I think it is hard to pinpoint movements specifically to shorting activity, normal trading will also have an effect on SP movement. I only have access to the shortman data I have put together a chart using photoshop to try and illustrate shorting vs SP, the red line is SYR (the correct way up), the blue line is the shorters (upside down), so keep in mind, as the blue line goes down shorters are increasing. You can see there is a strong correlation between the SP and the shorters. There are a couple of spots where they have gone in opposite directions, perhaps shorters being caught by surprise by something like the china supply news in october This data has a 4 day lag so it will be interesting to see how the shorting chart continues in comparison to that little tick up at the end of the SYR chart line there
SYR Price at posting:
54.0¢ Sentiment: None Disclosure: Held
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