This is crazy. Understand its covering, but I am short and the madness has to slow down.
mostly covering, from people that shortd into earnings, once they cover, will settle around 70, negative market move like 1500 points, it will hit 50-55 level
You are right on the shorts. Profit taking may occur after shorts have covered. with 5M shorts, about 2M more need to cover, if they all cover.
Or they will do what I am doing and adding to my position to lower cost basis.