted in the chart below.\nBe wary of contrarian investors who interpret low short interest as bearish. Ringgenberg says the contrarians are wrong; his research has found that the short sellers on balance are more right than not.\nNote carefully that the chart focuses on the raw short interest ratio. As I have reported in prior columns about Ringgenberg’s research, he has found that the predictive power of the ratio can be improved by calculating where it stands relative to its underlying trend. This adjusted ratio, he adds, is even more bullish than the raw unadjusted ratio.\nNote also that the investment horizon for which this adjusted ratio has shown explanatory power is 12 months. So even if the current prediction is spot-on, it tells us nothing about the path the market takes along the way. It could be, for example, that the S&P 500SPX,+1.39%is higher in 12 months while suffering a steep decline along the way. That’s what happened over the past year.\nOne big caveat\nRinggenberg says that on rare occasions, short sellers are particularly bearish but nevertheless choose not to aggressively sell short. This occurs most typically when investor sentiment is exuberant, the market is volatile, and when certain stocks are trading without any discernible relationship to their underlying fundamentals. During such times, he said, the already-high risks that short sellers face grow to intolerable levels—and many of them retreat to the sidelines.\nI mentioned this phenomenon, referred to as the “limits to arbitrage,” in acolumn last week about the GameStop saga. Perhaps the most prominent historical example of it came at the end of the internet bubble when a number of dot-com companies with no assets, revenue or business plan were propelled to sky-high valuations. The short interest ratio actually declined from 1998 through 2000 despite ever-rising valuations.\nThere are some who currently believe we’re in a bubble similar to the late 1990s. If they’re right, then we should not make too much of short sellers’ lack of aggressiveness. Absent that possibility, the message of the short-sale ratio is bullish for the next 12 months.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":314827969,"gmtCreate":1612335596851,"gmtModify":1704869852574,"author":{"id":"3573788355724268","authorId":"3573788355724268","authorIdStr":"3573788355724268","name":"Ewald","avatar":"https://static.tigerbbs.com/60c8eb8db3c825e3fdeb89353eacb524","vip":1,"crmLevel":2,"crmLevelSwitch":0,"idStr":"3573788355724268"},"htmlText":"Can hold?&nbsp;","listText":"Can hold?&nbsp;","text":"Can hold?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/314827969","repostId":1172237562,"repostType":4,"repost":{"id":"1172237562","pubTimestamp":1612320389,"share":"https://ttm.financial/m/news/1172237562?lang=&edition=fundamental","pubTime":"2021-02-03 10:46","market":"us","language":"en","title":"Short-sellers were pulling back even before Reddit’s GameStop squeeze","url":"https://stock-news.laohu8.com/highlight/detail?id=1172237562","media":"marketwatch","summary":"Short-sellers in GameStopGME,-60.00%and other targeted stocks have been beaten up recently, but shor","content":"<p>Short-sellers in GameStopGME,-60.00%and other targeted stocks have been beaten up recently, but short-selling may be helping to keep the bull market alive.</p>\n<p>Short-selling, according to academic research, has strong predictive power for the U.S. stock market’s subsequent 12-month return. Right now, short interest is unusually low, says Matthew Ringgenberg, a finance professor at the University of Utah.</p>\n<p>Ringgenberg is a leading expert on the behavior of short sellers. In an interview, he observed: “Even before the recent short squeezes, short interest in December and January was approaching historically low levels. In fact, with the exception of December 2018, this is the lowest short interest has been since before the 2008 crisis.” The data to which he is referring are plotted in the chart below.</p>\n<p>Be wary of contrarian investors who interpret low short interest as bearish. Ringgenberg says the contrarians are wrong; his research has found that the short sellers on balance are more right than not.</p>\n<p>Note carefully that the chart focuses on the raw short interest ratio. As I have reported in prior columns about Ringgenberg’s research, he has found that the predictive power of the ratio can be improved by calculating where it stands relative to its underlying trend. This adjusted ratio, he adds, is even more bullish than the raw unadjusted ratio.</p>\n<p>Note also that the investment horizon for which this adjusted ratio has shown explanatory power is 12 months. So even if the current prediction is spot-on, it tells us nothing about the path the market takes along the way. It could be, for example, that the S&amp;P 500SPX,+1.39%is higher in 12 months while suffering a steep decline along the way. That’s what happened over the past year.</p>\n<p><b>One big caveat</b></p>\n<p>Ringgenberg says that on rare occasions, short sellers are particularly bearish but nevertheless choose not to aggressively sell short. This occurs most typically when investor sentiment is exuberant, the market is volatile, and when certain stocks are trading without any discernible relationship to their underlying fundamentals. During such times, he said, the already-high risks that short sellers face grow to intolerable levels—and many of them retreat to the sidelines.</p>\n<p>I mentioned this phenomenon, referred to as the “limits to arbitrage,” in acolumn last week about the GameStop saga. Perhaps the most prominent historical example of it came at the end of the internet bubble when a number of dot-com companies with no assets, revenue or business plan were propelled to sky-high valuations. The short interest ratio actually declined from 1998 through 2000 despite ever-rising valuations.</p>\n<p>There are some who currently believe we’re in a bubble similar to the late 1990s. If they’re right, then we should not make too much of short sellers’ lack of aggressiveness. Absent that possibility, the message of the short-sale ratio is bullish for the next 12 months.</p>","source":"lsy1603348471595","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Short-sellers were pulling back even before Reddit’s GameStop squeeze</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nShort-sellers were pulling back even before Reddit’s GameStop squeeze\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-02-03 10:46 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.marketwatch.com/story/short-sellers-were-pulling-back-even-before-reddits-gamestop-squeeze-11612233719?mod=home-page><strong>marketwatch</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Short-sellers in GameStopGME,-60.00%and other targeted stocks have been beaten up recently, but short-selling may be helping to keep the bull market alive.\nShort-selling, according to academic ...</p>\n\n<a href=\"https://www.marketwatch.com/story/short-sellers-were-pulling-back-even-before-reddits-gamestop-squeeze-11612233719?mod=home-page\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/9f274618dde80cee69492990094f7510","relate_stocks":{"GME":"游戏驿站"},"source_url":"https://www.marketwatch.com/story/short-sellers-were-pulling-back-even-before-reddits-gamestop-squeeze-11612233719?mod=home-page","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1172237562","content_text":"Short-sellers in GameStopGME,-60.00%and other targeted stocks have been beaten up recently, but short-selling may be helping to keep the bull market alive.\nShort-selling, according to academic research, has strong predictive power for the U.S. stock market’s subsequent 12-month return. Right now, short interest is unusually low, says Matthew Ringgenberg, a finance professor at the University of Utah.\nRinggenberg is a leading expert on the behavior of short sellers. In an interview, he observed: “Even before the recent short squeezes, short interest in December and January was approaching historically low levels. In fact, with the exception of December 2018, this is the lowest short interest has been since before the 2008 crisis.” The data to which he is referring are plotted in the chart below.\nBe wary of contrarian investors who interpret low short interest as bearish. Ringgenberg says the contrarians are wrong; his research has found that the short sellers on balance are more right than not.\nNote carefully that the chart focuses on the raw short interest ratio. As I have reported in prior columns about Ringgenberg’s research, he has found that the predictive power of the ratio can be improved by calculating where it stands relative to its underlying trend. This adjusted ratio, he adds, is even more bullish than the raw unadjusted ratio.\nNote also that the investment horizon for which this adjusted ratio has shown explanatory power is 12 months. So even if the current prediction is spot-on, it tells us nothing about the path the market takes along the way. It could be, for example, that the S&P 500SPX,+1.39%is higher in 12 months while suffering a steep decline along the way. That’s what happened over the past year.\nOne big caveat\nRinggenberg says that on rare occasions, short sellers are particularly bearish but nevertheless choose not to aggressively sell short. This occurs most typically when investor sentiment is exuberant, the market is volatile, and when certain stocks are trading without any discernible relationship to their underlying fundamentals. During such times, he said, the already-high risks that short sellers face grow to intolerable levels—and many of them retreat to the sidelines.\nI mentioned this phenomenon, referred to as the “limits to arbitrage,” in acolumn last week about the GameStop saga. Perhaps the most prominent historical example of it came at the end of the internet bubble when a number of dot-com companies with no assets, revenue or business plan were propelled to sky-high valuations. The short interest ratio actually declined from 1998 through 2000 despite ever-rising valuations.\nThere are some who currently believe we’re in a bubble similar to the late 1990s. If they’re right, then we should not make too much of short sellers’ lack of aggressiveness. Absent that possibility, the message of the short-sale ratio is bullish for the next 12 months.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":314823079,"gmtCreate":1612334476991,"gmtModify":1704869842159,"author":{"id":"3574770700496796","authorId":"3574770700496796","authorIdStr":"3574770700496796","name":"WadeW","avatar":"https://static.tigerbbs.com/515948ceeb9bc7c8764d485f743405e0","vip":1,"crmLevel":2,"crmLevelSwitch":0,"idStr":"3574770700496796"},"htmlText":"Will it not be bubble?","listText":"Will it not be bubble?","text":"Will it not be bubble?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/314823079","repostId":1172237562,"repostType":4,"repost":{"id":"1172237562","pubTimestamp":1612320389,"share":"https://ttm.financial/m/news/1172237562?lang=&edition=fundamental","pubTime":"2021-02-03 10:46","market":"us","language":"en","title":"Short-sellers were pulling back even before Reddit’s GameStop squeeze","url":"https://stock-news.laohu8.com/highlight/detail?id=1172237562","media":"marketwatch","summary":"Short-sellers in GameStopGME,-60.00%and other targeted stocks have been beaten up recently, but shor","content":"<p>Short-sellers in GameStopGME,-60.00%and other targeted stocks have been beaten up recently, but short-selling may be helping to keep the bull market alive.</p>\n<p>Short-selling, according to academic research, has strong predictive power for the U.S. stock market’s subsequent 12-month return. Right now, short interest is unusually low, says Matthew Ringgenberg, a finance professor at the University of Utah.</p>\n<p>Ringgenberg is a leading expert on the behavior of short sellers. In an interview, he observed: “Even before the recent short squeezes, short interest in December and January was approaching historically low levels. In fact, with the exception of December 2018, this is the lowest short interest has been since before the 2008 crisis.” The data to which he is referring are plotted in the chart below.</p>\n<p>Be wary of contrarian investors who interpret low short interest as bearish. Ringgenberg says the contrarians are wrong; his research has found that the short sellers on balance are more right than not.</p>\n<p>Note carefully that the chart focuses on the raw short interest ratio. As I have reported in prior columns about Ringgenberg’s research, he has found that the predictive power of the ratio can be improved by calculating where it stands relative to its underlying trend. This adjusted ratio, he adds, is even more bullish than the raw unadjusted ratio.</p>\n<p>Note also that the investment horizon for which this adjusted ratio has shown explanatory power is 12 months. So even if the current prediction is spot-on, it tells us nothing about the path the market takes along the way. It could be, for example, that the S&amp;P 500SPX,+1.39%is higher in 12 months while suffering a steep decline along the way. That’s what happened over the past year.</p>\n<p><b>One big caveat</b></p>\n<p>Ringgenberg says that on rare occasions, short sellers are particularly bearish but nevertheless choose not to aggressively sell short. This occurs most typically when investor sentiment is exuberant, the market is volatile, and when certain stocks are trading without any discernible relationship to their underlying fundamentals. During such times, he said, the already-high risks that short sellers face grow to intolerable levels—and many of them retreat to the sidelines.</p>\n<p>I mentioned this phenomenon, referred to as the “limits to arbitrage,” in acolumn last week about the GameStop saga. Perhaps the most prominent historical example of it came at the end of the internet bubble when a number of dot-com companies with no assets, revenue or business plan were propelled to sky-high valuations. The short interest ratio actually declined from 1998 through 2000 despite ever-rising valuations.</p>\n<p>There are some who currently believe we’re in a bubble similar to the late 1990s. If they’re right, then we should not make too much of short sellers’ lack of aggressiveness. Absent that possibility, the message of the short-sale ratio is bullish for the next 12 months.</p>","source":"lsy1603348471595","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Short-sellers were pulling back even before Reddit’s GameStop squeeze</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nShort-sellers were pulling back even before Reddit’s GameStop squeeze\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-02-03 10:46 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.marketwatch.com/story/short-sellers-were-pulling-back-even-before-reddits-gamestop-squeeze-11612233719?mod=home-page><strong>marketwatch</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Short-sellers in GameStopGME,-60.00%and other targeted stocks have been beaten up recently, but short-selling may be helping to keep the bull market alive.\nShort-selling, according to academic ...</p>\n\n<a href=\"https://www.marketwatch.com/story/short-sellers-were-pulling-back-even-before-reddits-gamestop-squeeze-11612233719?mod=home-page\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/9f274618dde80cee69492990094f7510","relate_stocks":{"GME":"游戏驿站"},"source_url":"https://www.marketwatch.com/story/short-sellers-were-pulling-back-even-before-reddits-gamestop-squeeze-11612233719?mod=home-page","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1172237562","content_text":"Short-sellers in GameStopGME,-60.00%and other targeted stocks have been beaten up recently, but short-selling may be helping to keep the bull market alive.\nShort-selling, according to academic research, has strong predictive power for the U.S. stock market’s subsequent 12-month return. Right now, short interest is unusually low, says Matthew Ringgenberg, a finance professor at the University of Utah.\nRinggenberg is a leading expert on the behavior of short sellers. In an interview, he observed: “Even before the recent short squeezes, short interest in December and January was approaching historically low levels. In fact, with the exception of December 2018, this is the lowest short interest has been since before the 2008 crisis.” The data to which he is referring are plotted in the chart below.\nBe wary of contrarian investors who interpret low short interest as bearish. Ringgenberg says the contrarians are wrong; his research has found that the short sellers on balance are more right than not.\nNote carefully that the chart focuses on the raw short interest ratio. As I have reported in prior columns about Ringgenberg’s research, he has found that the predictive power of the ratio can be improved by calculating where it stands relative to its underlying trend. This adjusted ratio, he adds, is even more bullish than the raw unadjusted ratio.\nNote also that the investment horizon for which this adjusted ratio has shown explanatory power is 12 months. So even if the current prediction is spot-on, it tells us nothing about the path the market takes along the way. It could be, for example, that the S&P 500SPX,+1.39%is higher in 12 months while suffering a steep decline along the way. That’s what happened over the past year.\nOne big caveat\nRinggenberg says that on rare occasions, short sellers are particularly bearish but nevertheless choose not to aggressively sell short. This occurs most typically when investor sentiment is exuberant, the market is volatile, and when certain stocks are trading without any discernible relationship to their underlying fundamentals. During such times, he said, the already-high risks that short sellers face grow to intolerable levels—and many of them retreat to the sidelines.\nI mentioned this phenomenon, referred to as the “limits to arbitrage,” in acolumn last week about the GameStop saga. Perhaps the most prominent historical example of it came at the end of the internet bubble when a number of dot-com companies with no assets, revenue or business plan were propelled to sky-high valuations. The short interest ratio actually declined from 1998 through 2000 despite ever-rising valuations.