By Roberto PedoneWINDERMERE, Florida ( Stockpickr) -- Has the stock market finally put in a tradable bottom? It's very possible when you consider the big up day we had on Wednesday combined with the follow-through up day on Thursday. In the last two trading sessions, the Dow Jones Industrial Average has managed to bounce more than 300 points, and the S&P 500 has soared more than 40 points. This bullish action was ignited by some decent manufacturing data out of China and by some bullish growth out of Australia. From a technical perspective, this rally was almost perfect for the bulls since it came at a time when the S&P 500 tested the key psychological level of 1040. That level has been an area that the market gods have defended three times with success in the last couple of weeks. Judging by the furious moves up in the markets the past two days, it's not a stretch of the imagination to consider that many bears were forced to cover short positions. Some heavily shorted growth stocks such as Priceline.com ( PCLN), Chipotle Mexican Grill ( CMG) and Netflix ( NFLX) have seen big moves as a result. If the market has at the least put in a tradable bottom for the time being, then it's probably time to seek out some short-squeeze candidates by looking at the most heavily shorted stocks that have a chance to really put the bears on the run. What is a short squeeze? A short squeeze results when the price of a stock rises and investors who short-sold the stock rush to buy it to cover their short position. As the price of the stock increases, more short sellers feel driven to cover their positions. As these short sellers cover their positions the price of the stock skyrockets. With this in mind, let's take a look at a number of stocks that could be setting up to experience some big short squeezes due to their extremely high short interest. >>>Also see: Financial Short Squeezes for 2010 One stock that is heavily shorted by the bears is Sonic Solutions ( SNIC). This company is a developer of products and services that enable the creation, management and enjoyment of digital media content across a variety of technology platforms. Currently, the short interest sits at a whopping 46.2% of the tradable float of 23.50 million shares. The number of days of average share volume it would require to buy all of the shares that were sold short during the most recent reporting period is 18 for Sonic.
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