Look up “short squeeze” over at investopedia and you’ll likely find this chart.
While the market rallied higher last week on the news of government intervention into the nation’s financial system, Cascade Bancorp (CACB) saw its stock price explode higher as short sellers ran for cover.
As I suggested the last time I took a look at CACB, this breakout and subsequent retest is bullish for the company and may even indicate some sort of reprieve/light at the end of the tunnel for the local economy.