The post BREXIT gains in the SP500 have been consolidated in a very bullish manner by most counts, while the gains in the SP500 have been muted some individual stocks have done very well. To put things in perspective, according to Bloomberg the SP500 has traded in a range of 1.5%, the smallest range since 1965.
In this light volume environment, there are a few stocks that with low floats and high short interest that look ripe for short squeezes, the type of squeezes that happen when individual stocks are running red hot.
DLTH, TWOU, CHGG, ININ, DV, CGNX, BMO (large float) are a few of the stocks that are trading near 3-month highs with small floats and high short interest ratios. You can get the details about these stocks here.
I have an interest in going long the stocks above if and only if they go through yesterday’s high plus .10 cents.
WWW, MELI, ROST, CASY, SON, SKYW, RSYS, CY, LC, YRCW, EXAR, NSAM, YNDX, SFLY, MGT, are also of interest for swing trades. There are many different ways to narrow down this list, you can do it by focusing on the ones that have low floats, high ATR’S, low price, high price, etc. Or you can allow the market to get you in or keep you out by just focusing on the one’s that break the previous day high by at least .10 cents.
My opinion and outlook are subject to change as new information comes in.
Frank Zorrilla, Registered Advisor In New York. If you need a second opinion, suggestions, and or feedback in regards to the market feel free to reach me at firstname.lastname@example.org or 646-480-7463.
The information in this blog post represents my own opinions and does not contain a recommendation for any particular security or investment. I or my affiliates may hold positions or other interests in securities mentioned in the Blog, please see my Disclaimer page for my full disclaimer.
This information is issued solely for informational and educational purposes and does not constitute an offer to sell or a solicitation of an offer to buy securities. None of the information contained in this blog constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is suitable for any specific person. From time to time, the content creator or its affiliates may hold positions or other interests in securities mentioned in this blog. The stocks presented are not to be considered a recommendation to buy any stock. This material does not take into account your particular investment objectives. Investors should consult their own financial or investment adviser before trading or acting upon any information provided. Past performance is not indicative of future results.