Short ratio has remained steady the past few weeks. This was liquidation of long positions to cover margin calls. Same with many other winners. Something similar happened in Jan-March 09' when the market kept dropping because of forced liquidations and some excellent stocks traded at irrational valuations. You simply can't stand in front of a freight train. Computers know when there is too much leverage in the market and delever violently. Long run, this is probably good.
Now, it may take some time to bring back scared longs. There is a chance nothing has changed and the company is still in route to a 10 cents gain this quarter. But noone really knows and I am scared myself.