Yes. SYR is a quandary, and spoils my theory a bit. Still SYR has other issues, both sector wide and company specific. I used to own SYR but got out for a bunch of reasons early. Of course, their shorts used to be at 20% and fell to 13% in July so 16% is a 4% fall, and it was a 7%. A 4% fall for GXY would see our price rising and a 7% fall would mean it was all over for the shorters, at least for the next year.
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Why are Shorts so high and increasing, page-51
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