This could be the greatest show on earth and you should really give traders a hand. Markets opened strongly on the back of oversold conditions, a stronger dollar, weaker gold, oil and commodities. But later with FNM, FRE crushed and others in the financial sector, stocks fell off a cliff.

It looked mighty grim for awhile this afternoon, but Da Boyz and their allies were there to save, if only temporarily, what was turning out to be horrible day. At the stroke of 3 PM 12K contracts, mostly on the buy side, hit the NASDAQ eMini contract and the short squeeze began. While prices faded into the close the action was spectacular all day.

Volume was again heavy and breadth horrible. Yahoo/Finance has trouble with numbers and maybe that’s a reason they can’t figure out MSFT’s bid….

Was a positive ISM report the spark bulls needed to seize the tape and put a short-squeeze on? It wouldn’t take much with markets much oversold. But, higher prices paid are hurting manufacturers in this inflationary environment and passing these costs to customers is becoming increasingly difficult. Meanwhile inventories are growing and new orders are slowing. This is a pretty thin reed for a rally. Inside the numbers the troubles plaguing investors and the economy are still omnipresent with commodity prices rising, transports tumbling and emerging markets faltering. Volume was very heavy but breadth wasn’t impressive. [With columns, please eyeball the math. Poor Yahoo just can’t do it. We’ve had good suggestions and many folks and agents “trying” to contact them to fix it. Do they care??? The answer seems, obviously not.]

According to ShortSqueeze.com, 277,600 shares of HYBR have been shorted. This is a 27.11% increase over the previous number of reported shorted shares and a 588% increase over the figure reported on February 15, 2008.

For those who are not familiar with shorting, it is the opposite of buying. Instead of buying and then selling at a later date, a trader sells shares he doesn’t have and then later on buys them back from the broker. This puts him in a risky situation, however, since a substantial material event from the company would attract great buying pressure and spike the price per share, causing him to lose on the trade. In this situation, he would feel pressured to cover his shares, further strengthening the bull run.

As you can see, a very large short position (such as the one in HYBR) could create a massive run if covered. This

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According to OTCBB.com, 218,373 shares of HYBR were reported shorted as of May 15, 2008. The number is a 24.45% increase over the shorted shares reported two weeks ago and a 441% increase over the figure reported on February 15, 2008.

For those who are not familiar with shorting, it is the opposite of buying. Instead of buying and then selling at a later date, a trader sells shares he doesn’t have and then later on buys them back from the broker. This puts him in a risky situation, however, since a substantial material event from the company would attract great buying pressure and spike the price per share, causing him to lose on the trade. In this situation, he would feel pressured to cover his shares, further strengthening the bull run.

As you can see, a very large short position (such as the one in HYBR) could create

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If mining and drilling is the rage for fuels the world can't live without and prices going higher and higher, how can Flotek Industries, Inc. (NYSE:FTK) be trading so low? Shares are down 50% YTD after cutting their 2008 guidance and trading at $17.  But with a 15% short float could it be setup for a potential short squeeze? The Fly at iBankcoin.com seems to think so and for those of you that don't read him and his crew, you should:

From the Fly: If you’re interested in a potential short squeeze, take a gander at (

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