May 29 (Bloomberg) -- Short sellers are betting against U.S. stocks like never before as the Standard & Poor's 500 Index approaches an all-time high. That's making some of the biggest bulls even more optimistic...The amount of shorting -- where traders sell borrowed stocks expecting to buy them back after prices fall -- jumped to 3.1 percent of the total shares listed on the New York Stock Exchange this month. That's the highest since at least 1931...Mergers and acquisitions increase the likelihood that short sellers will get burned, according to Robert Froehlich of DWS Scudder, which oversees $321 billion. ``Anyone that did the theory, `sell in May and go away,' they're going to wish they never read that,'' Chicago-based Froehlich said.
We will soon find out.
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on Tuesday, May 29, 2007 at 5/29/2007 03:18:00 AM.
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