THQ Inc. (NASDAQ:THQI) has over 20% of the float shorted. This is a whopping 12 million shares. To find out whether or not a short squeeze will soon occur one must look closely at the details of the company. First, the market cap sits at $47 million while cash sits at $51 million. This shows us a company trading below cash value.

The triangle pattern broke to the upside on the S&P 500 today. The SPDR S&P 500 ETF (NYSEARCA:SPY) is trading at $128.21, +2.71 (+2.16%). This breakout was expected based on the bullish pattern formation seen last week. In addition, new money flow was likely to enter the market on light volume. The combination of all these factors spelled rally.

THQ Inc. (Nasdaq:THQI) announced that Margaritaville Online will launch in January and is now in Closed Beta. A select number of lucky players will join the "Buffett Beta Club" and experience the carefree, free-to-play paradise based on the lifestyle of legendary singer, songwriter and author Jimmy Buffett.

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