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Short sellers have piled back into financials
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Thursday, December 10, 2009
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From 24/7 Wall Street:

Short sellers sharply increased their gamble that financial stocks would fall based on short selling data from NYSE and Nasdaq on the last day of November.

Shorts pushed into Citigroup (NYSE:C), increasing their positions by 11% to 216 million shares making the bank stock the most shorted among all US companies. Bets against Bank of America (NYSE:BAC) rose 13% to 75.5 million shares and 2% against Wells Fargo (NYSE:WFC) to 77.2 million.

Short selling made very large gambles against the big companies in the retail sector probably based…

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Topics: Short Selling | Financials | Stocks
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