Yes, but also today short sale volume again was rather high relative to other stocks.
20121023|RFMK|9054775|0|27066342|O
33% short sales today is surprisingly better than it has been over the last week (we have been seeing 40%-50% short volume ratios), but still remains high at a third of the total volume. If we assume these shorts are getting covered daily then that would mean 2/3rds of the volume today was shorting and covering, just MM games, the rest of the volume (1/3rd) about 9M shares actually traded hands. Do not let the dark side fool you, these are not legged internal trades by the MMs, these are the total short sale transactions for the day printed to a "consolidated" tape, which means any interim legged trades in order to fill orders have already been accounted for and do not show up in these FINRA daily numbers. The fact is, the biweekly short interest remains allegedly (according to the official reports, but how can we know they are accurate reports from firms when so many each month are caught not reporting the real number of shorts to FINRA - look at FINRAs monthly compliance section, its a rap sheet) at zero, which suggest that any daily shorting is getting covered in the same day or when the trade is settled in T+3. Also since the daily short ratios remain high roughly between 35%-45%, the number of days those transactions have to settle (T+1, T+3, etc) means absolutely nothing, it has nothing to do with the very simple fact that these FINRA numbers are the daily short sale volume versus the total volume. Period.
GLTY
$RFMK!
