The short positions for equities in NASDAQ have been published and once again, Sirius XM Radio is near the top of the list. From September 15th to October 15th, short interest increased roughly 33,000,000 shares and now stands at about 232,000,000. This places Sirius XM shy of only Level 3 in terms of overall short interest.
Sirius XM, which has a shareholder meeting in late December, and which has no yet announced a date for Q3 earnings has been a target for shorting for quite some time. Despite what appears to be heavy shorting, institutional ownership stands at 54% according to NASDAQ.
On Friday Sirius XM stock saw a mini rally, and appeared to have bounced off of the .25 cent mark. To technical traders this could represent a buy signal if certain criteria are met, but the behavior of the markets lately makes it very hard to determine if a bottom has happened.
Position - Long SIRI, No Position Level 3