\nThere are some who currently believe we’re in a bubble similar to the late 1990s. If they’re right, then we should not make too much of short sellers’ lack of aggressiveness. Absent that possibility, the message of the short-sale ratio is bullish for the next 12 months.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":314813732,"gmtCreate":1612330410626,"gmtModify":1704869804383,"author":{"id":"3568891514747061","authorId":"3568891514747061","authorIdStr":"3568891514747061","name":"KydenC","avatar":"https://static.tigerbbs.com/80d84946aef477bc8aa11431b6dd130d","vip":1,"crmLevel":2,"crmLevelSwitch":0,"idStr":"3568891514747061"},"htmlText":"Hold the line!&nbsp;","listText":"Hold the line!&nbsp;","text":"Hold the line!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/314813732","repostId":1172237562,"repostType":4,"repost":{"id":"1172237562","pubTimestamp":1612320389,"share":"https://ttm.financial/m/news/1172237562?lang=&edition=fundamental","pubTime":"2021-02-03 10:46","market":"us","language":"en","title":"Short-sellers were pulling back even before Reddit’s GameStop squeeze","url":"https://stock-news.laohu8.com/highlight/detail?id=1172237562","media":"marketwatch","summary":"Short-sellers in GameStopGME,-60.00%and other targeted stocks have been beaten up recently, but shor","content":"<p>Short-sellers in GameStopGME,-60.00%and other targeted stocks have been beaten up recently, but short-selling may be helping to keep the bull market alive.</p>\n<p>Short-selling, according to academic research, has strong predictive power for the U.S. stock market’s subsequent 12-month return. Right now, short interest is unusually low, says Matthew Ringgenberg, a finance professor at the University of Utah.</p>\n<p>Ringgenberg is a leading expert on the behavior of short sellers. In an interview, he observed: “Even before the recent short squeezes, short interest in December and January was approaching historically low levels. In fact, with the exception of December 2018, this is the lowest short interest has been since before the 2008 crisis.” The data to which he is referring are plotted in the chart below.</p>\n<p>Be wary of contrarian investors who interpret low short interest as bearish. Ringgenberg says the contrarians are wrong; his research has found that the short sellers on balance are more right than not.</p>\n<p>Note carefully that the chart focuses on the raw short interest ratio. As I have reported in prior columns about Ringgenberg’s research, he has found that the predictive power of the ratio can be improved by calculating where it stands relative to its underlying trend. This adjusted ratio, he adds, is even more bullish than the raw unadjusted ratio.</p>\n<p>Note also that the investment horizon for which this adjusted ratio has shown explanatory power is 12 months. So even if the current prediction is spot-on, it tells us nothing about the path the market takes along the way. It could be, for example, that the S&amp;P 500SPX,+1.39%is higher in 12 months while suffering a steep decline along the way. That’s what happened over the past year.</p>\n<p><b>One big caveat</b></p>\n<p>Ringgenberg says that on rare occasions, short sellers are particularly bearish but nevertheless choose not to aggressively sell short. This occurs most typically when investor sentiment is exuberant, the market is volatile, and when certain stocks are trading without any discernible relationship to their underlying fundamentals. During such times, he said, the already-high risks that short sellers face grow to intolerable levels—and many of them retreat to the sidelines.</p>\n<p>I mentioned this phenomenon, referred to as the “limits to arbitrage,” in acolumn last week about the GameStop saga. Perhaps the most prominent historical example of it came at the end of the internet bubble when a number of dot-com companies with no assets, revenue or business plan were propelled to sky-high valuations. The short interest ratio actually declined from 1998 through 2000 despite ever-rising valuations.</p>\n<p>There are some who currently believe we’re in a bubble similar to the late 1990s. If they’re right, then we should not make too much of short sellers’ lack of aggressiveness. Absent that possibility, the message of the short-sale ratio is bullish for the next 12 months.</p>","source":"lsy1603348471595","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Short-sellers were pulling back even before Reddit’s GameStop squeeze</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nShort-sellers were pulling back even before Reddit’s GameStop squeeze\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-02-03 10:46 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.marketwatch.com/story/short-sellers-were-pulling-back-even-before-reddits-gamestop-squeeze-11612233719?mod=home-page><strong>marketwatch</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Short-sellers in GameStopGME,-60.00%and other targeted stocks have been beaten up recently, but short-selling may be helping to keep the bull market alive.\nShort-selling, according to academic ...</p>\n\n<a href=\"https://www.marketwatch.com/story/short-sellers-were-pulling-back-even-before-reddits-gamestop-squeeze-11612233719?mod=home-page\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/9f274618dde80cee69492990094f7510","relate_stocks":{"GME":"游戏驿站"},"source_url":"https://www.marketwatch.com/story/short-sellers-were-pulling-back-even-before-reddits-gamestop-squeeze-11612233719?mod=home-page","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1172237562","content_text":"Short-sellers in GameStopGME,-60.00%and other targeted stocks have been beaten up recently, but short-selling may be helping to keep the bull market alive.\nShort-selling, according to academic research, has strong predictive power for the U.S. stock market’s subsequent 12-month return. Right now, short interest is unusually low, says Matthew Ringgenberg, a finance professor at the University of Utah.\nRinggenberg is a leading expert on the behavior of short sellers. In an interview, he observed: “Even before the recent short squeezes, short interest in December and January was approaching historically low levels. In fact, with the exception of December 2018, this is the lowest short interest has been since before the 2008 crisis.” The data to which he is referring are plotted in the chart below.\nBe wary of contrarian investors who interpret low short interest as bearish. Ringgenberg says the contrarians are wrong; his research has found that the short sellers on balance are more right than not.\nNote carefully that the chart focuses on the raw short interest ratio. As I have reported in prior columns about Ringgenberg’s research, he has found that the predictive power of the ratio can be improved by calculating where it stands relative to its underlying trend. This adjusted ratio, he adds, is even more bullish than the raw unadjusted ratio.\nNote also that the investment horizon for which this adjusted ratio has shown explanatory power is 12 months. So even if the current prediction is spot-on, it tells us nothing about the path the market takes along the way. It could be, for example, that the S&P 500SPX,+1.39%is higher in 12 months while suffering a steep decline along the way. That’s what happened over the past year.\nOne big caveat\nRinggenberg says that on rare occasions, short sellers are particularly bearish but nevertheless choose not to aggressively sell short. This occurs most typically when investor sentiment is exuberant, the market is volatile, and when certain stocks are trading without any discernible relationship to their underlying fundamentals. During such times, he said, the already-high risks that short sellers face grow to intolerable levels—and many of them retreat to the sidelines.\nI mentioned this phenomenon, referred to as the “limits to arbitrage,” in acolumn last week about the GameStop saga. Perhaps the most prominent historical example of it came at the end of the internet bubble when a number of dot-com companies with no assets, revenue or business plan were propelled to sky-high valuations. The short interest ratio actually declined from 1998 through 2000 despite ever-rising valuations.\nThere are some who currently believe we’re in a bubble similar to the late 1990s. If they’re right, then we should not make too much of short sellers’ lack of aggressiveness. Absent that possibility, the message of the short-sale ratio is bullish for the next 12 months.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":314839346,"gmtCreate":1612328704485,"gmtModify":1704869787359,"author":{"id":"3575337793987264","authorId":"3575337793987264","authorIdStr":"3575337793987264","name":"GrowWealth","avatar":"https://static.tigerbbs.com/22407616119ef279213e131018a44959","vip":1,"crmLevel":2,"crmLevelSwitch":0,"idStr":"3575337793987264"},"htmlText":"Just identify fundamentally strong stocks and go long on them... in the long term these are bound to go up.&nbsp;","listText":"Just identify fundamentally strong stocks and go long on them... in the long term these are bound to go up.&nbsp;","text":"Just identify fundamentally strong stocks and go long on them... in the long term these are bound to go up.","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/314839346","repostId":1172237562,"repostType":4,"repost":{"id":"1172237562","pubTimestamp":1612320389,"share":"https://ttm.financial/m/news/1172237562?lang=&edition=fundamental","pubTime":"2021-02-03 10:46","market":"us","language":"en","title":"Short-sellers were pulling back even before Reddit’s GameStop squeeze","url":"https://stock-news.laohu8.com/highlight/detail?id=1172237562","media":"marketwatch","summary":"Short-sellers in GameStopGME,-60.00%and other targeted stocks have been beaten up recently, but shor","content":"<p>Short-sellers in GameStopGME,-60.00%and other targeted stocks have been beaten up recently, but short-selling may be helping to keep the bull market alive.</p>\n<p>Short-selling, according to academic research, has strong predictive power for the U.S. stock market’s subsequent 12-month return. Right now, short interest is unusually low, says Matthew Ringgenberg, a finance professor at the University of Utah.</p>\n<p>Ringgenberg is a leading expert on the behavior of short sellers. In an interview, he observed: “Even before the recent short squeezes, short interest in December and January was approaching historically low levels. In fact, with the exception of December 2018, this is the lowest short interest has been since before the 2008 crisis.” The data to which he is referring are plotted in the chart below.</p>\n<p>Be wary of contrarian investors who interpret low short interest as bearish. Ringgenberg says the contrarians are wrong; his research has found that the short sellers on balance are more right than not.</p>\n<p>Note carefully that the chart focuses on the raw short interest ratio. As I have reported in prior columns about Ringgenberg’s research, he has found that the predictive power of the ratio can be improved by calculating where it stands relative to its underlying trend. This adjusted ratio, he adds, is even more bullish than the raw unadjusted ratio.</p>\n<p>Note also that the investment horizon for which this adjusted ratio has shown explanatory power is 12 months. So even if the current prediction is spot-on, it tells us nothing about the path the market takes along the way. It could be, for example, that the S&amp;P 500SPX,+1.39%is higher in 12 months while suffering a steep decline along the way. That’s what happened over the past year.</p>\n<p><b>One big caveat</b></p>\n<p>Ringgenberg says that on rare occasions, short sellers are particularly bearish but nevertheless choose not to aggressively sell short. This occurs most typically when investor sentiment is exuberant, the market is volatile, and when certain stocks are trading without any discernible relationship to their underlying fundamentals. During such times, he said, the already-high risks that short sellers face grow to intolerable levels—and many of them retreat to the sidelines.</p>\n<p>I mentioned this phenomenon, referred to as the “limits to arbitrage,” in acolumn last week about the GameStop saga. Perhaps the most prominent historical example of it came at the end of the internet bubble when a number of dot-com companies with no assets, revenue or business plan were propelled to sky-high valuations. The short interest ratio actually declined from 1998 through 2000 despite ever-rising valuations.</p>\n<p>There are some who currently believe we’re in a bubble similar to the late 1990s. If they’re right, then we should not make too much of short sellers’ lack of aggressiveness. Absent that possibility, the message of the short-sale ratio is bullish for the next 12 months.</p>","source":"lsy1603348471595","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Short-sellers were pulling back even before Reddit’s GameStop squeeze</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nShort-sellers were pulling back even before Reddit’s GameStop squeeze\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-02-03 10:46 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.marketwatch.com/story/short-sellers-were-pulling-back-even-before-reddits-gamestop-squeeze-11612233719?mod=home-page><strong>marketwatch</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Short-sellers in GameStopGME,-60.00%and other targeted stocks have been beaten up recently, but short-selling may be helping to keep the bull market alive.\nShort-selling, according to academic ...</p>\n\n<a href=\"https://www.marketwatch.com/story/short-sellers-were-pulling-back-even-before-reddits-gamestop-squeeze-11612233719?mod=home-page\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/9f274618dde80cee69492990094f7510","relate_stocks":{"GME":"游戏驿站"},"source_url":"https://www.marketwatch.com/story/short-sellers-were-pulling-back-even-before-reddits-gamestop-squeeze-11612233719?mod=home-page","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1172237562","content_text":"Short-sellers in GameStopGME,-60.00%and other targeted stocks have been beaten up recently, but short-selling may be helping to keep the bull market alive.\nShort-selling, according to academic research, has strong predictive power for the U.S. stock market’s subsequent 12-month return. Right now, short interest is unusually low, says Matthew Ringgenberg, a finance professor at the University of Utah.\nRinggenberg is a leading expert on the behavior of short sellers. In an interview, he observed: “Even before the recent short squeezes, short interest in December and January was approaching historically low levels. In fact, with the exception of December 2018, this is the lowest short interest has been since before the 2008 crisis.” The data to which he is referring are plotted in the chart below.\nBe wary of contrarian investors who interpret low short interest as bearish. Ringgenberg says the contrarians are wrong; his research has found that the short sellers on balance are more right than not.\nNote carefully that the chart focuses on the raw short interest ratio. As I have reported in prior columns about Ringgenberg’s research, he has found that the predictive power of the ratio can be improved by calculating where it stands relative to its underlying trend. This adjusted ratio, he adds, is even more bullish than the raw unadjusted ratio.\nNote also that the investment horizon for which this adjusted ratio has shown explanatory power is 12 months. So even if the current prediction is spot-on, it tells us nothing about the path the market takes along the way. It could be, for example, that the S&P 500SPX,+1.39%is higher in 12 months while suffering a steep decline along the way. That’s what happened over the past year.\nOne big caveat\nRinggenberg says that on rare occasions, short sellers are particularly bearish but nevertheless choose not to aggressively sell short. This occurs most typically when investor sentiment is exuberant, the market is volatile, and when certain stocks are trading without any discernible relationship to their underlying fundamentals. During such times, he said, the already-high risks that short sellers face grow to intolerable levels—and many of them retreat to the sidelines.\nI mentioned this phenomenon, referred to as the “limits to arbitrage,” in acolumn last week about the GameStop saga. Perhaps the most prominent historical example of it came at the end of the internet bubble when a number of dot-com companies with no assets, revenue or business plan were propelled to sky-high valuations. The short interest ratio actually declined from 1998 through 2000 despite ever-rising valuations.\nThere are some who currently believe we’re in a bubble similar to the late 1990s. If they’re right, then we should not make too much of short sellers’ lack of aggressiveness. Absent that possibility, the message of the short-sale ratio is bullish for the next 12 months.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":3475672,"gmtCreate":1612330384087,"gmtModify":1680775467343,"authorId":3527667803686145,"author":{"id":3527667803686145,"authorId":3527667803686145,"name":"社区成长助手","avatar":"https://static.tigerbbs.com/2b7c7106b5c0c8b0037faa67439d898f","vip":1,"crmLevel":1,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":314839346,"type":1,"supId":0,"prevId":0,"content":"终于等到了您的初发帖[比心][比心]发帖时关联相关股票或者相关话题，可以获得更多曝光哦～如果您想创作优质文章，请查看<a href=\"https://laohu8.com/TW/934879903\">老虎社区创作指引</a>","text":"终于等到了您的初发帖[比心][比心]发帖时关联相关股票或者相关话题，可以获得更多曝光哦～如果您想创作优质文章，请查看<a href=\"https://laohu8.com/TW/934879903\">老虎社区创作指引</a>","html":"终于等到了您的初发帖[比心][比心]发帖时关联相关股票或者相关话题，可以获得更多曝光哦～如果您想创作优质文章，请查看<a href=\"https://laohu8.com/TW/934879903\">老虎社区创作指引</a>"}],"langContent":"EN"},{"id":314830217,"gmtCreate":1612328652339,"gmtModify":1704869786067,"author":{"id":"3555018550188293","authorId":"3555018550188293","authorIdStr":"3555018550188293","name":"DesmondPoh","avatar":"https://static.tigerbbs.com/73350336aa39b0b06d62686c35ab1ee7","vip":1,"crmLevel":6,"crmLevelSwitch":1,"idStr":"3555018550188293"},"htmlText":"It was never sustainable, I’m sure many trying to make fast money got burnt.