I didn't say that, but I do see some people on chat boards that keep on shorting and calling tops every day. It's as if they are the opposite of the bulls calling bottoms every day.
Truth be known, no one knows where the top is or if THE lows have been seen.
I am basing my notion of "relatively" high short interest on short interest figures which of course are delayed and the fact that put/call just doesn't want to tank. It seems as if people think the market is coming down and each little move down is met with a put/call ratio that bumps up pretty fast.
Longs should love shorts....... they provide support to the market, but I still say, the lows for the year are in.
If you think the shorts are not the ones providing some fuel, then there must be buying, in which case, the shorts are still out there and will cover at some point.
TA
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