One sector that has turned up some high short interest is the industrial goods sector, which includes everything from aerospace to building materials to farm machinery to manufactured housing to waste management.

The primary metric for measuring short interest is the short ratio, which is the number of days it would take for short-sellers to cover their bearish positions, based on the recent daily volume of shares traded. The short ratio can be used to find short-squeeze plays, whereby on any unexpected good news, a stock that is heavily shorted can spike upward.

With that in mind, Stockpickr has put together the Top Industrial Goods Short-Squeeze Plays, a list of industrial-goods stocks with very high short ratios.

A stock on the list with one of the highest short ratios is Heico ( HEI), a Florida-based company that makes and markets aerospace, defense and electronics-related products.

The stock has a high short ratio of 29.7. The company just reported fiscal fourth-quarter earnings of 40 cents a share, up from 35 cents a share a year ago. This increase was primarily because of significant sales in its flight-support division. The stock has a price-to-earnings ratio of 37, a P/E-to-growth (PEG) ratio of 1.7, and pays a small yield of 0.2%.

Heico also shows up in the Stockpickr portfolio called MSN Money 40 Best Technicals, which contains exactly what it says, the top 40 technical stocks according to MSN Money.

Other stocks in this portfolio include Agco ( AG), with a short ratio of 2.5, Affiliated Managers Group ( AMG), at a 15.8 short ratio, and Healthways ( HWAY), with a 26.3 short ratio.

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