Fusion IQ

First Cash Financial Services, Inc (FCFS) - Paw Shop Scores a new FusionIQ Short Squeeze

First Cash Financial Services, Inc. (FCFS) which operates pawn stores scored a new FusionIQ Short Squeeze on Friday as investors assume business will pick up in a slowing economy.  With close to 14.00% of its float short and a point and figure target of $ 34.00 FCFS offers investors a solid upside return potential within the framework of a possibly growing macro theme (ie. companies that benefit from a weakening economy).

FusionIQ Short Squeezes dominated by Energy

As seen in the table below four out of the six stocks that meet the FusionIQ Short Squeeze criteria are in the Oil Comp, Exploration

and production group.  Even though many say that the group is extended they still continue to show techical strength.

ShendgaTech Inc. (SDTH) - Chinese Chemical Maker Scores FusionIQ Short Squeeze

With plastics and other commodity shooting through the roof it is not surprising that ShengdaTech scored a high volume, short squeeze breakout. With a point and figure target of $ 14.00 and close to 15 % of its float short.  SDTH shares are likely to continue to surge in the coming days.

Martek Biosciences Corp. (MATK) - New FusionIQ Short Squeeze

Shares of Martek Biosciences Corp. (MATK - FusionIQ 86 Technical Score / 74 Master Score) jumped to its' highest price in more than two years after the company teamed with Dow AgroSciences LLC to develop and sell a special type of canola seed.  The companies will make a canola seed that produces the omega-3 fatty acid, docosahexaenoic acid (DHA), which is considered important for proper brain and eye development and function. The production of a DHA canola oil by Dow and Martek is viewed as a cheaper option for various food uses.

With close to 25 percent of its float short and a point and figure target of 45.00 MATK shares offers investors good intermediate term return potential.

Rowan Cos (RDC) scores FusionIQ short squeeze

Rowan Companies, Inc. which performs contract drilling of oil and gas wells in the United States and internationally scored a high volume FusionIQ short squeeze on Friday as it broke out on almost 2 1/2 times its normal 21-day average volume.  With close to 12 percent of its float short and a point and figure target of 62.00 RDC still has solid upside potential.

Myriad Genetics, Inc. (MYGN) - New FusionIQ Short Squeeze

Myriad Genetics, Inc. (MYGN) which develops and commercializes genes involved in major common diseases including cancer, cardiovascular disease, and central nervous system disorders scored a new FusionIQ short squeeze yesterday as shares which have 25 percent of their float short shot up aggressively on close to 2 times its normal 21-day average volume. 

Additionally, MYGN shares also scored a new FusionIQ timing BUY signal yesterday.

Skyworks Solutions Inc. (SWKS) - New FusionIQ Short Squeeze

Shares of Skyworks Solutions Inc. (SWKS) which rose in afternoon trading Wednesday after an Oppenheimer analyst said the company's margin outlook appears within reach.  Subsequently the price target was raised as well as estimates. The stock gained 74 cents, or 8.7 percent, to $9.25. Woburn, Mass.-based Skyworks makes semiconductors for cell phones.

With a FusionIQ technical rank of 100 and 12 percent of its float short, we expect shares to keep running.

FusionIQ Short Squeezes

Everyday FusionIQ has a variety of trading screens it generates to its users.  One of the most robust is the FusionIQ proprietary Short Squeeze screen.  The table below lists stocks on today’s list.  These are issues that have a large percentage of their float short and have recently moved up in price on above average volume.  These names tend to generate large short term price moves when they work as buyers and short sellers converge to create a buying vacuum.

