Updated from 7:01 a.m. EDT
The huge drop in the stock market has created significant short-squeeze opportunities, especially in the financial stock arena.
A short squeeze takes place when a stock's short-sellers 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.
This week, Stockpickr has compiled a list of the
PNC Financial Services
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At the time of publication, Altucher and/or his fund was long State Street, although positions may change at any time.
James Altucher is president of
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Trade Like a Hedge Fund
Trade Like Warren Buffett
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