Blyth squeezes higher

|By:, SA News Editor

Shares of Blyth (BTH +12.9%) squeeze higher on 5 times average daily volume. Shorts are scrambling to cover, with a staggering 79.1% of the float sold short as of Aug. 30. The move follows a 5.8% gain yesterday after CEO Robert Goergen disclosed he had purchased 10K shares.

Hat tip to SA contributor John Gilliam, who wrote earlier this morning that shares may go parabolic due to an overwhelming number of shares sold short combined with insider purchases (both reported and "shadow").