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Plenty of Shorts Are Still in Action

By Jim Cramer

 About this article:
 If they aren't short, who is doing the buying? I am reacting to Doug Kass' comment in Columnist Conversation about how nobody is short anymore. I am not talking about AIG, where 50% of the trading for the last two months has been short -- oops! I am talking about the day-to-day positioning of people. I think there are a lot of select shorts. Let's take Cisco. The shorts were in there killing the thing five minutes after the earnings were released. The text of the earnings release was bullish, and the stock traded up to $22.50, and then John Chambers did his characteristic, totally characteristic caution rap, and the next thing you know, the stock had dropped a dollar. I don't know any longs who were panicked out, because the numbers and the statements were pretty darned bullish. But the shorts? They couldn't resist. They need...

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