Schaeffer's Trading Floor Blog
Stocks quoted in this article:

As usual, this table lists stocks that have at least 10 percent of their float sold short and then shows the top ten based on the previous day's gain. The last field shows how the stock is performing in today's session. This can be a useful tool for finding situations where stocks with heavy short interest have begun to move. All returns are shown in percentages.

Note - more information on short interest can be found by clicking here.

Company Yesterday's
Gain
Percent of Float
Sold Short
Yesterday's
Close
Today's
Return
Photon Dynamics, Inc. (PHTNE) 7.4 16.2 20.73 2.85
KongZhong Corporation (KONG) 7.3 12.2 9.55 -2.09
Inter Parfums, Inc. (IPAR) 6.8 12.5 18.95 0.42
Wynn Resorts, Limited (WYNN) 6.6 14.8 49.95 -0.74
Overstock.com, Inc. (OSTK) 6.4 60.5 40.74 0.37
Headwaters Incorporated (HW) 6.0 11.4 35.07 -0.20
Medis Technologies Ltd. (MDTL) 5.9 30.4 14.58 1.73
MarineMax, Inc. (HZO) 5.8 11.4 29.12 -0.48
Royal Gold, Inc. (RGLD) 5.7 15.1 18.55 1.73
Magma Design Automation, Inc. (LAVA) 5.7 11.2 8.40 -1.19
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At the Open

by 6/2/2005 9:54 AM
Stocks quoted in this article:

The opening bell has rung and here is what I see...

For the most part is it a quiet open...the broad market indices are flat to slightly lower...a few of the tech sub groups are trying to rally with networkers taking the lead...oil related groups are pulling back after a strong showing yesterday...gold stocks continue their snapback rally off their recent lows...

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Stocks quoted in this article:

As I mentioned below, retail same-store sales are getting some of the focus today...While the big names such as Wal-Mart will most likely get the spotlight, you might want to keep an eye on bebe stores (BEBE) which is indicated up ten percent in pre-open action.

On Tuesday I discussed how this stock recently overtook resistance but still showed skepticism. If this morning's strength holds into the open, that would put the shares at a new all-time high.

That is worth noting as heading into today, the sentiment profile has changed little as, according to Zacks, only eight analysts rank BEBE and just three of those think it is a "buy". And don't forget that nearly 35% of stock's float is sold short...

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Looking Forward

by 6/2/2005 8:36 AM
Stocks quoted in this article:

The weekly jobless claims figures came in higher than expected...and this appears to have put a slight bit of pressure on stock futures as the S&Ps ticked lower and now sit three points below fair value.

In scanning the headlines for today's events, it appears most of the focus is on the retail group with same-store sales data being released. However, as you might expect, some are looking past today focusing on tomorrow's monthly employment report which is always a favorite among the media...


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In Review...

by 6/2/2005 8:09 AM
Stocks quoted in this article:

In scanning the news from yesterday, it looks like I missed an eventful session...

Bonds and stocks were strong as oil rallied. On Tuesday I noted that the TLT had hit a new annual high and this bond proxy advanced again yesterday as it marches toward its all-time high near 97.66.

Meanwhile, the SPX bounced off support and continued the uptrend I discussed Tuesday as this broad market index hit its highest level since mid-March.


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