the short is beginning to cover. been going on for a couple of weeks now. but they don't want a madhouse here so they make things seem like they are not covering. that's why we repeatedly see one day up 6%, the next day down 5% and on and on. the short is BOTH days - one day he covers, the next he shorts it back down, but obviously not as much back down to waste the covering that was done earlier. that's my take on what is happening. the short is controlling the action on 6% up days and 5% down days. another benefit of this is that he gets lots of weak hands to sell - people who buy when the stock is up 5% thinking "here we go" and then sell the next morning when it's down 6% and they reach max pain.
well said. That is why I would not play such a dangerous game, will not be weak hands that dump. At some point he will not be able to short because there won't be any to borrow!
Stay strong, just a silly game they are playing.