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1.Market Observations, 2.Strategy, 8.Was Sticky

31 July 2017 (TheAge) – $1b of short interest in retail stocks faces earnings season test

[COMMENT: This news story indicates one possible event that might move the local market.]

(31 July 2017, The Age, BusinessDay, p18, Vesna Poljak)

‘More than $1 billion of bets against the Australian retail sector will be tested when the earnings season gets under way this week, underlining a difficult year for the stocks with the most to lose from Amazon’s entry. Short exposure to Harvey Norman, JB Hi-Fi, Metcash and Myer is tracking at about $1.3 billion collectively, according to the latest data provided by the securities regulator. With double-digit short positioning for all of those names, including Myer where 16.5 per cent of the company is in the hands of shorts, any surprises could trigger a squeeze. ‘

Read more at TheAge.com.au

For more information on which shares are sold short see MarketIndex.com.au, or the ASX website (see a recent published list of shorted stocks).

 

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