Friday, April 13, 2007

Standout Stocks

My Stock of the Day is again Jones Soda (JSDA).

The stock gapped higher again this morning, and is up roughly +9% on the day to a new all-time high. The company has been getting good press, which has helped spark interest in the name. But it's more than that.

I belive much of this latest move has been a big short squeeze. How do I know? Well, I covered my trading short 2 days ago on the brief decline in the stock. Good timing. Now the stock is more than 20% higher, so I tried to short another slug of stock. But guess what? I couldn't!

Ameritrade informed me that there was no stock available to borrow. That means that this is a very crowded short. Every share that was available to short has already been borrowed. Now I'm sure there are still brokers out there that can locate some shares, but I would be very careful about shorting a stock that is on the 'hard to borrow' list.

As for the rest of the market, another solid day where the market grinded its way higher. Breadth is strong, and measures of investor anxiety remain at elevated levels.

Here are some other stocks making notable. high-volume moves:
  • JSDA
  • JASO
  • INFY
  • POT
  • WFT
  • BW
  • SGP
  • DLLR
  • VAR
  • VRTX
  • FELE
  • SIMO
  • MSTR
  • ACH
  • PLCE
  • CETV
  • KSU

long VAR

2 Comments:

At 4:18 AM, Blogger Unknown said...

Thanks for your insight into JSDA. I've been traded it twice and have enjoyed the upside. Always looking for sources of information that can help with trades.

 
At 2:17 PM, Blogger J. Kahn said...

np, Eric. I think trading it here is better than owning it as an investment. Too overvalued.

 

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