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Thursday August 27, 03:10 PM
STOCKS NEWS US-Short bets, inside selling may signal dip-report

Stocks on the move Real (Frankfurt: BJU.F - news) -time Equity news U.S. stock market report 0940 ET 27Aug2009-Short bets, insider selling may signal pullback-Jefferies ---------------------------------------------------------------------------- While short interest in S&P 500 companies remained below the historical average in the first half of August, bearish bets were above average in the healthcare, industrial, financial and materials sectors, according to a research report from Jefferies Equity Strategy. Investors who sell securities short seek to profit from bets the stocks will fall. Short-sellers borrow the shares and then sell them with the hope of buying back the share at a lower price, pocketing the difference. As well, insider selling continues to accelerate for a number of sectors, while insider buying remains 'virtually nonexistent', the report said. 'The combination of generally low levels of short interest and the increasing pace of insider selling continues to point to a rally that may be readying for a pullback over the coming weeks,' Jefferies analysts wrote. The most significant decrease in short interest occurred in the information technology sector, where it fell 19 percent, while short interest in financials rose 15 percent.

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