[size=1.5]THE long-short ratio of an equity is measured as the ratio of the value of its stocks available for short selling to the value that is actually borrowed. According to Data Explorers, the research firm which produces the indicator, it is a way to track the negative sentiment of investors. Our chart shows the movement in the ratio for the North American industry sectors attracting the most short-selling since the height of the financial crisis. Even in these industries, the bearish sentiment seems to have declined since mid-2008, particularly in the real estate and banking sectors which were most heavily affected by the crisis. All four sectors still have their fair share of bears, however; the 13% of lendable value presently on loan to short-sellers in banking is higher than the 10% in the global equities market overall.