&nbsp;","listText":"It was never sustainable, I’m sure many trying to make fast money got burnt.&nbsp;","text":"It was never sustainable, I’m sure many trying to make fast money got burnt.","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/314830217","repostId":1172237562,"repostType":4,"repost":{"id":"1172237562","pubTimestamp":1612320389,"share":"https://ttm.financial/m/news/1172237562?lang=&edition=fundamental","pubTime":"2021-02-03 10:46","market":"us","language":"en","title":"Short-sellers were pulling back even before Reddit’s GameStop squeeze","url":"https://stock-news.laohu8.com/highlight/detail?id=1172237562","media":"marketwatch","summary":"Short-sellers in GameStopGME,-60.00%and other targeted stocks have been beaten up recently, but shor","content":"<p>Short-sellers in GameStopGME,-60.00%and other targeted stocks have been beaten up recently, but short-selling may be helping to keep the bull market alive.</p>\n<p>Short-selling, according to academic research, has strong predictive power for the U.S. stock market’s subsequent 12-month return. Right now, short interest is unusually low, says Matthew Ringgenberg, a finance professor at the University of Utah.</p>\n<p>Ringgenberg is a leading expert on the behavior of short sellers. In an interview, he observed: “Even before the recent short squeezes, short interest in December and January was approaching historically low levels. In fact, with the exception of December 2018, this is the lowest short interest has been since before the 2008 crisis.” The data to which he is referring are plotted in the chart below.</p>\n<p>Be wary of contrarian investors who interpret low short interest as bearish. Ringgenberg says the contrarians are wrong; his research has found that the short sellers on balance are more right than not.</p>\n<p>Note carefully that the chart focuses on the raw short interest ratio. As I have reported in prior columns about Ringgenberg’s research, he has found that the predictive power of the ratio can be improved by calculating where it stands relative to its underlying trend. This adjusted ratio, he adds, is even more bullish than the raw unadjusted ratio.</p>\n<p>Note also that the investment horizon for which this adjusted ratio has shown explanatory power is 12 months. So even if the current prediction is spot-on, it tells us nothing about the path the market takes along the way. It could be, for example, that the S&amp;P 500SPX,+1.39%is higher in 12 months while suffering a steep decline along the way. That’s what happened over the past year.</p>\n<p><b>One big caveat</b></p>\n<p>Ringgenberg says that on rare occasions, short sellers are particularly bearish but nevertheless choose not to aggressively sell short. This occurs most typically when investor sentiment is exuberant, the market is volatile, and when certain stocks are trading without any discernible relationship to their underlying fundamentals. During such times, he said, the already-high risks that short sellers face grow to intolerable levels—and many of them retreat to the sidelines.</p>\n<p>I mentioned this phenomenon, referred to as the “limits to arbitrage,” in acolumn last week about the GameStop saga. Perhaps the most prominent historical example of it came at the end of the internet bubble when a number of dot-com companies with no assets, revenue or business plan were propelled to sky-high valuations. The short interest ratio actually declined from 1998 through 2000 despite ever-rising valuations.</p>\n<p>There are some who currently believe we’re in a bubble similar to the late 1990s. If they’re right, then we should not make too much of short sellers’ lack of aggressiveness. Absent that possibility, the message of the short-sale ratio is bullish for the next 12 months.</p>","source":"lsy1603348471595","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Short-sellers were pulling back even before Reddit’s GameStop squeeze</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nShort-sellers were pulling back even before Reddit’s GameStop squeeze\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-02-03 10:46 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.marketwatch.com/story/short-sellers-were-pulling-back-even-before-reddits-gamestop-squeeze-11612233719?mod=home-page><strong>marketwatch</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Short-sellers in GameStopGME,-60.00%and other targeted stocks have been beaten up recently, but short-selling may be helping to keep the bull market alive.\nShort-selling, according to academic ...</p>\n\n<a href=\"https://www.marketwatch.com/story/short-sellers-were-pulling-back-even-before-reddits-gamestop-squeeze-11612233719?mod=home-page\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/9f274618dde80cee69492990094f7510","relate_stocks":{"GME":"游戏驿站"},"source_url":"https://www.marketwatch.com/story/short-sellers-were-pulling-back-even-before-reddits-gamestop-squeeze-11612233719?mod=home-page","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1172237562","content_text":"Short-sellers in GameStopGME,-60.00%and other targeted stocks have been beaten up recently, but short-selling may be helping to keep the bull market alive.\nShort-selling, according to academic research, has strong predictive power for the U.S. stock market’s subsequent 12-month return. Right now, short interest is unusually low, says Matthew Ringgenberg, a finance professor at the University of Utah.\nRinggenberg is a leading expert on the behavior of short sellers. In an interview, he observed: “Even before the recent short squeezes, short interest in December and January was approaching historically low levels. In fact, with the exception of December 2018, this is the lowest short interest has been since before the 2008 crisis.” The data to which he is referring are plotted in the chart below.\nBe wary of contrarian investors who interpret low short interest as bearish. Ringgenberg says the contrarians are wrong; his research has found that the short sellers on balance are more right than not.\nNote carefully that the chart focuses on the raw short interest ratio. As I have reported in prior columns about Ringgenberg’s research, he has found that the predictive power of the ratio can be improved by calculating where it stands relative to its underlying trend. This adjusted ratio, he adds, is even more bullish than the raw unadjusted ratio.\nNote also that the investment horizon for which this adjusted ratio has shown explanatory power is 12 months. So even if the current prediction is spot-on, it tells us nothing about the path the market takes along the way. It could be, for example, that the S&P 500SPX,+1.39%is higher in 12 months while suffering a steep decline along the way. That’s what happened over the past year.\nOne big caveat\nRinggenberg says that on rare occasions, short sellers are particularly bearish but nevertheless choose not to aggressively sell short. This occurs most typically when investor sentiment is exuberant, the market is volatile, and when certain stocks are trading without any discernible relationship to their underlying fundamentals. During such times, he said, the already-high risks that short sellers face grow to intolerable levels—and many of them retreat to the sidelines.\nI mentioned this phenomenon, referred to as the “limits to arbitrage,” in acolumn last week about the GameStop saga. Perhaps the most prominent historical example of it came at the end of the internet bubble when a number of dot-com companies with no assets, revenue or business plan were propelled to sky-high valuations. The short interest ratio actually declined from 1998 through 2000 despite ever-rising valuations.\nThere are some who currently believe we’re in a bubble similar to the late 1990s. If they’re right, then we should not make too much of short sellers’ lack of aggressiveness. Absent that possibility, the message of the short-sale ratio is bullish for the next 12 months.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":314174614,"gmtCreate":1612325963938,"gmtModify":1704869757258,"author":{"id":"3573677641656185","authorId":"3573677641656185","authorIdStr":"3573677641656185","name":"Hazydusk","avatar":"https://static.tigerbbs.com/8a582cea556a27fd219a803a1bc56961","vip":1,"crmLevel":4,"crmLevelSwitch":0,"idStr":"3573677641656185"},"htmlText":"It’s the end??","listText":"It’s the end??","text":"It’s the end??","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/314174614","repostId":1172237562,"repostType":4,"repost":{"id":"1172237562","pubTimestamp":1612320389,"share":"https://ttm.financial/m/news/1172237562?lang=&edition=fundamental","pubTime":"2021-02-03 10:46","market":"us","language":"en","title":"Short-sellers were pulling back even before Reddit’s GameStop squeeze","url":"https://stock-news.laohu8.com/highlight/detail?id=1172237562","media":"marketwatch","summary":"Short-sellers in GameStopGME,-60.00%and other targeted stocks have been beaten up recently, but shor","content":"<p>Short-sellers in GameStopGME,-60.00%and other targeted stocks have been beaten up recently, but short-selling may be helping to keep the bull market alive.</p>\n<p>Short-selling, according to academic research, has strong predictive power for the U.S. stock market’s subsequent 12-month return. Right now, short interest is unusually low, says Matthew Ringgenberg, a finance professor at the University of Utah.</p>\n<p>Ringgenberg is a leading expert on the behavior of short sellers. In an interview, he observed: “Even before the recent short squeezes, short interest in December and January was approaching historically low levels. In fact, with the exception of December 2018, this is the lowest short interest has been since before the 2008 crisis.” The data to which he is referring are plotted in the chart below.</p>\n<p>Be wary of contrarian investors who interpret low short interest as bearish. Ringgenberg says the contrarians are wrong; his research has found that the short sellers on balance are more right than not.</p>\n<p>Note carefully that the chart focuses on the raw short interest ratio. As I have reported in prior columns about Ringgenberg’s research, he has found that the predictive power of the ratio can be improved by calculating where it stands relative to its underlying trend. This adjusted ratio, he adds, is even more bullish than the raw unadjusted ratio.</p>\n<p>Note also that the investment horizon for which this adjusted ratio has shown explanatory power is 12 months. So even if the current prediction is spot-on, it tells us nothing about the path the market takes along the way. It could be, for example, that the S&amp;P 500SPX,+1.39%is higher in 12 months while suffering a steep decline along the way. That’s what happened over the past year.</p>\n<p><b>One big caveat</b></p>\n<p>Ringgenberg says that on rare occasions, short sellers are particularly bearish but nevertheless choose not to aggressively sell short. This occurs most typically when investor sentiment is exuberant, the market is volatile, and when certain stocks are trading without any discernible relationship to their underlying fundamentals. During such times, he said, the already-high risks that short sellers face grow to intolerable levels—and many of them retreat to the sidelines.</p>\n<p>I mentioned this phenomenon, referred to as the “limits to arbitrage,” in acolumn last week about the GameStop saga. Perhaps the most prominent historical example of it came at the end of the internet bubble when a number of dot-com companies with no assets, revenue or business plan were propelled to sky-high valuations. The short interest ratio actually declined from 1998 through 2000 despite ever-rising valuations.</p>\n<p>There are some who currently believe we’re in a bubble similar to the late 1990s. If they’re right, then we should not make too much of short sellers’ lack of aggressiveness. Absent that possibility, the message of the short-sale ratio is bullish for the next 12 months.</p>","source":"lsy1603348471595","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Short-sellers were pulling back even before Reddit’s GameStop squeeze</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nShort-sellers were pulling back even before Reddit’s GameStop squeeze\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-02-03 10:46 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.marketwatch.com/story/short-sellers-were-pulling-back-even-before-reddits-gamestop-squeeze-11612233719?mod=home-page><strong>marketwatch</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Short-sellers in GameStopGME,-60.00%and other targeted stocks have been beaten up recently, but short-selling may be helping to keep the bull market alive.\nShort-selling, according to academic ...</p>\n\n<a href=\"https://www.marketwatch.com/story/short-sellers-were-pulling-back-even-before-reddits-gamestop-squeeze-11612233719?mod=home-page\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/9f274618dde80cee69492990094f7510","relate_stocks":{"GME":"游戏驿站"},"source_url":"https://www.marketwatch.com/story/short-sellers-were-pulling-back-even-before-reddits-gamestop-squeeze-11612233719?mod=home-page","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1172237562","content_text":"Short-sellers in GameStopGME,-60.00%and other targeted stocks have been beaten up recently, but short-selling may be helping to keep the bull market alive.\nShort-selling, according to academic research, has strong predictive power for the U.S. stock market’s subsequent 12-month return. Right now, short interest is unusually low, says Matthew Ringgenberg, a finance professor at the University of Utah.\nRinggenberg is a leading expert on the behavior of short sellers. In an interview, he observed: “Even before the recent short squeezes, short interest in December and January was approaching historically low levels. In fact, with the exception of December 2018, this is the lowest short interest has been since before the 2008 crisis.” The data to which he is referring are plotted in the chart below.\nBe wary of contrarian investors who interpret low short interest as bearish. Ringgenberg says the contrarians are wrong; his research has found that the short sellers on balance are more right than not.\nNote carefully that the chart focuses on the raw short interest ratio. As I have reported in prior columns about Ringgenberg’s research, he has found that the predictive power of the ratio can be improved by calculating where it stands relative to its underlying trend. This adjusted ratio, he adds, is even more bullish than the raw unadjusted ratio.\nNote also that the investment horizon for which this adjusted ratio has shown explanatory power is 12 months. So even if the current prediction is spot-on, it tells us nothing about the path the market takes along the way. It could be, for example, that the S&P 500SPX,+1.39%is higher in 12 months while suffering a steep decline along the way. That’s what happened over the past year.\nOne big caveat\nRinggenberg says that on rare occasions, short sellers are particularly bearish but nevertheless choose not to aggressively sell short. This occurs most typically when investor sentiment is exuberant, the market is volatile, and when certain stocks are trading without any discernible relationship to their underlying fundamentals. During such times, he said, the already-high risks that short sellers face grow to intolerable levels—and many of them retreat to the sidelines.\nI mentioned this phenomenon, referred to as the “limits to arbitrage,” in acolumn last week about the GameStop saga. Perhaps the most prominent historical example of it came at the end of the internet bubble when a number of dot-com companies with no assets, revenue or business plan were propelled to sky-high valuations. The short interest ratio actually declined from 1998 through 2000 despite ever-rising valuations.\nThere are some who currently believe we’re in a bubble similar to the late 1990s. If they’re right, then we should not make too much of short sellers’ lack of aggressiveness. Absent that possibility, the message of the short-sale ratio is bullish for the next 12 months.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":314176279,"gmtCreate":1612325646591,"gmtModify":1704869753704,"author":{"id":"3568292500541996","authorId":"3568292500541996","authorIdStr":"3568292500541996","name":"edwinsercl","avatar":"https://static.tigerbbs.com/7139200c8e6e121141ef3eec72adebae","vip":1,"crmLevel":2,"crmLevelSwitch":0,"idStr":"3568292500541996"},"htmlText":"This stock is too volatile for me","listText":"This stock is too volatile for me","text":"This stock is too volatile for me","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/314176279","repostId":1172237562,"repostType":4,"repost":{"id":"1172237562","pubTimestamp":1612320389,"share":"https://ttm.financial/m/news/1172237562?lang=&edition=fundamental","pubTime":"2021-02-03 10:46","market":"us","language":"en","title":"Short-sellers were pulling back even before Reddit’s GameStop squeeze","url":"https://stock-news.laohu8.com/highlight/detail?id=1172237562","media":"marketwatch","summary":"Short-sellers in GameStopGME,-60.00%and other targeted stocks have been beaten up recently, but shor","content":"<p>Short-sellers in GameStopGME,-60.00%and other targeted stocks have been beaten up recently, but short-selling may be helping to keep the bull market alive.</p>\n<p>Short-selling, according to academic research, has strong predictive power for the U.S. stock market’s subsequent 12-month return. Right now, short interest is unusually low, says Matthew Ringgenberg, a finance professor at the University of Utah.</p>\n<p>Ringgenberg is a leading expert on the behavior of short sellers. In an interview, he observed: “Even before the recent short squeezes, short interest in December and January was approaching historically low levels. In fact, with the exception of December 2018, this is the lowest short interest has been since before the 2008 crisis.” The data to which he is referring are plotted in the chart below.