It has broken out of the downtrend channel on 1/19. Call options up next stop 5.32. That's 15% in less than a month. I just don't think we'll get above the all time high until product news comes out or next earnings when the recent purchases can show some payback. With the days to cover cut in half, the short squeeze discussion is moot.
I won't take issue with anything you said (especially the new, improved tone :-} ) EXCEPT (and you just knew this was coming) this part:
"With the days to cover cut in half, the short squeeze discussion is moot."
Days to cover assumes nothing exciting has happened and, well just for the helluvit, the shorts began to cover enmasse and over the indicated period of time. Which is grand, but why would shorts decide to cover just for the helluvit?
It would take news. News would bring new longs, old longs adding on, and shorts covering. Volume would explode, and shorts wanting to cover would do so as fast as their stubby little fingers could fly.
In short (pun intended) days to cover is about a relevant and meaningful as the number of Happy Meals consumed by shorts. IOW, you can compute it, and having done so, you have a relatively accurate NUMBER.......which has nothing to do with the cost of OPK in China. ;-)
>>>(especially the new, improved tone :-} ) Oh, you noticed :>.
I get what your saying about news driving the price, but that would happen regardless of the shorts. The way I figure it, the days to cover indicates buying pressure. If there is increased volume it is reflected in days to cover. Increased volume means increased buying and selling. Shorts compete against themselves not against new money. Shorts will be happy to pay a few pennies above the order book. Longs just don't have the ability to act in concert like the smart money can. - well, unless it's Frost, but he doesn't seem to bother with this stuff. The guy is a freaking vacuum cleaner. Anyway, your practical rebuffs are thoughtful, It's going to be an interesting end of the week.