3 S&P 500 Short Squeeze Candidates

High short interest coupled with strong technical positions is a recipe for pain or profits, depending on your side

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3 S&P 500 Short Squeeze Candidates

Short Squeeze Target #1: Corning (GLW)

033114GLW 300x189 3 S&P 500 Short Squeeze Candidates
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At the top of the list is a new name, Corning (GLW), though it’s not a stranger to short squeezes.

The recent increase in short interest — a whopping 79% — surges the company’s short interest ratio to its current reading of 6.8. This is the highest reading of GLW’s short interest ratio since November 2013 (see the chart below), just before the stock saw a covering rally that pushed the shares 12% higher.

033114GLWShort 300x235 3 S&P 500 Short Squeeze Candidates
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This tech name is already trading with relative strength against the market as it pushes to new multiyear highs. Our research of GLW stock also shows that it is not unusual for shares to rally ahead of its earnings dates. This means shares might have an additional catalyst soon; the next earnings report is slated for April 23. We’re expecting a short squeeze to help push GLW stock another 10% to 15% higher over the next month or two.

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Article printed from InvestorPlace Media, http://investorplace.com/2014/03/sp-short-squeeze-targets/.

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