NYSE Short Interest

NYSE Short Interest is out this afternoon and if you are short, it's good news, short interest fell to a 3 month low!

Why this is good news? Having shorts in the market is actually good for the market and helps prevent massive crashes, as the market moves down, shorts will cover and take profits, when they cover they are buying and providing some support to the market, however, when those eventual buyers are not there and the market falls hard, there are fewer shorts to take profits by covering/buying and thus there is far less support for the market during a decline, making the delcine even worse.