The market is ripping off tits to the upside. Back in the old days, when I was a younger lad, I’d circumvent my way into stocks that were heavily shorted — using my buying power and the money of friends to spark a short squeeze. In upward surging markets, stocks that are heavily shorted enjoy a two fold boon: natural buyers and those scrambling to cover their shorts. Hence, the net result often leads to stocks screaming higher — inflicting pain and misery to those stuck short.
According to Exodus, the following stocks are heavily shorted and are ranked amongst the highest in the market now — technically speaking.
RH
WTW
ESPR
VSH
WAB
PRLB
PII
WAC
CENX
JUNO
ONCE
EXAS
It looks like biotech stocks are setting up for a big run. We’ve been seeing all sorts of drug stocks break out, like VRX, in spite of ‘healthcare reform.’ The markets knows.
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$P is about to join that mix.