One final earnings short-squeeze play is Collective Brands ( PSS), which is set to release numbers on Wednesday after the market close. This is a producer of compelling lifestyle, fashion and performance brands for footwear and related accessories to consumers worldwide. Wall Street analysts, on average, expect Collective Brands to report revenues of $868.02 million on earnings of 14 cents per share. An analyst at DA Davidson cut their price target on Collective Brands recently ahead of the quarter but reaffirmed its their buy rating on the stock. The analyst cut their price target by $1 to $16, which is still a mile away from the stock's current price of just over $9.50 a share. The recent strong earnings report out of Foot Locker ( FL) could bode well for Collective Brands for this coming quarter. It doesn't hurt that the stock is also ridiculously beaten-down in front of the quarter, with shares off from its April high of $22.99 to its current price of just over $9 a share. The current short interest as a percentage of the float for Collective Brands is an extremely large 25.8%. That means that out of the 56.22 million shares in the tradable float, 15.56 million are sold short by the bears. It's worth pointing out that the bears have increased their bets dramatically from the last reporting period by 22.5%, or by around 2.8 million shares. This is a huge increase in new shorts bets on a stock that's already heavily shorted. If the bears are pressing too much ahead of the quarter, then any good news could spark a massive short squeeze. From a technical standpoint, the stock is currently trading significantly below both its 50-day and 200-day moving averages, which is bearish. That said, the stock just found some buying support and formed a temporary double bottom at around $9.11 a share on decent upside volume. If the stock holds that double bottom after they report, then we could have a bottom in place for the stock in the near-term. I would look to be an aggressive buyer of this stock after they report if you see shares trade above some near-term overhead resistance at around $10.44 a share on heavy volume. I would look for volume that's either close to or greater than its three-month average action of 2 million shares. I would add to any long position above $12 a share and target a run back towards the 50-day moving average ($12.81) or $14 a share if the bulls take full control of this stock. I would only short this name if it drops below $9.11 a share on big volume after the company reports. A drop below that near-term support zone could set this stock up for a test of the next significant support level at around $7.13 a share. To see more potential earnings short squeeze candidates like Melco Crown Entertainment ( MEPL), Aspen Technology ( AZPN) and La-Z-Boy ( LZB), check out the Earnings Short Squeeze Plays portfolio on Stockpickr. -- Written by Roberto Pedone in Winderemere, Fla.