To see more FusionIQ trading screens sign up today at https://www.fusioniqrank.com/signup.php

ICO - Coal stock with a big short

International Coal Group, Inc. (ICO), a coal miner in the northern and central Appalachia and the Illinois basin which we featured to subscribers last week in our Chart of the Week, scored a high volume short squeeze surge breakout again on Friday in the face of a weak tape.  Stocks trade up in poor tapes always attract us as it is on these days it would be very easy for buyers to step away.  With almost 22.00 % of the float short ICO has a big liquidity catalyst to propel shares higher and the coal sector has been red hot of late. The point and figure target for ICO shares is $ 9.25 giving investors a nice percentage return if the target is reached from present levels.

McMoran Exploration (MMR) - A double play - a NewFusionIQ Short Squeeze and Breakout

It is baseball season and everyone likes to turn two !!  MMR shares scores the rare FusionIQ double play registering on both our short squeeze and breakout screen.  With 20.51% of its float short, a new FusionIQ timing BUY signal and volume expansion 3x its 21 day average volume MMR shares look to have runaway bullish momentum. 

The point and figure target is $ 28.50

Short Squeeze Candidates

Last week, we added to our list of potential short squeeze candidates: Valance Technology (VLNC),  Old National Bancorp (ONB), Community Bank System (CBU), Lindsay Manufacturing (LNN), and Priceline (PCLN).

Some of these showed up on our breakout previously. Add potential short squeezes, and you have good list of tradable names:

Short Squeeze: Converted Organics Inc. (COIN)

UPDATE:  Last October, the Fusion IQ quantitative ranking system generated a BUY signal in Converted Organics Inc. (COIN), as the chart below shows. 

Converted Organics Inc. (COIN) a manufacturer of organic biostimulants, a natural fertilizing product used in organic farming, scored a new FusionIQ Short Squeeze signal last week (February 21).

With 19.87% of its float short, and shares trading up on over two times its average daily trading volume, it appears that shorts betting on a price decline have been panicked into buying back shares as they advance higher.

The point and figure future projected price target for COIN shares is $17.00.   We think $10.40 is an appropriate stop loss here for traders.

FusionIQ Short Squeezes

The following stocks today show up on the FusionIQ Short Squeeze screen today because they have exhibited above average volume and price surges and have a significant percentage of their float short.  We expect follow through momentum on these names over the following days and weeks.  They are sorted by highest to lowest FusionIQ Technical Score

WMS    FusionIQ Technical Score 96     Short to Float Percentage   11.14

ENS    FusionIQ Technical Score 92     Short to Float Percentage   24.54

CREE    FusionIQ Technical Score 91     Short to Float Percentage   35.14

XIDE    FusionIQ Technical Score 80     Short to Float Percentage   10.57

Trizetto Group (TZIX) - New FusionIQ Short Squeeze

The TriZetto Group (TZIX), which delivers third party packaged and proprietary software applications, Internet infrastructure, and front-end portal access broke out yesterday clearing resistance on 3.17 times its 21 day average volume.

The stock also scored a new FusionIQ timing BUY signal and has 15.18 % of its float short. After a surge like yesterdays we would suggest buying on a minor pullback. The point and figure target for the double top breakout is $ 28.50. A stop could be set along with your own risk tolerance or below yesterdays low.

Short Squeeze Screen

Using the Fusion IQ software, we run a number of different screens each day. One of our favorites is the Short Squeeze. Here's the most recent run of stocks:

BMRN BioMarin Pharmaceutical - AVG DAILY VOL. 1.5 MIL - 16.86% OF FLOAT SHORT

HLS HealthSouth - AVG DAILY VOL. 700,000 - 25.07% OF FLOAT SHORT

ADVS Advent Software - AVG DAILY VOL. 315,000 - 18.55% OF FLOAT SHORT 
(ADVS hardest to buy but may be most explosive)

DRRX  Durect - AVG DAILY VOL. 357,000 - 11.13% OF FLOAT SHORT
(Would avg. cost buy between 6.75 and 6.50 - short-term target $ 8.00)

Historically, we look for a 10-15% move over the near term period in short squeezes. A tight stop is always advised.

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Health South (HLS)
click for larger chart with historical Buy signals