</p>\n<p>Be wary of contrarian investors who interpret low short interest as bearish. Ringgenberg says the contrarians are wrong; his research has found that the short sellers on balance are more right than not.</p>\n<p>Note carefully that the chart focuses on the raw short interest ratio. As I have reported in prior columns about Ringgenberg’s research, he has found that the predictive power of the ratio can be improved by calculating where it stands relative to its underlying trend. This adjusted ratio, he adds, is even more bullish than the raw unadjusted ratio.</p>\n<p>Note also that the investment horizon for which this adjusted ratio has shown explanatory power is 12 months. So even if the current prediction is spot-on, it tells us nothing about the path the market takes along the way. It could be, for example, that the S&amp;P 500SPX,+1.39%is higher in 12 months while suffering a steep decline along the way. That’s what happened over the past year.</p>\n<p><b>One big caveat</b></p>\n<p>Ringgenberg says that on rare occasions, short sellers are particularly bearish but nevertheless choose not to aggressively sell short. This occurs most typically when investor sentiment is exuberant, the market is volatile, and when certain stocks are trading without any discernible relationship to their underlying fundamentals. During such times, he said, the already-high risks that short sellers face grow to intolerable levels—and many of them retreat to the sidelines.</p>\n<p>I mentioned this phenomenon, referred to as the “limits to arbitrage,” in acolumn last week about the GameStop saga. Perhaps the most prominent historical example of it came at the end of the internet bubble when a number of dot-com companies with no assets, revenue or business plan were propelled to sky-high valuations. The short interest ratio actually declined from 1998 through 2000 despite ever-rising valuations.</p>\n<p>There are some who currently believe we’re in a bubble similar to the late 1990s. If they’re right, then we should not make too much of short sellers’ lack of aggressiveness. Absent that possibility, the message of the short-sale ratio is bullish for the next 12 months.</p>","source":"lsy1603348471595","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Short-sellers were pulling back even before Reddit’s GameStop squeeze</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nShort-sellers were pulling back even before Reddit’s GameStop squeeze\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-02-03 10:46 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.marketwatch.com/story/short-sellers-were-pulling-back-even-before-reddits-gamestop-squeeze-11612233719?mod=home-page><strong>marketwatch</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Short-sellers in GameStopGME,-60.00%and other targeted stocks have been beaten up recently, but short-selling may be helping to keep the bull market alive.\nShort-selling, according to academic ...</p>\n\n<a href=\"https://www.marketwatch.com/story/short-sellers-were-pulling-back-even-before-reddits-gamestop-squeeze-11612233719?mod=home-page\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/9f274618dde80cee69492990094f7510","relate_stocks":{"GME":"游戏驿站"},"source_url":"https://www.marketwatch.com/story/short-sellers-were-pulling-back-even-before-reddits-gamestop-squeeze-11612233719?mod=home-page","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1172237562","content_text":"Short-sellers in GameStopGME,-60.00%and other targeted stocks have been beaten up recently, but short-selling may be helping to keep the bull market alive.\nShort-selling, according to academic research, has strong predictive power for the U.S. stock market’s subsequent 12-month return. Right now, short interest is unusually low, says Matthew Ringgenberg, a finance professor at the University of Utah.\nRinggenberg is a leading expert on the behavior of short sellers. In an interview, he observed: “Even before the recent short squeezes, short interest in December and January was approaching historically low levels. In fact, with the exception of December 2018, this is the lowest short interest has been since before the 2008 crisis.” The data to which he is referring are plotted in the chart below.\nBe wary of contrarian investors who interpret low short interest as bearish. Ringgenberg says the contrarians are wrong; his research has found that the short sellers on balance are more right than not.\nNote carefully that the chart focuses on the raw short interest ratio. As I have reported in prior columns about Ringgenberg’s research, he has found that the predictive power of the ratio can be improved by calculating where it stands relative to its underlying trend. This adjusted ratio, he adds, is even more bullish than the raw unadjusted ratio.\nNote also that the investment horizon for which this adjusted ratio has shown explanatory power is 12 months. So even if the current prediction is spot-on, it tells us nothing about the path the market takes along the way. It could be, for example, that the S&P 500SPX,+1.39%is higher in 12 months while suffering a steep decline along the way. That’s what happened over the past year.\nOne big caveat\nRinggenberg says that on rare occasions, short sellers are particularly bearish but nevertheless choose not to aggressively sell short. This occurs most typically when investor sentiment is exuberant, the market is volatile, and when certain stocks are trading without any discernible relationship to their underlying fundamentals. During such times, he said, the already-high risks that short sellers face grow to intolerable levels—and many of them retreat to the sidelines.\nI mentioned this phenomenon, referred to as the “limits to arbitrage,” in acolumn last week about the GameStop saga. Perhaps the most prominent historical example of it came at the end of the internet bubble when a number of dot-com companies with no assets, revenue or business plan were propelled to sky-high valuations. The short interest ratio actually declined from 1998 through 2000 despite ever-rising valuations.\nThere are some who currently believe we’re in a bubble similar to the late 1990s. If they’re right, then we should not make too much of short sellers’ lack of aggressiveness. Absent that possibility, the message of the short-sale ratio is bullish for the next 12 months.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":314176144,"gmtCreate":1612325623688,"gmtModify":1704869753057,"author":{"id":"3559700461523213","authorId":"3559700461523213","authorIdStr":"3559700461523213","name":"Dont be weak","avatar":"https://static.tigerbbs.com/06b3e51be6a54224a834dd01de25f3cc","vip":1,"crmLevel":5,"crmLevelSwitch":1,"idStr":"3559700461523213"},"htmlText":"Dangerous stock now","listText":"Dangerous stock now","text":"Dangerous stock now","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/314176144","repostId":1172237562,"repostType":4,"repost":{"id":"1172237562","pubTimestamp":1612320389,"share":"https://ttm.financial/m/news/1172237562?lang=&edition=fundamental","pubTime":"2021-02-03 10:46","market":"us","language":"en","title":"Short-sellers were pulling back even before Reddit’s GameStop squeeze","url":"https://stock-news.laohu8.com/highlight/detail?id=1172237562","media":"marketwatch","summary":"Short-sellers in GameStopGME,-60.00%and other targeted stocks have been beaten up recently, but shor","content":"<p>Short-sellers in GameStopGME,-60.00%and other targeted stocks have been beaten up recently, but short-selling may be helping to keep the bull market alive.</p>\n<p>Short-selling, according to academic research, has strong predictive power for the U.S. stock market’s subsequent 12-month return. Right now, short interest is unusually low, says Matthew Ringgenberg, a finance professor at the University of Utah.</p>\n<p>Ringgenberg is a leading expert on the behavior of short sellers. In an interview, he observed: “Even before the recent short squeezes, short interest in December and January was approaching historically low levels. In fact, with the exception of December 2018, this is the lowest short interest has been since before the 2008 crisis.” The data to which he is referring are plotted in the chart below.</p>\n<p>Be wary of contrarian investors who interpret low short interest as bearish. Ringgenberg says the contrarians are wrong; his research has found that the short sellers on balance are more right than not.</p>\n<p>Note carefully that the chart focuses on the raw short interest ratio. As I have reported in prior columns about Ringgenberg’s research, he has found that the predictive power of the ratio can be improved by calculating where it stands relative to its underlying trend. This adjusted ratio, he adds, is even more bullish than the raw unadjusted ratio.</p>\n<p>Note also that the investment horizon for which this adjusted ratio has shown explanatory power is 12 months. So even if the current prediction is spot-on, it tells us nothing about the path the market takes along the way. It could be, for example, that the S&amp;P 500SPX,+1.39%is higher in 12 months while suffering a steep decline along the way. That’s what happened over the past year.</p>\n<p><b>One big caveat</b></p>\n<p>Ringgenberg says that on rare occasions, short sellers are particularly bearish but nevertheless choose not to aggressively sell short. This occurs most typically when investor sentiment is exuberant, the market is volatile, and when certain stocks are trading without any discernible relationship to their underlying fundamentals. During such times, he said, the already-high risks that short sellers face grow to intolerable levels—and many of them retreat to the sidelines.</p>\n<p>I mentioned this phenomenon, referred to as the “limits to arbitrage,” in acolumn last week about the GameStop saga. Perhaps the most prominent historical example of it came at the end of the internet bubble when a number of dot-com companies with no assets, revenue or business plan were propelled to sky-high valuations. The short interest ratio actually declined from 1998 through 2000 despite ever-rising valuations.</p>\n<p>There are some who currently believe we’re in a bubble similar to the late 1990s. If they’re right, then we should not make too much of short sellers’ lack of aggressiveness. Absent that possibility, the message of the short-sale ratio is bullish for the next 12 months.</p>","source":"lsy1603348471595","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Short-sellers were pulling back even before Reddit’s GameStop squeeze</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nShort-sellers were pulling back even before Reddit’s GameStop squeeze\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-02-03 10:46 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.marketwatch.com/story/short-sellers-were-pulling-back-even-before-reddits-gamestop-squeeze-11612233719?mod=home-page><strong>marketwatch</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Short-sellers in GameStopGME,-60.00%and other targeted stocks have been beaten up recently, but short-selling may be helping to keep the bull market alive.\nShort-selling, according to academic ...</p>\n\n<a href=\"https://www.marketwatch.com/story/short-sellers-were-pulling-back-even-before-reddits-gamestop-squeeze-11612233719?mod=home-page\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/9f274618dde80cee69492990094f7510","relate_stocks":{"GME":"游戏驿站"},"source_url":"https://www.marketwatch.com/story/short-sellers-were-pulling-back-even-before-reddits-gamestop-squeeze-11612233719?mod=home-page","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1172237562","content_text":"Short-sellers in GameStopGME,-60.00%and other targeted stocks have been beaten up recently, but short-selling may be helping to keep the bull market alive.\nShort-selling, according to academic research, has strong predictive power for the U.S. stock market’s subsequent 12-month return. Right now, short interest is unusually low, says Matthew Ringgenberg, a finance professor at the University of Utah.\nRinggenberg is a leading expert on the behavior of short sellers. In an interview, he observed: “Even before the recent short squeezes, short interest in December and January was approaching historically low levels. In fact, with the exception of December 2018, this is the lowest short interest has been since before the 2008 crisis.” The data to which he is referring are plotted in the chart below.\nBe wary of contrarian investors who interpret low short interest as bearish. Ringgenberg says the contrarians are wrong; his research has found that the short sellers on balance are more right than not.\nNote carefully that the chart focuses on the raw short interest ratio. As I have reported in prior columns about Ringgenberg’s research, he has found that the predictive power of the ratio can be improved by calculating where it stands relative to its underlying trend. This adjusted ratio, he adds, is even more bullish than the raw unadjusted ratio.\nNote also that the investment horizon for which this adjusted ratio has shown explanatory power is 12 months. So even if the current prediction is spot-on, it tells us nothing about the path the market takes along the way. It could be, for example, that the S&P 500SPX,+1.39%is higher in 12 months while suffering a steep decline along the way. That’s what happened over the past year.\nOne big caveat\nRinggenberg says that on rare occasions, short sellers are particularly bearish but nevertheless choose not to aggressively sell short. This occurs most typically when investor sentiment is exuberant, the market is volatile, and when certain stocks are trading without any discernible relationship to their underlying fundamentals. During such times, he said, the already-high risks that short sellers face grow to intolerable levels—and many of them retreat to the sidelines.\nI mentioned this phenomenon, referred to as the “limits to arbitrage,” in acolumn last week about the GameStop saga. Perhaps the most prominent historical example of it came at the end of the internet bubble when a number of dot-com companies with no assets, revenue or business plan were propelled to sky-high valuations. The short interest ratio actually declined from 1998 through 2000 despite ever-rising valuations.\nThere are some who currently believe we’re in a bubble similar to the late 1990s. If they’re right, then we should not make too much of short sellers’ lack of aggressiveness. Absent that possibility, the message of the short-sale ratio is bullish for the next 12 months.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":3475246,"gmtCreate":1612326080011,"gmtModify":1680775464669,"authorId":3527667803686145,"author":{"id":3527667803686145,"authorId":3527667803686145,"name":"社区成长助手","avatar":"https://static.tigerbbs.com/2b7c7106b5c0c8b0037faa67439d898f","vip":1,"crmLevel":1,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":314176144,"type":1,"supId":0,"prevId":0,"content":"终于等到了您的初发帖[比心][比心]发帖时关联相关股票或者相关话题，可以获得更多曝光哦～如果您想创作优质文章，请查看<a href=\"https://laohu8.com/TW/934879903\">老虎社区创作指引</a>","text":"终于等到了您的初发帖[比心][比心]发帖时关联相关股票或者相关话题，可以获得更多曝光哦～如果您想创作优质文章，请查看<a href=\"https://laohu8.com/TW/934879903\">老虎社区创作指引</a>","html":"终于等到了您的初发帖[比心][比心]发帖时关联相关股票或者相关话题，可以获得更多曝光哦～如果您想创作优质文章，请查看<a href=\"https://laohu8.com/TW/934879903\">老虎社区创作指引</a>"}],"langContent":"EN"},{"id":314171881,"gmtCreate":1612325527443,"gmtModify":1704869751117,"author":{"id":"3574902235266465","authorId":"3574902235266465","authorIdStr":"3574902235266465","name":"NekoCatBin","avatar":"https://static.tigerbbs.com/fc243854847e0bb4cc112b417d854611","vip":1,"crmLevel":2,"crmLevelSwitch":0,"idStr":"3574902235266465"},"htmlText":"Rip","listText":"Rip","text":"Rip","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/314171881","repostId":1172237562,"repostType":4,"repost":{"id":"1172237562","pubTimestamp":1612320389,"share":"https://ttm.financial/m/news/1172237562?lang=&edition=fundamental","pubTime":"2021-02-03 10:46","market":"us","language":"en","title":"Short-sellers were pulling back even before Reddit’s GameStop squeeze","url":"https://stock-news.laohu8.com/highlight/detail?id=1172237562","media":"marketwatch","summary":"Short-sellers in GameStopGME,-60.00%and other targeted stocks have been beaten up recently, but shor","content":"<p>Short-sellers in GameStopGME,-60.00%and other targeted stocks have been beaten up recently, but short-selling may be helping to keep the bull market alive.</p>\n<p>Short-selling, according to academic research, has strong predictive power for the U.S. stock market’s subsequent 12-month return. Right now, short interest is unusually low, says Matthew Ringgenberg, a finance professor at the University of Utah.</p>\n<p>Ringgenberg is a leading expert on the behavior of short sellers. In an interview, he observed: “Even before the recent short squeezes, short interest in December and January was approaching historically low levels. In fact, with the exception of December 2018, this is the lowest short interest has been since before the 2008 crisis.” The data to which he is referring are plotted in the chart below.</p>\n<p>Be wary of contrarian investors who interpret low short interest as bearish. Ringgenberg says the contrarians are wrong; his research has found that the short sellers on balance are more right than not.</p>\n<p>Note carefully that the chart focuses on the raw short interest ratio. As I have reported in prior columns about Ringgenberg’s research, he has found that the predictive power of the ratio can be improved by calculating where it stands relative to its underlying trend. This adjusted ratio, he adds, is even more bullish than the raw unadjusted ratio.</p>\n<p>Note also that the investment horizon for which this adjusted ratio has shown explanatory power is 12 months. So even if the current prediction is spot-on, it tells us nothing about the path the market takes along the way. It could be, for example, that the S&amp;P 500SPX,+1.39%is higher in 12 months while suffering a steep decline along the way. That’s what happened over the past year.