We need Willie to confirm, but it's probably just the shorts doing some of those conversions. No longs are going to be selling, trust me. Those conversions never bother me because they will all have to cover eventually, and I'm in for the long term. So it's actually better for longs in the long-term, as the eventual squeeze will be that much greater.
kiki we posted at the same time. See my post below. But to repeat I havent seen any RC's of late. Sometimes one can miss a small RC thinking its some kind or spread or just coincidence on a small trade but the true RC's are not that hard to detect. The past 3 days seemed to have been void of RC's