These NYSE Stocks Could Spike
Updated from 10:13 a.m. EDT
Many investors and traders believe that the stock market has hit bottom. If that is true, there are some interesting short-squeeze plays available on heavily shorted stocks.
A short squeeze takes place when a stock's short-sellers cover their positions quickly when good news boosts the price of the stock. This short-covering often drives the stock price even higher. The metric for measuring short-squeeze plays is the short ratio, which represents the number of days it would take a stock's short-sellers to cover their positions based on the stock's recent average daily volume.
Stockpickr has come up with a list of heavily shorted stocks that trade on the New York Stock Exchange and compiled the NYSE Short-Squeeze Plays for August portfolio, which includes such names as Thor (THO), Harry Winston (HWD) and Sealy (ZZ).For the rest of the story, and to see which NYSE-traded stocks could spike, please click here.
A note from James Altucher: Every weekend I send an email to Jim Cramer and several hedge fund managers about the most interesting portfolios posted on Stockpickr that week. Usually those portfolios not only list stocks according to a theme but also offer significant analysis as to why the stocks are cheap. Here are some examples:
- Stocks related to drilling the Marcellus Shale
- MLPS with yields above 7%
- Microcaps trading for less than tangible book
- Stocks that do well after Hurricanes
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