Short Positions down another 52%After falling by 20% during the first half of February, active short positions dropped another 52% during the last half of the month (from $616M to $405M). Clearly, the market backlash from the Carrefour deal has subsided substantially. Institutions do not want to hold their short positions into the release of quarterly results on March 17th.
The unwinding of these short positions is a necessary precursor to SP recovery. Given the pace of the short covering, we can antipate some positive SP action this month, especially if ATD provides a solid set of financials and srong outlook on the 17th.
Good times ahead my friends!
-GBG