Stocks Advancing Amid Heavy Short Interest - The New York Times Co, iRobot Corp, J. Crew Group Inc, Ascent Solar Technologies Inc

As explained in our education section, short interest is a useful sentiment indicator that measures the level of investor pessimism toward a stock. While it isn't always a simple "long only" indicator, it can give you insight into situations where you might see concentrated buying demand. The purpose of this post is to highlight heavily-shorted stocks that could be in the midst of a potential short covering rally. More details about the methodology are listed below.

Companies included in today's scan are: The New York Times Co (NYT), HNI Corp (HNI), iRobot Corporation (IRBT), J. Crew Group, Inc. (JCG), AmeriCredit (ACF), C&D Technologies (CHP), UCBH Holdings (UCBH), CVB Financial (CVBF), First BanCorp. (FBP), Pacific Capital Bancorp (PCBC), Energy Conversion Devices, Inc (ENER), Capitol Bancorp. (CBC), Ryland Group (RYL), McClatchy (MNI), Susquehanna Bancshares (SUSQ), Charming Shoppes (CHRS), Media General (MEG), S&T Bancorp (STBA), Maguire Properties Inc (MPG), Meritage (MTH), KB HOME (KBH), Raymond James Financial (RJF), Lindsay Manufacturing Co. (LNN), Ascent Solar Technologies Inc (ASTI), Human Genome Sciences (HGSI).

Methodology - the query scans my database of companies which has some basic filters to eliminate stocks that don't trade frequently. The table above is a filtered list of stocks that have at least 10 percent of their float sold short and showed a gain in the previous trading day. I use this as a tool for finding situations where stocks with heavy short interest have begun to move.

Like this post?

If so, you can get it delivered to your inbox every day. To try it, simply click here and sign in with your Schaeffer's username and password. (If you don't have a Schaeffer's Plus account, you can create one in just seconds by clicking here - it is free.) Once on the alerts page, select "phrase" from the first drop down box, select "intraday", and enter "Stocks Advancing Amid Heavy Short Interest" into the third box. You can repeat that process for other regular posts or change the setting to "author" and enter "Nick Perry" to get all the posts. Just remember, I make multiple posts a day so you will get numerous emails if you select intraday...

 Email to a Friend

 Del.icio.us

 Facebook

 Reddit

 Newsvine

 Digg

 Mixx