I have been watching TNA every day for over a year... it's pretty much all I use to practice trade. All four days this week in the afternoons, TNA borrows for shorting have been very hard to come by on Interactive Brokers. Those familiar with the IB platform know that when shares are not immmediately available to borrow, the dark green bar comes up next to the ticker. Well, in the afternoons this week, that dark green bar has been present, with the longest timeframe being on Monday, to my best recollection. To put in perspective, this is the first time in over a year that TNA has been not immediately available for shorting. These bad-boys are being grabbed up at a high rate, it seems. I am not experienced enough to understand the inner workings of market operations so I cannot come up with all the reasons why this might be happening. Intuitively, however, my gut is telling me that shorting is becoming popular and shares are possibly being accumulated. I have no proof of this, but this certainly is a rare occurance on Interactive Brokers.
Regular followers of the market know that we are at a critical point in the markets right now, and may become a big inflection point. Some very good traders as well as some hedgies (based on what I am reading) have gone to cash and/or are bearish. I try not to let others opinions steer me, but my read has been a bearish one for a couple weeks. Early last week, I moved all our 401K into cash. We'll see what happens... this market stuff sure is fun to watch!
