Daily Report : Skeptical traders push Nasdaq short interest near record levels; SPY gaps and tail hedges

There has been a rise in the number of shares sold short against stocks trading on the Nasdaq exchange. Those bets are nearing a record high. That's supposed to be a good sign for future returns, and it is (kind of), it's just not a solid reason to buy.; The most important ETF in the world gapped up and added to gains for 4 straight days, the 1st time ever to this degree. At the same time, traders were buying far out-of-the-money put protection as hedges.