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RE: Save The Market
beware, oh ye bears:
Investors are doubling down on the recent stock market selloff, with short interest in the S&P 1500 last month reaching its highest level in more than three years, according to data from Bespoke Investment Group.
For the S&P 1,500 as a whole, the average level of short interest as a percentage of float (SIPF) stands at 6.48 percent. Thatâ€™s not only a 52-week high, but itâ€™s also the highest level since June 2012.
Itâ€™s not just one or two sectors pushing the number higher. Bespoke points out that short interest has reached levels not seen in at least 52 weeks for 4 of the 10 sectors in the S&P 1500.
"How bold were the bear calls at the ETF conference? Both Faber and Dennis Gartman used the term "Not in my lifetime" to lay out their belief as to when stocks and oil, respectively, would really rally."
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