Looks like what is happening is that, last year the artificial QE liquidity mercilessly forced all the shorts to cover from 65 to 100 and that is obviously over now. Looking at the lifeless bodies of the 2013-shorts on the street, some very big world-renowned shorts like Soros etc. might have detected a pleasant opportunity to sell anew and they seem to want to put up their tents and dug in now, for the next couple of years of expected bear route on the inflated ones. They must have studied all the dynamics and feeling that their timing is perfect. Super-Bears work in perfect synchronicity with the Fed: When it was worried, they were worried; now that it is not worried and tapering, they are not worried. They'll nicely enjoy the PE-compression cycle now.