Funny thing is, I don't think the covering has begun yet. Volume has been about average-below average signaling shares are beginning to dry up. Not a good sign if you are short as the PPS will run when covering does begin. I think what we are seeing here is price stabilization which is a precursor to a squeeze. Upon confirmation of positive metric improvements Pandora will fly. We saw this with Netflix. The price action comparison has been almost identical. Funny how some have trouble seeing what is occuring in the price action in conjunction with sector and industry news releases.