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COPYRIGHT 2005 Voxant Inc.
Original Source: CNBC/DOW JONES BUSINESS VIDEO ANALYST INTERVIEW
BECKY QUICK, CNBC ANCHOR: After two months of back-to-back declines, short-selling on the big board has hit a record high. To help determine what`s driving that shift, we`ve called on one money manager who`s been adding to his short position. John LaForge is chief investment officer at SRQ Capital Management and he joins us right now.
John, taking a look around, this game is a surprise to some people that short interest was so high on the New York Stock Exchange. What do you think has been driving it?
JOHN LAFORGE, CHIEF INVESTMENT OFFICER, SRQ CAPITAL MANANGEMENT: I really think what`s going on now is oil at $66, which it hit today. In seeing some of the things that came out of Wal-Mart and knowing that the Fed in September, November probably going to move another 25 basis points. And 25 basis points shows again that we`re coming to a short-term peak. Long- term, I`m very bullish still but in the short-term, I think the interest is warranted.
QUICK: Although, you take a look at the Fed, that can`t be coming as a huge surprise to people, that they would continue these small hikes...
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