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Message: Short interest climbs 8,200

The updated number, current to March 15th 2017 is 155,500 up from 147,300.....not a big jump, but I have to admit some surprise.  

On February 28th the PPS closed at $2.03 and up to that date 147,300 shares were short.....on March 15th the PPS had moved up to a closing price of $2.20 for a climb of 8.4%.....not bad for a couple weeks worth of trading.  

I had thought that the increase in the share price had been helped along because I suspected that the number of shares shorted from February 28th was going to drop, not increase.  What this means to me is the PPS rose, not because short sellers were covering off their positions, but in spite of the fact that they actually added 8,200 to the overall number.

Short interest had gotten as high as 200,400 up to February 15th, and then it dropped by 53,100 going to that figure of 147,300 up to Feb 28th.  During that interval the PPS went from $1.91 to $2.03 (closing prices) a jump of 12 cents or 6.3%

We shall see how it unfolds in the weeks and months to come.....my suspicion is that we have some tree shaking going on.  I think its very possible that those who are short might also have sizeable long positions, positions that they want to increase and that short selling might be being used in what is often called "The Wyckoff":

http://www.businessinsider.com/the-richard-wyckoff-stock-trading-method-2013-2

 

 

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