I agree! If you look at the chart, most shorts came in around $51 last April. That is when the stock was announced *dead* by most short sellers and institutions. When you think about it, it all makes sense, last winter was extremely warm, after winter, no catalyst, you have to wait one more year and what if it is another warm winter, people come in and tell you UGG is dead, etc. More shorts pile in. At current price, shorts are still sitting on confortable 20% gain, so they have no need to cover any time soon. However, it will all change if we manager close above 200 day moving average around $45, shorts will start to think if they do not cover now, they will turn profit into lost. Also the automatic program many institutions are using will kick in, if you look at the heavy volume around $45 - $55, these trades will be back after $45, they either cover or turn into long. I could be all wrong, but I would not add shorts or sell out my longs at this level, at least wait until earnings to see who is the the winner, the risk/reward favors long at this price point.