Nasdaq 100 net shorts highest since 2008

Omkar Godbole FXStreet Contributor

Speculators boosted their net short positions in the tech-heavy Nasdaq 100 index during the week ended Sept. 15, pushing the total tally to the highest level since April 2008, according to US Commodity Futures Trading Commission data released on Friday.

Technology stocks have come under pressure this month, putting a floor under the oversold safe US dollar.

On Friday, the Nasdaq 100 slipped to 10,769 – the lowest level since July 31 – having topped out at a record high of 12,439 on Sept. 2. It has found acceptance below the 50-day simple moving average for the first time since April 13.

The recent sharp rise in shorts suggests investors are anticipating deeper losses in the technology shares.

Author

Omkar Godbole

FXStreet Contributor

Omkar Godbole, editor and analyst, joined FXStreet after four years as a research analyst at several Indian brokerage companies.

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