</p>\n<p><b>One big caveat</b></p>\n<p>Ringgenberg says that on rare occasions, short sellers are particularly bearish but nevertheless choose not to aggressively sell short. This occurs most typically when investor sentiment is exuberant, the market is volatile, and when certain stocks are trading without any discernible relationship to their underlying fundamentals. During such times, he said, the already-high risks that short sellers face grow to intolerable levels—and many of them retreat to the sidelines.</p>\n<p>I mentioned this phenomenon, referred to as the “limits to arbitrage,” in acolumn last week about the GameStop saga. Perhaps the most prominent historical example of it came at the end of the internet bubble when a number of dot-com companies with no assets, revenue or business plan were propelled to sky-high valuations. The short interest ratio actually declined from 1998 through 2000 despite ever-rising valuations.</p>\n<p>There are some who currently believe we’re in a bubble similar to the late 1990s. If they’re right, then we should not make too much of short sellers’ lack of aggressiveness. Absent that possibility, the message of the short-sale ratio is bullish for the next 12 months.</p>","source":"lsy1603348471595","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Short-sellers were pulling back even before Reddit’s GameStop squeeze</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nShort-sellers were pulling back even before Reddit’s GameStop squeeze\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-02-03 10:46 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.marketwatch.com/story/short-sellers-were-pulling-back-even-before-reddits-gamestop-squeeze-11612233719?mod=home-page><strong>marketwatch</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Short-sellers in GameStopGME,-60.00%and other targeted stocks have been beaten up recently, but short-selling may be helping to keep the bull market alive.\nShort-selling, according to academic ...</p>\n\n<a href=\"https://www.marketwatch.com/story/short-sellers-were-pulling-back-even-before-reddits-gamestop-squeeze-11612233719?mod=home-page\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/9f274618dde80cee69492990094f7510","relate_stocks":{"GME":"游戏驿站"},"source_url":"https://www.marketwatch.com/story/short-sellers-were-pulling-back-even-before-reddits-gamestop-squeeze-11612233719?mod=home-page","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1172237562","content_text":"Short-sellers in GameStopGME,-60.00%and other targeted stocks have been beaten up recently, but short-selling may be helping to keep the bull market alive.\nShort-selling, according to academic research, has strong predictive power for the U.S. stock market’s subsequent 12-month return. Right now, short interest is unusually low, says Matthew Ringgenberg, a finance professor at the University of Utah.\nRinggenberg is a leading expert on the behavior of short sellers. In an interview, he observed: “Even before the recent short squeezes, short interest in December and January was approaching historically low levels. In fact, with the exception of December 2018, this is the lowest short interest has been since before the 2008 crisis.” The data to which he is referring are plotted in the chart below.\nBe wary of contrarian investors who interpret low short interest as bearish. Ringgenberg says the contrarians are wrong; his research has found that the short sellers on balance are more right than not.\nNote carefully that the chart focuses on the raw short interest ratio. As I have reported in prior columns about Ringgenberg’s research, he has found that the predictive power of the ratio can be improved by calculating where it stands relative to its underlying trend. This adjusted ratio, he adds, is even more bullish than the raw unadjusted ratio.\nNote also that the investment horizon for which this adjusted ratio has shown explanatory power is 12 months. So even if the current prediction is spot-on, it tells us nothing about the path the market takes along the way. It could be, for example, that the S&P 500SPX,+1.39%is higher in 12 months while suffering a steep decline along the way. That’s what happened over the past year.\nOne big caveat\nRinggenberg says that on rare occasions, short sellers are particularly bearish but nevertheless choose not to aggressively sell short. This occurs most typically when investor sentiment is exuberant, the market is volatile, and when certain stocks are trading without any discernible relationship to their underlying fundamentals. During such times, he said, the already-high risks that short sellers face grow to intolerable levels—and many of them retreat to the sidelines.\nI mentioned this phenomenon, referred to as the “limits to arbitrage,” in acolumn last week about the GameStop saga. Perhaps the most prominent historical example of it came at the end of the internet bubble when a number of dot-com companies with no assets, revenue or business plan were propelled to sky-high valuations. The short interest ratio actually declined from 1998 through 2000 despite ever-rising valuations.\nThere are some who currently believe we’re in a bubble similar to the late 1990s. If they’re right, then we should not make too much of short sellers’ lack of aggressiveness. Absent that possibility, the message of the short-sale ratio is bullish for the next 12 months.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":3475206,"gmtCreate":1612325808115,"gmtModify":1680775458809,"authorId":3527667803686145,"author":{"id":3527667803686145,"authorId":3527667803686145,"name":"社区成长助手","avatar":"https://static.tigerbbs.com/2b7c7106b5c0c8b0037faa67439d898f","vip":1,"crmLevel":1,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":314171881,"type":1,"supId":0,"prevId":0,"content":"终于等到了您的初发帖[比心][比心]发帖时关联相关股票或者相关话题，可以获得更多曝光哦～如果您想创作优质文章，请查看<a href=\"https://laohu8.com/TW/934879903\">老虎社区创作指引</a>","text":"终于等到了您的初发帖[比心][比心]发帖时关联相关股票或者相关话题，可以获得更多曝光哦～如果您想创作优质文章，请查看<a href=\"https://laohu8.com/TW/934879903\">老虎社区创作指引</a>","html":"终于等到了您的初发帖[比心][比心]发帖时关联相关股票或者相关话题，可以获得更多曝光哦～如果您想创作优质文章，请查看<a href=\"https://laohu8.com/TW/934879903\">老虎社区创作指引</a>"}],"langContent":"EN"},{"id":314141902,"gmtCreate":1612324160006,"gmtModify":1704869736009,"author":{"id":"3550499772816891","authorId":"3550499772816891","authorIdStr":"3550499772816891","name":"Jpeh","avatar":"https://static.tigerbbs.com/4f74e86286be4e7bdaac05ba96b3a697","vip":1,"crmLevel":6,"crmLevelSwitch":1,"idStr":"3550499772816891"},"htmlText":"Interesting&nbsp;","listText":"Interesting&nbsp;","text":"Interesting","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/314141902","repostId":1172237562,"repostType":2,"repost":{"id":"1172237562","pubTimestamp":1612320389,"share":"https://ttm.financial/m/news/1172237562?lang=&edition=fundamental","pubTime":"2021-02-03 10:46","market":"us","language":"en","title":"Short-sellers were pulling back even before Reddit’s GameStop squeeze","url":"https://stock-news.laohu8.com/highlight/detail?id=1172237562","media":"marketwatch","summary":"Short-sellers in GameStopGME,-60.00%and other targeted stocks have been beaten up recently, but shor","content":"<p>Short-sellers in GameStopGME,-60.00%and other targeted stocks have been beaten up recently, but short-selling may be helping to keep the bull market alive.</p>\n<p>Short-selling, according to academic research, has strong predictive power for the U.S. stock market’s subsequent 12-month return. Right now, short interest is unusually low, says Matthew Ringgenberg, a finance professor at the University of Utah.</p>\n<p>Ringgenberg is a leading expert on the behavior of short sellers. In an interview, he observed: “Even before the recent short squeezes, short interest in December and January was approaching historically low levels. In fact, with the exception of December 2018, this is the lowest short interest has been since before the 2008 crisis.” The data to which he is referring are plotted in the chart below.</p>\n<p>Be wary of contrarian investors who interpret low short interest as bearish. Ringgenberg says the contrarians are wrong; his research has found that the short sellers on balance are more right than not.</p>\n<p>Note carefully that the chart focuses on the raw short interest ratio. As I have reported in prior columns about Ringgenberg’s research, he has found that the predictive power of the ratio can be improved by calculating where it stands relative to its underlying trend. This adjusted ratio, he adds, is even more bullish than the raw unadjusted ratio.</p>\n<p>Note also that the investment horizon for which this adjusted ratio has shown explanatory power is 12 months. So even if the current prediction is spot-on, it tells us nothing about the path the market takes along the way. It could be, for example, that the S&amp;P 500SPX,+1.39%is higher in 12 months while suffering a steep decline along the way. That’s what happened over the past year.</p>\n<p><b>One big caveat</b></p>\n<p>Ringgenberg says that on rare occasions, short sellers are particularly bearish but nevertheless choose not to aggressively sell short. This occurs most typically when investor sentiment is exuberant, the market is volatile, and when certain stocks are trading without any discernible relationship to their underlying fundamentals. During such times, he said, the already-high risks that short sellers face grow to intolerable levels—and many of them retreat to the sidelines.</p>\n<p>I mentioned this phenomenon, referred to as the “limits to arbitrage,” in acolumn last week about the GameStop saga. Perhaps the most prominent historical example of it came at the end of the internet bubble when a number of dot-com companies with no assets, revenue or business plan were propelled to sky-high valuations. The short interest ratio actually declined from 1998 through 2000 despite ever-rising valuations.</p>\n<p>There are some who currently believe we’re in a bubble similar to the late 1990s. If they’re right, then we should not make too much of short sellers’ lack of aggressiveness. Absent that possibility, the message of the short-sale ratio is bullish for the next 12 months.</p>","source":"lsy1603348471595","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Short-sellers were pulling back even before Reddit’s GameStop squeeze</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nShort-sellers were pulling back even before Reddit’s GameStop squeeze\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-02-03 10:46 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.marketwatch.com/story/short-sellers-were-pulling-back-even-before-reddits-gamestop-squeeze-11612233719?mod=home-page><strong>marketwatch</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Short-sellers in GameStopGME,-60.00%and other targeted stocks have been beaten up recently, but short-selling may be helping to keep the bull market alive.\nShort-selling, according to academic ...</p>\n\n<a href=\"https://www.marketwatch.com/story/short-sellers-were-pulling-back-even-before-reddits-gamestop-squeeze-11612233719?mod=home-page\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/9f274618dde80cee69492990094f7510","relate_stocks":{"GME":"游戏驿站"},"source_url":"https://www.marketwatch.com/story/short-sellers-were-pulling-back-even-before-reddits-gamestop-squeeze-11612233719?mod=home-page","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1172237562","content_text":"Short-sellers in GameStopGME,-60.00%and other targeted stocks have been beaten up recently, but short-selling may be helping to keep the bull market alive.\nShort-selling, according to academic research, has strong predictive power for the U.S. stock market’s subsequent 12-month return. Right now, short interest is unusually low, says Matthew Ringgenberg, a finance professor at the University of Utah.\nRinggenberg is a leading expert on the behavior of short sellers. In an interview, he observed: “Even before the recent short squeezes, short interest in December and January was approaching historically low levels. In fact, with the exception of December 2018, this is the lowest short interest has been since before the 2008 crisis.” The data to which he is referring are plotted in the chart below.\nBe wary of contrarian investors who interpret low short interest as bearish. Ringgenberg says the contrarians are wrong; his research has found that the short sellers on balance are more right than not.\nNote carefully that the chart focuses on the raw short interest ratio. As I have reported in prior columns about Ringgenberg’s research, he has found that the predictive power of the ratio can be improved by calculating where it stands relative to its underlying trend. This adjusted ratio, he adds, is even more bullish than the raw unadjusted ratio.\nNote also that the investment horizon for which this adjusted ratio has shown explanatory power is 12 months. So even if the current prediction is spot-on, it tells us nothing about the path the market takes along the way. It could be, for example, that the S&P 500SPX,+1.39%is higher in 12 months while suffering a steep decline along the way. That’s what happened over the past year.\nOne big caveat\nRinggenberg says that on rare occasions, short sellers are particularly bearish but nevertheless choose not to aggressively sell short. This occurs most typically when investor sentiment is exuberant, the market is volatile, and when certain stocks are trading without any discernible relationship to their underlying fundamentals. During such times, he said, the already-high risks that short sellers face grow to intolerable levels—and many of them retreat to the sidelines.\nI mentioned this phenomenon, referred to as the “limits to arbitrage,” in acolumn last week about the GameStop saga. Perhaps the most prominent historical example of it came at the end of the internet bubble when a number of dot-com companies with no assets, revenue or business plan were propelled to sky-high valuations. The short interest ratio actually declined from 1998 through 2000 despite ever-rising valuations.\nThere are some who currently believe we’re in a bubble similar to the late 1990s. If they’re right, then we should not make too much of short sellers’ lack of aggressiveness. Absent that possibility, the message of the short-sale ratio is bullish for the next 12 months.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":314143265,"gmtCreate":1612324110957,"gmtModify":1704869735522,"author":{"id":"3550499772816891","authorId":"3550499772816891","authorIdStr":"3550499772816891","name":"Jpeh","avatar":"https://static.tigerbbs.com/4f74e86286be4e7bdaac05ba96b3a697","vip":1,"crmLevel":6,"crmLevelSwitch":1,"idStr":"3550499772816891"},"htmlText":"Interesting","listText":"Interesting","text":"Interesting","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/314143265","repostId":1172237562,"repostType":2,"repost":{"id":"1172237562","pubTimestamp":1612320389,"share":"https://ttm.financial/m/news/1172237562?lang=&edition=fundamental","pubTime":"2021-02-03 10:46","market":"us","language":"en","title":"Short-sellers were pulling back even before Reddit’s GameStop squeeze","url":"https://stock-news.laohu8.com/highlight/detail?id=1172237562","media":"marketwatch","summary":"Short-sellers in GameStopGME,-60.00%and other targeted stocks have been beaten up recently, but shor","content":"<p>Short-sellers in GameStopGME,-60.00%and other targeted stocks have been beaten up recently, but short-selling may be helping to keep the bull market alive.</p>\n<p>Short-selling, according to academic research, has strong predictive power for the U.S. stock market’s subsequent 12-month return. Right now, short interest is unusually low, says Matthew Ringgenberg, a finance professor at the University of Utah.</p>\n<p>Ringgenberg is a leading expert on the behavior of short sellers. In an interview, he observed: “Even before the recent short squeezes, short interest in December and January was approaching historically low levels. In fact, with the exception of December 2018, this is the lowest short interest has been since before the 2008 crisis.” The data to which he is referring are plotted in the chart below.</p>\n<p>Be wary of contrarian investors who interpret low short interest as bearish. Ringgenberg says the contrarians are wrong; his research has found that the short sellers on balance are more right than not.</p>\n<p>Note carefully that the chart focuses on the raw short interest ratio. As I have reported in prior columns about Ringgenberg’s research, he has found that the predictive power of the ratio can be improved by calculating where it stands relative to its underlying trend. This adjusted ratio, he adds, is even more bullish than the raw unadjusted ratio.</p>\n<p>Note also that the investment horizon for which this adjusted ratio has shown explanatory power is 12 months. So even if the current prediction is spot-on, it tells us nothing about the path the market takes along the way. It could be, for example, that the S&amp;P 500SPX,+1.39%is higher in 12 months while suffering a steep decline along the way. That’s what happened over the past year.</p>\n<p><b>One big caveat</b></p>\n<p>Ringgenberg says that on rare occasions, short sellers are particularly bearish but nevertheless choose not to aggressively sell short. This occurs most typically when investor sentiment is exuberant, the market is volatile, and when certain stocks are trading without any discernible relationship to their underlying fundamentals. During such times, he said, the already-high risks that short sellers face grow to intolerable levels—and many of them retreat to the sidelines.</p>\n<p>I mentioned this phenomenon, referred to as the “limits to arbitrage,” in acolumn last week about the GameStop saga. Perhaps the most prominent historical example of it came at the end of the internet bubble when a number of dot-com companies with no assets, revenue or business plan were propelled to sky-high valuations. The short interest ratio actually declined from 1998 through 2000 despite ever-rising valuations.</p>\n<p>There are some who currently believe we’re in a bubble similar to the late 1990s. If they’re right, then we should not make too much of short sellers’ lack of aggressiveness. Absent that possibility, the message of the short-sale ratio is bullish for the next 12 months.