Shares of Energy Recovery (ERII) have surged over 96 percent so far in 2016, drowning the short sellers who have increased their bets against the water desalination specialist along the way. Not that the company's CEO Joel Gay is too worried about the naysayers, who have chosen to short 13 percent of Energy Recovery's shares at last check. 'We were recently reported as the number one performing stock in California over the last 12 months and fourth best performing stock nationally,' said Gay. 'We have and we will continue to be bad news for those who short our company.' Energy Recovery designs and manufactures energy recovery devices for the oil and gas, chemical and water industries. The company's technology captures wasted energy from high pressure fluid flows and reuses them within an industrial system - reducing costs, energy use and emissions.
More from Video
How quickly do we find support, is what we'll want to know now, as the correction is occurring while economic optimism builds.
Despite the president's promise of no stimulus until after Nov. 3, there are no signs yet that this is the sort of correlated selling that leads to a deep correction.
Salesforce, Amgen and Honeywell will give a lift to the DJIA going forward.
CAG has hung onto the bulk of its recent gains, and could rise to the $50 area, according to the charts and indicators.