Top NYSE Short Squeezes for October
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Updated from 7:04 a.m. EDT
When you see something like the thousand-point increase in the
Dow Jones Industrial Average
on Monday, you realize that there are stocks moving up way more than normal due to short squeezes.
A short squeeze takes place when the short-sellers short-interest in a stock scramble to cover their bearish positions when that stock moves sharply upward; their buying ends up pushing shares even higher. Short positions of stocks are measured by the short-squeeze ratio, which represents the number of days it would take for the short-sellers to cover their positions based on the recent daily volume of the stock.
Stockpickr has come up with a list of the
top New York Stock Exchange short-squeeze plays
for the month of October, including
Thomson Reuters
(TRI) - Get Report
and
Toronto Dominion
(TD) - Get Report
.
To read more,
.
At the time of publication, Altucher and/or his fund had no positions in stocks mentioned, although positions may change at any time.
James Altucher is president of
LLC, a wholly owned subsidiary of TheStreet.com and part of its network of Web properties, and a managing partner at Formula Capital, an alternative asset management firm that runs a fund of hedge funds. He is also a weekly columnist for the
Financial Times
and the author of
Trade Like a Hedge Fund
,
Trade Like Warren Buffett
and
SuperCa$h
. Under no circumstances does the information in this column represent a recommendation to buy or sell stocks. Altucher appreciates your feedback;
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