There are no shorts helping this stock move,� 1765 shares are currently short. This stock is moving on it�s own. Don�t wait for any short squeeze, because it will not happen!
3. Magal Security Systems is a manufacturer of security systems. Based out of Israel, the company peddles its wares in approximately 70 countries, according to Hoover's (http://www.hoovers.com/). Last week, MAGS shares soared following General Electric's bid to acquire InVision Technologies, another security technology company, for $50 per share. This nugget of information infused strength into the industry as a whole. Today, MAGS has gapped over 25 percent higher to a new 52-week high, moving above its December 2001 peak in the process. Catalyzing this latest burst of strength was Israel's assassination of Hamas founder Sheik Ahmed Yassin, leader of the militant Palestinian group blamed for a slew of suicide bombings. With Hamas vowing revenge, security concerns have escalated, boosting the price of MAGS. On the sentiment front, the short-interest picture on MAGS is a bit peculiar. As recently as August 2003, there were more than 40,000 MAGS shares sold short, as a fair number of bearish players bet against the security. Over the ensuing six months, this number quickly dwindled until it was nearly nonexistent, but last month short-sellers boosted the level of short interest on MAGS by a whopping 571 percent to 1,765 shorted shares, equaling an unimpressive short-interest ratio of 0.05 times the stock's average daily volume. There is nothing to report on the options front, as the stock is not yet an optionable security. Click the following link to see the Weekly Chart of MAGS Since November 2001 With 10-Week and 20-Week Moving Averages: http://www.schaeffersresearch.com/wire?ID=9723 .