Ringing the Register Continues

 | May 23, 2013 | 11:36 AM EDT
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Stock quotes in this article:

hpq

,

csco

,

FB

,

adt

I'm seeing that some of the biggest shorts are being covered -- a sure sign that the real strength on a day like today comes from short-sellers ringing the register.

Some of this might be related to a huge short, Hewlett-Packard (HPQ), which surprised nicely, and is bringing up Cisco (CSCO), which has been shorted heavily.

The endless lies that are being told about the end of Facebook (FB) have driven that stock down to levels where people fear something positive.

Finally, a stock that I believe has been ridiculously over-punished, ADT (ADT), is rallying. Again, I think that is the short-sellers' register ringing.

These kinds of situations are business as usual, as the shorts know not to press their luck, so they aren't taking chances.

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