Indirect, on the other hand, refer to those shares held in a name other than the insider, but are still considered part of his or her ownership picture. At a small company where insiders hold relatively few shares, such a sale would be very much above average. I try to stress to people to compare insider activity at a company with its own past history. With this in mind, I consider Barrett's sale to be above-average for his individual profile at Intel. Shorts are sales, but, strictly speaking, volume measures trades, and sales are just one half of a trade.
Every short requires a long.
So, when calculating volume, ignore one half of every transaction. Theoretically, in fact, it is unlimited, according to Mike Long of Rockbridge Partners , which tracks short-selling. Shorts can multiply in much the way that credit expands. Thanks to editorial assistant Tom Lepri for his excellent research and writing in this column. Let us know.