</p>","source":"lsy1603348471595","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Short-sellers were pulling back even before Reddit’s GameStop squeeze</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nShort-sellers were pulling back even before Reddit’s GameStop squeeze\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-02-03 10:46 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.marketwatch.com/story/short-sellers-were-pulling-back-even-before-reddits-gamestop-squeeze-11612233719?mod=home-page><strong>marketwatch</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Short-sellers in GameStopGME,-60.00%and other targeted stocks have been beaten up recently, but short-selling may be helping to keep the bull market alive.\nShort-selling, according to academic ...</p>\n\n<a href=\"https://www.marketwatch.com/story/short-sellers-were-pulling-back-even-before-reddits-gamestop-squeeze-11612233719?mod=home-page\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/9f274618dde80cee69492990094f7510","relate_stocks":{"GME":"游戏驿站"},"source_url":"https://www.marketwatch.com/story/short-sellers-were-pulling-back-even-before-reddits-gamestop-squeeze-11612233719?mod=home-page","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1172237562","content_text":"Short-sellers in GameStopGME,-60.00%and other targeted stocks have been beaten up recently, but short-selling may be helping to keep the bull market alive.\nShort-selling, according to academic research, has strong predictive power for the U.S. stock market’s subsequent 12-month return. Right now, short interest is unusually low, says Matthew Ringgenberg, a finance professor at the University of Utah.\nRinggenberg is a leading expert on the behavior of short sellers. In an interview, he observed: “Even before the recent short squeezes, short interest in December and January was approaching historically low levels. In fact, with the exception of December 2018, this is the lowest short interest has been since before the 2008 crisis.” The data to which he is referring are plotted in the chart below.\nBe wary of contrarian investors who interpret low short interest as bearish. Ringgenberg says the contrarians are wrong; his research has found that the short sellers on balance are more right than not.\nNote carefully that the chart focuses on the raw short interest ratio. As I have reported in prior columns about Ringgenberg’s research, he has found that the predictive power of the ratio can be improved by calculating where it stands relative to its underlying trend. This adjusted ratio, he adds, is even more bullish than the raw unadjusted ratio.\nNote also that the investment horizon for which this adjusted ratio has shown explanatory power is 12 months. So even if the current prediction is spot-on, it tells us nothing about the path the market takes along the way. It could be, for example, that the S&P 500SPX,+1.39%is higher in 12 months while suffering a steep decline along the way. That’s what happened over the past year.\nOne big caveat\nRinggenberg says that on rare occasions, short sellers are particularly bearish but nevertheless choose not to aggressively sell short. This occurs most typically when investor sentiment is exuberant, the market is volatile, and when certain stocks are trading without any discernible relationship to their underlying fundamentals. During such times, he said, the already-high risks that short sellers face grow to intolerable levels—and many of them retreat to the sidelines.\nI mentioned this phenomenon, referred to as the “limits to arbitrage,” in acolumn last week about the GameStop saga. Perhaps the most prominent historical example of it came at the end of the internet bubble when a number of dot-com companies with no assets, revenue or business plan were propelled to sky-high valuations. The short interest ratio actually declined from 1998 through 2000 despite ever-rising valuations.\nThere are some who currently believe we’re in a bubble similar to the late 1990s. If they’re right, then we should not make too much of short sellers’ lack of aggressiveness. Absent that possibility, the message of the short-sale ratio is bullish for the next 12 months.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":314151589,"gmtCreate":1612323056141,"gmtModify":1704869721889,"author":{"id":"3569274903458035","authorId":"3569274903458035","authorIdStr":"3569274903458035","name":"HLPA","avatar":"https://static.tigerbbs.com/07e7b987a9127c5a47dbc3ae02db548b","vip":1,"hat":"https://static.tigerbbs.com/646756f1284a5a6480ed02cc4fa7d1d2","crmLevel":8,"crmLevelSwitch":1,"idStr":"3569274903458035"},"htmlText":"Yes hold on","listText":"Yes hold on","text":"Yes hold on","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/314151589","repostId":1172237562,"repostType":2,"repost":{"id":"1172237562","pubTimestamp":1612320389,"share":"https://ttm.financial/m/news/1172237562?lang=&edition=fundamental","pubTime":"2021-02-03 10:46","market":"us","language":"en","title":"Short-sellers were pulling back even before Reddit’s GameStop squeeze","url":"https://stock-news.laohu8.com/highlight/detail?id=1172237562","media":"marketwatch","summary":"Short-sellers in GameStopGME,-60.00%and other targeted stocks have been beaten up recently, but shor","content":"<p>Short-sellers in GameStopGME,-60.00%and other targeted stocks have been beaten up recently, but short-selling may be helping to keep the bull market alive.</p>\n<p>Short-selling, according to academic research, has strong predictive power for the U.S. stock market’s subsequent 12-month return. Right now, short interest is unusually low, says Matthew Ringgenberg, a finance professor at the University of Utah.</p>\n<p>Ringgenberg is a leading expert on the behavior of short sellers. In an interview, he observed: “Even before the recent short squeezes, short interest in December and January was approaching historically low levels. In fact, with the exception of December 2018, this is the lowest short interest has been since before the 2008 crisis.” The data to which he is referring are plotted in the chart below.</p>\n<p>Be wary of contrarian investors who interpret low short interest as bearish. Ringgenberg says the contrarians are wrong; his research has found that the short sellers on balance are more right than not.</p>\n<p>Note carefully that the chart focuses on the raw short interest ratio. As I have reported in prior columns about Ringgenberg’s research, he has found that the predictive power of the ratio can be improved by calculating where it stands relative to its underlying trend. This adjusted ratio, he adds, is even more bullish than the raw unadjusted ratio.</p>\n<p>Note also that the investment horizon for which this adjusted ratio has shown explanatory power is 12 months. So even if the current prediction is spot-on, it tells us nothing about the path the market takes along the way. It could be, for example, that the S&amp;P 500SPX,+1.39%is higher in 12 months while suffering a steep decline along the way. That’s what happened over the past year.</p>\n<p><b>One big caveat</b></p>\n<p>Ringgenberg says that on rare occasions, short sellers are particularly bearish but nevertheless choose not to aggressively sell short. This occurs most typically when investor sentiment is exuberant, the market is volatile, and when certain stocks are trading without any discernible relationship to their underlying fundamentals. During such times, he said, the already-high risks that short sellers face grow to intolerable levels—and many of them retreat to the sidelines.</p>\n<p>I mentioned this phenomenon, referred to as the “limits to arbitrage,” in acolumn last week about the GameStop saga. Perhaps the most prominent historical example of it came at the end of the internet bubble when a number of dot-com companies with no assets, revenue or business plan were propelled to sky-high valuations. The short interest ratio actually declined from 1998 through 2000 despite ever-rising valuations.</p>\n<p>There are some who currently believe we’re in a bubble similar to the late 1990s. If they’re right, then we should not make too much of short sellers’ lack of aggressiveness. Absent that possibility, the message of the short-sale ratio is bullish for the next 12 months.</p>","source":"lsy1603348471595","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Short-sellers were pulling back even before Reddit’s GameStop squeeze</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nShort-sellers were pulling back even before Reddit’s GameStop squeeze\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-02-03 10:46 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.marketwatch.com/story/short-sellers-were-pulling-back-even-before-reddits-gamestop-squeeze-11612233719?mod=home-page><strong>marketwatch</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Short-sellers in GameStopGME,-60.00%and other targeted stocks have been beaten up recently, but short-selling may be helping to keep the bull market alive.\nShort-selling, according to academic ...</p>\n\n<a href=\"https://www.marketwatch.com/story/short-sellers-were-pulling-back-even-before-reddits-gamestop-squeeze-11612233719?mod=home-page\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/9f274618dde80cee69492990094f7510","relate_stocks":{"GME":"游戏驿站"},"source_url":"https://www.marketwatch.com/story/short-sellers-were-pulling-back-even-before-reddits-gamestop-squeeze-11612233719?mod=home-page","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1172237562","content_text":"Short-sellers in GameStopGME,-60.00%and other targeted stocks have been beaten up recently, but short-selling may be helping to keep the bull market alive.\nShort-selling, according to academic research, has strong predictive power for the U.S. stock market’s subsequent 12-month return. Right now, short interest is unusually low, says Matthew Ringgenberg, a finance professor at the University of Utah.\nRinggenberg is a leading expert on the behavior of short sellers. In an interview, he observed: “Even before the recent short squeezes, short interest in December and January was approaching historically low levels. In fact, with the exception of December 2018, this is the lowest short interest has been since before the 2008 crisis.” The data to which he is referring are plotted in the chart below.\nBe wary of contrarian investors who interpret low short interest as bearish. Ringgenberg says the contrarians are wrong; his research has found that the short sellers on balance are more right than not.\nNote carefully that the chart focuses on the raw short interest ratio. As I have reported in prior columns about Ringgenberg’s research, he has found that the predictive power of the ratio can be improved by calculating where it stands relative to its underlying trend. This adjusted ratio, he adds, is even more bullish than the raw unadjusted ratio.\nNote also that the investment horizon for which this adjusted ratio has shown explanatory power is 12 months. So even if the current prediction is spot-on, it tells us nothing about the path the market takes along the way. It could be, for example, that the S&P 500SPX,+1.39%is higher in 12 months while suffering a steep decline along the way. That’s what happened over the past year.\nOne big caveat\nRinggenberg says that on rare occasions, short sellers are particularly bearish but nevertheless choose not to aggressively sell short. This occurs most typically when investor sentiment is exuberant, the market is volatile, and when certain stocks are trading without any discernible relationship to their underlying fundamentals. During such times, he said, the already-high risks that short sellers face grow to intolerable levels—and many of them retreat to the sidelines.\nI mentioned this phenomenon, referred to as the “limits to arbitrage,” in acolumn last week about the GameStop saga. Perhaps the most prominent historical example of it came at the end of the internet bubble when a number of dot-com companies with no assets, revenue or business plan were propelled to sky-high valuations. The short interest ratio actually declined from 1998 through 2000 despite ever-rising valuations.\nThere are some who currently believe we’re in a bubble similar to the late 1990s. If they’re right, then we should not make too much of short sellers’ lack of aggressiveness. Absent that possibility, the message of the short-sale ratio is bullish for the next 12 months.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":314124687,"gmtCreate":1612322438449,"gmtModify":1704869715247,"author":{"id":"3574854132255610","authorId":"3574854132255610","authorIdStr":"3574854132255610","name":"Liionel","avatar":"https://static.tigerbbs.com/a464a3be8fd43c16b52d559dc5306110","vip":1,"crmLevel":3,"crmLevelSwitch":0,"idStr":"3574854132255610"},"htmlText":"Hold! And here for coins.&nbsp;","listText":"Hold! And here for coins.&nbsp;","text":"Hold! And here for coins.","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/314124687","repostId":1172237562,"repostType":4,"repost":{"id":"1172237562","pubTimestamp":1612320389,"share":"https://ttm.financial/m/news/1172237562?lang=&edition=fundamental","pubTime":"2021-02-03 10:46","market":"us","language":"en","title":"Short-sellers were pulling back even before Reddit’s GameStop squeeze","url":"https://stock-news.laohu8.com/highlight/detail?id=1172237562","media":"marketwatch","summary":"Short-sellers in GameStopGME,-60.00%and other targeted stocks have been beaten up recently, but shor","content":"<p>Short-sellers in GameStopGME,-60.00%and other targeted stocks have been beaten up recently, but short-selling may be helping to keep the bull market alive.</p>\n<p>Short-selling, according to academic research, has strong predictive power for the U.S. stock market’s subsequent 12-month return. Right now, short interest is unusually low, says Matthew Ringgenberg, a finance professor at the University of Utah.</p>\n<p>Ringgenberg is a leading expert on the behavior of short sellers. In an interview, he observed: “Even before the recent short squeezes, short interest in December and January was approaching historically low levels. In fact, with the exception of December 2018, this is the lowest short interest has been since before the 2008 crisis.” The data to which he is referring are plotted in the chart below.</p>\n<p>Be wary of contrarian investors who interpret low short interest as bearish. Ringgenberg says the contrarians are wrong; his research has found that the short sellers on balance are more right than not.</p>\n<p>Note carefully that the chart focuses on the raw short interest ratio. As I have reported in prior columns about Ringgenberg’s research, he has found that the predictive power of the ratio can be improved by calculating where it stands relative to its underlying trend. This adjusted ratio, he adds, is even more bullish than the raw unadjusted ratio.</p>\n<p>Note also that the investment horizon for which this adjusted ratio has shown explanatory power is 12 months. So even if the current prediction is spot-on, it tells us nothing about the path the market takes along the way. It could be, for example, that the S&amp;P 500SPX,+1.39%is higher in 12 months while suffering a steep decline along the way. That’s what happened over the past year.</p>\n<p><b>One big caveat</b></p>\n<p>Ringgenberg says that on rare occasions, short sellers are particularly bearish but nevertheless choose not to aggressively sell short. This occurs most typically when investor sentiment is exuberant, the market is volatile, and when certain stocks are trading without any discernible relationship to their underlying fundamentals. During such times, he said, the already-high risks that short sellers face grow to intolerable levels—and many of them retreat to the sidelines.</p>\n<p>I mentioned this phenomenon, referred to as the “limits to arbitrage,” in acolumn last week about the GameStop saga. Perhaps the most prominent historical example of it came at the end of the internet bubble when a number of dot-com companies with no assets, revenue or business plan were propelled to sky-high valuations. The short interest ratio actually declined from 1998 through 2000 despite ever-rising valuations.</p>\n<p>There are some who currently believe we’re in a bubble similar to the late 1990s. If they’re right, then we should not make too much of short sellers’ lack of aggressiveness. Absent that possibility, the message of the short-sale ratio is bullish for the next 12 months.</p>","source":"lsy1603348471595","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Short-sellers were pulling back even before Reddit’s GameStop squeeze</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nShort-sellers were pulling back even before Reddit’s GameStop squeeze\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-02-03 10:46 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.marketwatch.com/story/short-sellers-were-pulling-back-even-before-reddits-gamestop-squeeze-11612233719?mod=home-page><strong>marketwatch</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Short-sellers in GameStopGME,-60.00%and other targeted stocks have been beaten up recently, but short-selling may be helping to keep the bull market alive.\nShort-selling, according to academic ...</p>\n\n<a href=\"https://www.marketwatch.com/story/short-sellers-were-pulling-back-even-before-reddits-gamestop-squeeze-11612233719?mod=home-page\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/9f274618dde80cee69492990094f7510","relate_stocks":{"GME":"游戏驿站"},"source_url":"https://www.marketwatch.com/story/short-sellers-were-pulling-back-even-before-reddits-gamestop-squeeze-11612233719?mod=home-page","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1172237562","content_text":"Short-sellers in GameStopGME,-60.00%and other targeted stocks have been beaten up recently, but short-selling may be helping to keep the bull market alive.\nShort-selling, according to academic research, has strong predictive power for the U.S. stock market’s subsequent 12-month return. Right now, short interest is unusually low, says Matthew Ringgenberg, a finance professor at the University of Utah.