When swing trading breakouts on stocks like ROYL, MGM, TIVO, RF and GAB I try to time the bull market, short interest as well as the chart pattern. Here’s what I’m looking for on these 5 breakout pending plays heading into Tuesday.
Royale Energy (NASDAQ:ROYL) operates as an independent oil and natural gas producer in the United States. Small short interest here at 1.23 days to cover per the last settlement date on 12/15/2011. The small market cap of $51.66 million could help fuel a burst.
Mgm Resorts International (NYSE:MGM) primarily owns and operates casino resorts in the United States. The short interest is 3.44 days to cover on MGM. The market cap here is $5.53 billion so a bit larger than I’d normally look to play, more like a mid-cap really but I think they are positioned well for the online poker surge.
TiVo (NASDAQ:TIVO) provides technology and services for television solutions, including digital video recorders (DVRs) and connected televisions in the United States and internationally. Solid short interest on TIVO at 7.12 days to cover which could accelerate a run. TiVo’s market cap is $1.23 billion.
Regions Financial (NYSE:RF) operates as the holding company for the Regions Bank that provides a range of commercial, retail, and mortgage banking services in the United States. Hardly any short interest here at 1 day to cover. Another mid-cap at $5.7 billion.
Gabelli Equity Trust (NYSE:GAB) is a closed-ended equity mutual fund launched by GAMCO Investors, Inc. and managed by Gabelli Funds, LLC. Also very little short interest here at 1 day to cover. GAB’s market cap is more in my wheelhouse at $938.61 million.