JPMorgan: The Stock Market Still Has $90 Billion in Short Sales Left to Cover

Updated on
  • Levels of bearish bets have not come down much since August
  • The S&P 500 is up more than 7 percent since bottoming Aug. 25

Traders on the New York Stock Exchange

Photographer: Michael Nagle

Here’s an awkward fact for anyone attributing the three-week climb in the Standard & Poor’s 500 Index to bearish investors unwinding trades: over that stretch, short interest hasn’t budged.

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