\nRinggenberg is a leading expert on the behavior of short sellers. In an interview, he observed: “Even before the recent short squeezes, short interest in December and January was approaching historically low levels. In fact, with the exception of December 2018, this is the lowest short interest has been since before the 2008 crisis.” The data to which he is referring are plotted in the chart below.\nBe wary of contrarian investors who interpret low short interest as bearish. Ringgenberg says the contrarians are wrong; his research has found that the short sellers on balance are more right than not.\nNote carefully that the chart focuses on the raw short interest ratio. As I have reported in prior columns about Ringgenberg’s research, he has found that the predictive power of the ratio can be improved by calculating where it stands relative to its underlying trend. This adjusted ratio, he adds, is even more bullish than the raw unadjusted ratio.\nNote also that the investment horizon for which this adjusted ratio has shown explanatory power is 12 months. So even if the current prediction is spot-on, it tells us nothing about the path the market takes along the way. It could be, for example, that the S&P 500SPX,+1.39%is higher in 12 months while suffering a steep decline along the way. That’s what happened over the past year.\nOne big caveat\nRinggenberg says that on rare occasions, short sellers are particularly bearish but nevertheless choose not to aggressively sell short. This occurs most typically when investor sentiment is exuberant, the market is volatile, and when certain stocks are trading without any discernible relationship to their underlying fundamentals. During such times, he said, the already-high risks that short sellers face grow to intolerable levels—and many of them retreat to the sidelines.\nI mentioned this phenomenon, referred to as the “limits to arbitrage,” in acolumn last week about the GameStop saga. Perhaps the most prominent historical example of it came at the end of the internet bubble when a number of dot-com companies with no assets, revenue or business plan were propelled to sky-high valuations. The short interest ratio actually declined from 1998 through 2000 despite ever-rising valuations.\nThere are some who currently believe we’re in a bubble similar to the late 1990s. If they’re right, then we should not make too much of short sellers’ lack of aggressiveness. Absent that possibility, the message of the short-sale ratio is bullish for the next 12 months.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":314125207,"gmtCreate":1612322243909,"gmtModify":1704869714277,"author":{"id":"3572305441240915","authorId":"3572305441240915","authorIdStr":"3572305441240915","name":"LongZR","avatar":"https://static.tigerbbs.com/80b6c7bb6866455f69d500fddb520c7e","vip":1,"hat":"https://static.tigerbbs.com/4c5ceab71416b120bab4604c0754b52a","crmLevel":5,"crmLevelSwitch":0,"idStr":"3572305441240915"},"htmlText":"Hold hold","listText":"Hold hold","text":"Hold hold","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/314125207","repostId":1172237562,"repostType":4,"repost":{"id":"1172237562","pubTimestamp":1612320389,"share":"https://ttm.financial/m/news/1172237562?lang=&edition=fundamental","pubTime":"2021-02-03 10:46","market":"us","language":"en","title":"Short-sellers were pulling back even before Reddit’s GameStop squeeze","url":"https://stock-news.laohu8.com/highlight/detail?id=1172237562","media":"marketwatch","summary":"Short-sellers in GameStopGME,-60.00%and other targeted stocks have been beaten up recently, but shor","content":"<p>Short-sellers in GameStopGME,-60.00%and other targeted stocks have been beaten up recently, but short-selling may be helping to keep the bull market alive.</p>\n<p>Short-selling, according to academic research, has strong predictive power for the U.S. stock market’s subsequent 12-month return. Right now, short interest is unusually low, says Matthew Ringgenberg, a finance professor at the University of Utah.</p>\n<p>Ringgenberg is a leading expert on the behavior of short sellers. In an interview, he observed: “Even before the recent short squeezes, short interest in December and January was approaching historically low levels. In fact, with the exception of December 2018, this is the lowest short interest has been since before the 2008 crisis.” The data to which he is referring are plotted in the chart below.</p>\n<p>Be wary of contrarian investors who interpret low short interest as bearish. Ringgenberg says the contrarians are wrong; his research has found that the short sellers on balance are more right than not.</p>\n<p>Note carefully that the chart focuses on the raw short interest ratio. As I have reported in prior columns about Ringgenberg’s research, he has found that the predictive power of the ratio can be improved by calculating where it stands relative to its underlying trend. This adjusted ratio, he adds, is even more bullish than the raw unadjusted ratio.</p>\n<p>Note also that the investment horizon for which this adjusted ratio has shown explanatory power is 12 months. So even if the current prediction is spot-on, it tells us nothing about the path the market takes along the way. It could be, for example, that the S&amp;P 500SPX,+1.39%is higher in 12 months while suffering a steep decline along the way. That’s what happened over the past year.</p>\n<p><b>One big caveat</b></p>\n<p>Ringgenberg says that on rare occasions, short sellers are particularly bearish but nevertheless choose not to aggressively sell short. This occurs most typically when investor sentiment is exuberant, the market is volatile, and when certain stocks are trading without any discernible relationship to their underlying fundamentals. During such times, he said, the already-high risks that short sellers face grow to intolerable levels—and many of them retreat to the sidelines.</p>\n<p>I mentioned this phenomenon, referred to as the “limits to arbitrage,” in acolumn last week about the GameStop saga. Perhaps the most prominent historical example of it came at the end of the internet bubble when a number of dot-com companies with no assets, revenue or business plan were propelled to sky-high valuations. The short interest ratio actually declined from 1998 through 2000 despite ever-rising valuations.</p>\n<p>There are some who currently believe we’re in a bubble similar to the late 1990s. If they’re right, then we should not make too much of short sellers’ lack of aggressiveness. Absent that possibility, the message of the short-sale ratio is bullish for the next 12 months.</p>","source":"lsy1603348471595","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Short-sellers were pulling back even before Reddit’s GameStop squeeze</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nShort-sellers were pulling back even before Reddit’s GameStop squeeze\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-02-03 10:46 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.marketwatch.com/story/short-sellers-were-pulling-back-even-before-reddits-gamestop-squeeze-11612233719?mod=home-page><strong>marketwatch</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Short-sellers in GameStopGME,-60.00%and other targeted stocks have been beaten up recently, but short-selling may be helping to keep the bull market alive.\nShort-selling, according to academic ...</p>\n\n<a href=\"https://www.marketwatch.com/story/short-sellers-were-pulling-back-even-before-reddits-gamestop-squeeze-11612233719?mod=home-page\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/9f274618dde80cee69492990094f7510","relate_stocks":{"GME":"游戏驿站"},"source_url":"https://www.marketwatch.com/story/short-sellers-were-pulling-back-even-before-reddits-gamestop-squeeze-11612233719?mod=home-page","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1172237562","content_text":"Short-sellers in GameStopGME,-60.00%and other targeted stocks have been beaten up recently, but short-selling may be helping to keep the bull market alive.\nShort-selling, according to academic research, has strong predictive power for the U.S. stock market’s subsequent 12-month return. Right now, short interest is unusually low, says Matthew Ringgenberg, a finance professor at the University of Utah.\nRinggenberg is a leading expert on the behavior of short sellers. In an interview, he observed: “Even before the recent short squeezes, short interest in December and January was approaching historically low levels. In fact, with the exception of December 2018, this is the lowest short interest has been since before the 2008 crisis.” The data to which he is referring are plotted in the chart below.\nBe wary of contrarian investors who interpret low short interest as bearish. Ringgenberg says the contrarians are wrong; his research has found that the short sellers on balance are more right than not.\nNote carefully that the chart focuses on the raw short interest ratio. As I have reported in prior columns about Ringgenberg’s research, he has found that the predictive power of the ratio can be improved by calculating where it stands relative to its underlying trend. This adjusted ratio, he adds, is even more bullish than the raw unadjusted ratio.\nNote also that the investment horizon for which this adjusted ratio has shown explanatory power is 12 months. So even if the current prediction is spot-on, it tells us nothing about the path the market takes along the way. It could be, for example, that the S&P 500SPX,+1.39%is higher in 12 months while suffering a steep decline along the way. That’s what happened over the past year.\nOne big caveat\nRinggenberg says that on rare occasions, short sellers are particularly bearish but nevertheless choose not to aggressively sell short. This occurs most typically when investor sentiment is exuberant, the market is volatile, and when certain stocks are trading without any discernible relationship to their underlying fundamentals. During such times, he said, the already-high risks that short sellers face grow to intolerable levels—and many of them retreat to the sidelines.\nI mentioned this phenomenon, referred to as the “limits to arbitrage,” in acolumn last week about the GameStop saga. Perhaps the most prominent historical example of it came at the end of the internet bubble when a number of dot-com companies with no assets, revenue or business plan were propelled to sky-high valuations. The short interest ratio actually declined from 1998 through 2000 despite ever-rising valuations.\nThere are some who currently believe we’re in a bubble similar to the late 1990s. If they’re right, then we should not make too much of short sellers’ lack of aggressiveness. Absent that possibility, the message of the short-sale ratio is bullish for the next 12 months.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":314128042,"gmtCreate":1612321774886,"gmtModify":1704869709580,"author":{"id":"3559283513621894","authorId":"3559283513621894","authorIdStr":"3559283513621894","name":"Sap","avatar":"https://static.tigerbbs.com/2a00e2718679bd499f27764a78342e5c","vip":1,"crmLevel":8,"crmLevelSwitch":1,"idStr":"3559283513621894"},"htmlText":"Lol","listText":"Lol","text":"Lol","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/314128042","repostId":1172237562,"repostType":4,"repost":{"id":"1172237562","pubTimestamp":1612320389,"share":"https://ttm.financial/m/news/1172237562?lang=&edition=fundamental","pubTime":"2021-02-03 10:46","market":"us","language":"en","title":"Short-sellers were pulling back even before Reddit’s GameStop squeeze","url":"https://stock-news.laohu8.com/highlight/detail?id=1172237562","media":"marketwatch","summary":"Short-sellers in GameStopGME,-60.00%and other targeted stocks have been beaten up recently, but shor","content":"<p>Short-sellers in GameStopGME,-60.00%and other targeted stocks have been beaten up recently, but short-selling may be helping to keep the bull market alive.</p>\n<p>Short-selling, according to academic research, has strong predictive power for the U.S. stock market’s subsequent 12-month return. Right now, short interest is unusually low, says Matthew Ringgenberg, a finance professor at the University of Utah.</p>\n<p>Ringgenberg is a leading expert on the behavior of short sellers. In an interview, he observed: “Even before the recent short squeezes, short interest in December and January was approaching historically low levels. In fact, with the exception of December 2018, this is the lowest short interest has been since before the 2008 crisis.” The data to which he is referring are plotted in the chart below.</p>\n<p>Be wary of contrarian investors who interpret low short interest as bearish. Ringgenberg says the contrarians are wrong; his research has found that the short sellers on balance are more right than not.</p>\n<p>Note carefully that the chart focuses on the raw short interest ratio. As I have reported in prior columns about Ringgenberg’s research, he has found that the predictive power of the ratio can be improved by calculating where it stands relative to its underlying trend. This adjusted ratio, he adds, is even more bullish than the raw unadjusted ratio.</p>\n<p>Note also that the investment horizon for which this adjusted ratio has shown explanatory power is 12 months. So even if the current prediction is spot-on, it tells us nothing about the path the market takes along the way. It could be, for example, that the S&amp;P 500SPX,+1.39%is higher in 12 months while suffering a steep decline along the way. That’s what happened over the past year.</p>\n<p><b>One big caveat</b></p>\n<p>Ringgenberg says that on rare occasions, short sellers are particularly bearish but nevertheless choose not to aggressively sell short. This occurs most typically when investor sentiment is exuberant, the market is volatile, and when certain stocks are trading without any discernible relationship to their underlying fundamentals. During such times, he said, the already-high risks that short sellers face grow to intolerable levels—and many of them retreat to the sidelines.</p>\n<p>I mentioned this phenomenon, referred to as the “limits to arbitrage,” in acolumn last week about the GameStop saga. Perhaps the most prominent historical example of it came at the end of the internet bubble when a number of dot-com companies with no assets, revenue or business plan were propelled to sky-high valuations. The short interest ratio actually declined from 1998 through 2000 despite ever-rising valuations.</p>\n<p>There are some who currently believe we’re in a bubble similar to the late 1990s. If they’re right, then we should not make too much of short sellers’ lack of aggressiveness. Absent that possibility, the message of the short-sale ratio is bullish for the next 12 months.</p>","source":"lsy1603348471595","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Short-sellers were pulling back even before Reddit’s GameStop squeeze</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nShort-sellers were pulling back even before Reddit’s GameStop squeeze\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-02-03 10:46 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.marketwatch.com/story/short-sellers-were-pulling-back-even-before-reddits-gamestop-squeeze-11612233719?mod=home-page><strong>marketwatch</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Short-sellers in GameStopGME,-60.00%and other targeted stocks have been beaten up recently, but short-selling may be helping to keep the bull market alive.\nShort-selling, according to academic ...</p>\n\n<a href=\"https://www.marketwatch.com/story/short-sellers-were-pulling-back-even-before-reddits-gamestop-squeeze-11612233719?mod=home-page\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/9f274618dde80cee69492990094f7510","relate_stocks":{"GME":"游戏驿站"},"source_url":"https://www.marketwatch.com/story/short-sellers-were-pulling-back-even-before-reddits-gamestop-squeeze-11612233719?mod=home-page","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1172237562","content_text":"Short-sellers in GameStopGME,-60.00%and other targeted stocks have been beaten up recently, but short-selling may be helping to keep the bull market alive.\nShort-selling, according to academic research, has strong predictive power for the U.S. stock market’s subsequent 12-month return. Right now, short interest is unusually low, says Matthew Ringgenberg, a finance professor at the University of Utah.\nRinggenberg is a leading expert on the behavior of short sellers. In an interview, he observed: “Even before the recent short squeezes, short interest in December and January was approaching historically low levels. In fact, with the exception of December 2018, this is the lowest short interest has been since before the 2008 crisis.” The data to which he is referring are plotted in the chart below.\nBe wary of contrarian investors who interpret low short interest as bearish. Ringgenberg says the contrarians are wrong; his research has found that the short sellers on balance are more right than not.\nNote carefully that the chart focuses on the raw short interest ratio. As I have reported in prior columns about Ringgenberg’s research, he has found that the predictive power of the ratio can be improved by calculating where it stands relative to its underlying trend. This adjusted ratio, he adds, is even more bullish than the raw unadjusted ratio.\nNote also that the investment horizon for which this adjusted ratio has shown explanatory power is 12 months. So even if the current prediction is spot-on, it tells us nothing about the path the market takes along the way. It could be, for example, that the S&P 500SPX,+1.39%is higher in 12 months while suffering a steep decline along the way. That’s what happened over the past year.\nOne big caveat\nRinggenberg says that on rare occasions, short sellers are particularly bearish but nevertheless choose not to aggressively sell short. This occurs most typically when investor sentiment is exuberant, the market is volatile, and when certain stocks are trading without any discernible relationship to their underlying fundamentals. During such times, he said, the already-high risks that short sellers face grow to intolerable levels—and many of them retreat to the sidelines.