NASDAQ Technical Picture - Inside Day

A low volume inside day could be NR7 (price and volume contraction before expansion).

Today's movement, or lack of, came from lower than avg volume (1342, vs. 2283 avg), with decliners outpacing advancers (1083/1907) and with new highs in line with new lows (68/67).

Companies moving in after hours trading in reaction to earnings: Trading Up: SNDA +2.1%... Trading Down: STRM -18.6%... Companies moving in reaction to news: Trading Up: OPLK +3.9% (announces share repurchase program of $40 mln in common stock); ICON +2.9% (signs direct-to-retail license for its Ocean Pacific and OP brands With Wal-Mart); BNI +2.1% (Berkshire Hathaway buys more Burlington Northern shares - DJ); IKAN +1.4% (lowers Q3 revs guidance below consensus); AA +0.7% (to sell two soft-alloy extrusion plants; close one in Tifton, Ga); CKR +0.7% (announces $100 mln increase in its term loan and provides stock repurchase plan update)... Trading Down: COA -1.7% (suspends dividend).

After the close Friday, NASDAQ released its August short interest data, which was collected on the 15th. The stocks with the largest short interest as a percentage of the float are as follows: USNA 119%; CCRT 79%; CONN 70%; MDTL 68%; JOSB 59%; CORS 55%; HSOA 52%; TRLG 51%; MCHX 50%; PRAA 47%; LEND 46%; ASFI 46% IPSU 45%; GMTN 45%; NETL 44%... The biggest increases in short-interest as a percentage of the float, from mid-July to mid-August, are as follows: FTEK's short interest rose to 33% of the float from 22%; LPHI is up to 32% from 21%; CCRT is up to 79% from 71%; NFLX is up to 31% from 23%; POZN is up to 23% from 15%; GTRC is up to 22% from 14%; WBMD is up to 20% from 13%; DFC is up to 33% from 26%; AACC is up to 18% from 11%; FBCM is up to 20% from 13%... The biggest decreases in short-interest from mid-July to mid- August are as follows: BBND's short interest dropped to 30% from 56%; COMV down to 30% from 45%; PPCO down to 23% from 36%; LAUR down to 17% from 30%; CROX down to 19% from 31%; PARL down to 13% from 25%; MNTA down to 41% from 52%; TRMA down to 19% from 31%; IVAC down to 17% from 27%; GNTA down to 5% from 14%... NYSE short interest was highlighted in my weekend post.