You're a moron dude that Squeeze bs is made to lure idiots like you in I've probably covered 10 x since
JCP was over $9. Dude traders are short for a reason you greedy morons trying to make a
fast buck betting traders are as idiotic as you will continue to get burned.
Hey idiot moron, the engine has started today. You know what fuel it uses, that's shorts blood. Ok as per your wish, you will be covering at $9 soon very soon. Remember these are shorts that can take the price back to $80s may be in a year or so.
I am long and under but you should realize 2 things.
1) The short is not 71% ( I posted the correct %'s ) if you care to look back through today and find the accurate data.
2) The shorts will never get squeezed as they sold short let's say 20 million shares @ $12 and then lets say when it hit $9 they bought 20 millionnshares to return to the lender, collecting $3. They then sold another 20 million shares short @ $9 and when it hit $6 they bought 20 million shares and return them to the lender,collecting $3. They then sold another 20 million shares short at $6,,,are you beginning to see a pattern here? They will never get squeezed to the moon as this stock can churn a 112 million shares in a day as it on Tuesday providing them enough liquidity to get flat.
You are wrong on many points. The short interest was 71% as of Jan 15th and considering the price movement the short interest today is probably higher. With a stock float of only a few million shares the most short shares that can cover in a day without significantly moving the price up is a few million. As soon as some big short tries to cover more then that the MMs and hedge funds will jack up the price and thus start a major short squeeze. Much of the churn you are referring to is just hedge funds trading the stock back and forth to generate liquidity and not real buying or selling. The shorts are toast. This stock has had some major short squeezes in the past when everybody thought is was dead.