\nI mentioned this phenomenon, referred to as the “limits to arbitrage,” in acolumn last week about the GameStop saga. Perhaps the most prominent historical example of it came at the end of the internet bubble when a number of dot-com companies with no assets, revenue or business plan were propelled to sky-high valuations. The short interest ratio actually declined from 1998 through 2000 despite ever-rising valuations.\nThere are some who currently believe we’re in a bubble similar to the late 1990s. If they’re right, then we should not make too much of short sellers’ lack of aggressiveness. Absent that possibility, the message of the short-sale ratio is bullish for the next 12 months.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":314123094,"gmtCreate":1612321570618,"gmtModify":1704869706504,"author":{"id":"3558581504257803","authorId":"3558581504257803","authorIdStr":"3558581504257803","name":"Kelvinyoon26","avatar":"https://static.tigerbbs.com/17c18f026fcaa77f437cb20f39e1b4ef","vip":1,"crmLevel":4,"crmLevelSwitch":0,"idStr":"3558581504257803"},"htmlText":"Like&nbsp;","listText":"Like&nbsp;","text":"Like","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/314123094","repostId":1172237562,"repostType":4,"repost":{"id":"1172237562","pubTimestamp":1612320389,"share":"https://ttm.financial/m/news/1172237562?lang=&edition=fundamental","pubTime":"2021-02-03 10:46","market":"us","language":"en","title":"Short-sellers were pulling back even before Reddit’s GameStop squeeze","url":"https://stock-news.laohu8.com/highlight/detail?id=1172237562","media":"marketwatch","summary":"Short-sellers in GameStopGME,-60.00%and other targeted stocks have been beaten up recently, but shor","content":"<p>Short-sellers in GameStopGME,-60.00%and other targeted stocks have been beaten up recently, but short-selling may be helping to keep the bull market alive.</p>\n<p>Short-selling, according to academic research, has strong predictive power for the U.S. stock market’s subsequent 12-month return. Right now, short interest is unusually low, says Matthew Ringgenberg, a finance professor at the University of Utah.</p>\n<p>Ringgenberg is a leading expert on the behavior of short sellers. In an interview, he observed: “Even before the recent short squeezes, short interest in December and January was approaching historically low levels. In fact, with the exception of December 2018, this is the lowest short interest has been since before the 2008 crisis.” The data to which he is referring are plotted in the chart below.</p>\n<p>Be wary of contrarian investors who interpret low short interest as bearish. Ringgenberg says the contrarians are wrong; his research has found that the short sellers on balance are more right than not.</p>\n<p>Note carefully that the chart focuses on the raw short interest ratio. As I have reported in prior columns about Ringgenberg’s research, he has found that the predictive power of the ratio can be improved by calculating where it stands relative to its underlying trend. This adjusted ratio, he adds, is even more bullish than the raw unadjusted ratio.</p>\n<p>Note also that the investment horizon for which this adjusted ratio has shown explanatory power is 12 months. So even if the current prediction is spot-on, it tells us nothing about the path the market takes along the way. It could be, for example, that the S&amp;P 500SPX,+1.39%is higher in 12 months while suffering a steep decline along the way. That’s what happened over the past year.</p>\n<p><b>One big caveat</b></p>\n<p>Ringgenberg says that on rare occasions, short sellers are particularly bearish but nevertheless choose not to aggressively sell short. This occurs most typically when investor sentiment is exuberant, the market is volatile, and when certain stocks are trading without any discernible relationship to their underlying fundamentals. During such times, he said, the already-high risks that short sellers face grow to intolerable levels—and many of them retreat to the sidelines.</p>\n<p>I mentioned this phenomenon, referred to as the “limits to arbitrage,” in acolumn last week about the GameStop saga. Perhaps the most prominent historical example of it came at the end of the internet bubble when a number of dot-com companies with no assets, revenue or business plan were propelled to sky-high valuations. The short interest ratio actually declined from 1998 through 2000 despite ever-rising valuations.</p>\n<p>There are some who currently believe we’re in a bubble similar to the late 1990s. If they’re right, then we should not make too much of short sellers’ lack of aggressiveness. Absent that possibility, the message of the short-sale ratio is bullish for the next 12 months.</p>","source":"lsy1603348471595","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Short-sellers were pulling back even before Reddit’s GameStop squeeze</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nShort-sellers were pulling back even before Reddit’s GameStop squeeze\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-02-03 10:46 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.marketwatch.com/story/short-sellers-were-pulling-back-even-before-reddits-gamestop-squeeze-11612233719?mod=home-page><strong>marketwatch</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Short-sellers in GameStopGME,-60.00%and other targeted stocks have been beaten up recently, but short-selling may be helping to keep the bull market alive.\nShort-selling, according to academic ...</p>\n\n<a href=\"https://www.marketwatch.com/story/short-sellers-were-pulling-back-even-before-reddits-gamestop-squeeze-11612233719?mod=home-page\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/9f274618dde80cee69492990094f7510","relate_stocks":{"GME":"游戏驿站"},"source_url":"https://www.marketwatch.com/story/short-sellers-were-pulling-back-even-before-reddits-gamestop-squeeze-11612233719?mod=home-page","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1172237562","content_text":"Short-sellers in GameStopGME,-60.00%and other targeted stocks have been beaten up recently, but short-selling may be helping to keep the bull market alive.\nShort-selling, according to academic research, has strong predictive power for the U.S. stock market’s subsequent 12-month return. Right now, short interest is unusually low, says Matthew Ringgenberg, a finance professor at the University of Utah.\nRinggenberg is a leading expert on the behavior of short sellers. In an interview, he observed: “Even before the recent short squeezes, short interest in December and January was approaching historically low levels. In fact, with the exception of December 2018, this is the lowest short interest has been since before the 2008 crisis.” The data to which he is referring are plotted in the chart below.\nBe wary of contrarian investors who interpret low short interest as bearish. Ringgenberg says the contrarians are wrong; his research has found that the short sellers on balance are more right than not.\nNote carefully that the chart focuses on the raw short interest ratio. As I have reported in prior columns about Ringgenberg’s research, he has found that the predictive power of the ratio can be improved by calculating where it stands relative to its underlying trend. This adjusted ratio, he adds, is even more bullish than the raw unadjusted ratio.\nNote also that the investment horizon for which this adjusted ratio has shown explanatory power is 12 months. So even if the current prediction is spot-on, it tells us nothing about the path the market takes along the way. It could be, for example, that the S&P 500SPX,+1.39%is higher in 12 months while suffering a steep decline along the way. That’s what happened over the past year.\nOne big caveat\nRinggenberg says that on rare occasions, short sellers are particularly bearish but nevertheless choose not to aggressively sell short. This occurs most typically when investor sentiment is exuberant, the market is volatile, and when certain stocks are trading without any discernible relationship to their underlying fundamentals. During such times, he said, the already-high risks that short sellers face grow to intolerable levels—and many of them retreat to the sidelines.\nI mentioned this phenomenon, referred to as the “limits to arbitrage,” in acolumn last week about the GameStop saga. Perhaps the most prominent historical example of it came at the end of the internet bubble when a number of dot-com companies with no assets, revenue or business plan were propelled to sky-high valuations. The short interest ratio actually declined from 1998 through 2000 despite ever-rising valuations.\nThere are some who currently believe we’re in a bubble similar to the late 1990s. If they’re right, then we should not make too much of short sellers’ lack of aggressiveness. Absent that possibility, the message of the short-sale ratio is bullish for the next 12 months.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":314166394,"gmtCreate":1612320759118,"gmtModify":1704869698015,"author":{"id":"3570654056264733","authorId":"3570654056264733","authorIdStr":"3570654056264733","name":"JTE","avatar":"https://static.tigerbbs.com/03e6cacf7bf56246b33ac7dbd30171a1","vip":1,"crmLevel":2,"crmLevelSwitch":0,"idStr":"3570654056264733"},"htmlText":"Running","listText":"Running","text":"Running","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":2,"repostSize":0,"link":"https://ttm.financial/post/314166394","repostId":1172237562,"repostType":4,"repost":{"id":"1172237562","pubTimestamp":1612320389,"share":"https://ttm.financial/m/news/1172237562?lang=&edition=fundamental","pubTime":"2021-02-03 10:46","market":"us","language":"en","title":"Short-sellers were pulling back even before Reddit’s GameStop squeeze","url":"https://stock-news.laohu8.com/highlight/detail?id=1172237562","media":"marketwatch","summary":"Short-sellers in GameStopGME,-60.00%and other targeted stocks have been beaten up recently, but shor","content":"<p>Short-sellers in GameStopGME,-60.00%and other targeted stocks have been beaten up recently, but short-selling may be helping to keep the bull market alive.</p>\n<p>Short-selling, according to academic research, has strong predictive power for the U.S. stock market’s subsequent 12-month return. Right now, short interest is unusually low, says Matthew Ringgenberg, a finance professor at the University of Utah.</p>\n<p>Ringgenberg is a leading expert on the behavior of short sellers. In an interview, he observed: “Even before the recent short squeezes, short interest in December and January was approaching historically low levels. In fact, with the exception of December 2018, this is the lowest short interest has been since before the 2008 crisis.” The data to which he is referring are plotted in the chart below.</p>\n<p>Be wary of contrarian investors who interpret low short interest as bearish. Ringgenberg says the contrarians are wrong; his research has found that the short sellers on balance are more right than not.</p>\n<p>Note carefully that the chart focuses on the raw short interest ratio. As I have reported in prior columns about Ringgenberg’s research, he has found that the predictive power of the ratio can be improved by calculating where it stands relative to its underlying trend. This adjusted ratio, he adds, is even more bullish than the raw unadjusted ratio.</p>\n<p>Note also that the investment horizon for which this adjusted ratio has shown explanatory power is 12 months. So even if the current prediction is spot-on, it tells us nothing about the path the market takes along the way. It could be, for example, that the S&amp;P 500SPX,+1.39%is higher in 12 months while suffering a steep decline along the way. That’s what happened over the past year.</p>\n<p><b>One big caveat</b></p>\n<p>Ringgenberg says that on rare occasions, short sellers are particularly bearish but nevertheless choose not to aggressively sell short. This occurs most typically when investor sentiment is exuberant, the market is volatile, and when certain stocks are trading without any discernible relationship to their underlying fundamentals. During such times, he said, the already-high risks that short sellers face grow to intolerable levels—and many of them retreat to the sidelines.</p>\n<p>I mentioned this phenomenon, referred to as the “limits to arbitrage,” in acolumn last week about the GameStop saga. Perhaps the most prominent historical example of it came at the end of the internet bubble when a number of dot-com companies with no assets, revenue or business plan were propelled to sky-high valuations. The short interest ratio actually declined from 1998 through 2000 despite ever-rising valuations.</p>\n<p>There are some who currently believe we’re in a bubble similar to the late 1990s. If they’re right, then we should not make too much of short sellers’ lack of aggressiveness. Absent that possibility, the message of the short-sale ratio is bullish for the next 12 months.</p>","source":"lsy1603348471595","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Short-sellers were pulling back even before Reddit’s GameStop squeeze</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nShort-sellers were pulling back even before Reddit’s GameStop squeeze\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-02-03 10:46 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.marketwatch.com/story/short-sellers-were-pulling-back-even-before-reddits-gamestop-squeeze-11612233719?mod=home-page><strong>marketwatch</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Short-sellers in GameStopGME,-60.00%and other targeted stocks have been beaten up recently, but short-selling may be helping to keep the bull market alive.\nShort-selling, according to academic ...</p>\n\n<a href=\"https://www.marketwatch.com/story/short-sellers-were-pulling-back-even-before-reddits-gamestop-squeeze-11612233719?mod=home-page\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/9f274618dde80cee69492990094f7510","relate_stocks":{"GME":"游戏驿站"},"source_url":"https://www.marketwatch.com/story/short-sellers-were-pulling-back-even-before-reddits-gamestop-squeeze-11612233719?mod=home-page","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1172237562","content_text":"Short-sellers in GameStopGME,-60.00%and other targeted stocks have been beaten up recently, but short-selling may be helping to keep the bull market alive.\nShort-selling, according to academic research, has strong predictive power for the U.S. stock market’s subsequent 12-month return. Right now, short interest is unusually low, says Matthew Ringgenberg, a finance professor at the University of Utah.\nRinggenberg is a leading expert on the behavior of short sellers. In an interview, he observed: “Even before the recent short squeezes, short interest in December and January was approaching historically low levels. In fact, with the exception of December 2018, this is the lowest short interest has been since before the 2008 crisis.” The data to which he is referring are plotted in the chart below.\nBe wary of contrarian investors who interpret low short interest as bearish. Ringgenberg says the contrarians are wrong; his research has found that the short sellers on balance are more right than not.\nNote carefully that the chart focuses on the raw short interest ratio. As I have reported in prior columns about Ringgenberg’s research, he has found that the predictive power of the ratio can be improved by calculating where it stands relative to its underlying trend. This adjusted ratio, he adds, is even more bullish than the raw unadjusted ratio.\nNote also that the investment horizon for which this adjusted ratio has shown explanatory power is 12 months. So even if the current prediction is spot-on, it tells us nothing about the path the market takes along the way. It could be, for example, that the S&P 500SPX,+1.39%is higher in 12 months while suffering a steep decline along the way. That’s what happened over the past year.\nOne big caveat\nRinggenberg says that on rare occasions, short sellers are particularly bearish but nevertheless choose not to aggressively sell short. This occurs most typically when investor sentiment is exuberant, the market is volatile, and when certain stocks are trading without any discernible relationship to their underlying fundamentals. During such times, he said, the already-high risks that short sellers face grow to intolerable levels—and many of them retreat to the sidelines.\nI mentioned this phenomenon, referred to as the “limits to arbitrage,” in acolumn last week about the GameStop saga. Perhaps the most prominent historical example of it came at the end of the internet bubble when a number of dot-com companies with no assets, revenue or business plan were propelled to sky-high valuations. The short interest ratio actually declined from 1998 through 2000 despite ever-rising valuations.\nThere are some who currently believe we’re in a bubble similar to the late 1990s. If they’re right, then we should not make too much of short sellers’ lack of aggressiveness. Absent that possibility, the message of the short-sale ratio is bullish for the next 12 months.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":3484258,"gmtCreate":1612409669734,"gmtModify":1680775604141,"authorId":3570654056264733,"author":{"id":3570654056264733,"authorId":3570654056264733,"name":"JTE","avatar":"https://static.tigerbbs.com/03e6cacf7bf56246b33ac7dbd30171a1","vip":1,"crmLevel":2,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":314166394,"type":1,"supId":0,"prevId":0,"content":"reply","text":"reply","html":"reply"},{"id":3474664,"gmtCreate":1612320859287,"gmtModify":1680775452114,"authorId":3570834181418778,"author":{"id":3570834181418778,"authorId":3570834181418778,"name":"leezx337","avatar":"https://static.tigerbbs.com/7627f3e18f07b710232b3113cc70f7b4","vip":1,"crmLevel":1,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":314166394,"type":1,"supId":0,"prevId":0,"content":"Can help me like thanksss","text":"Can help me like thanksss","html":"Can help me like thanksss"}],"langContent":"EN"}],"hasMoreComments":true,"newsSizeData":{"likeSize":29,"commentSize":22,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false}}