<<back there in May and it didn't move this pig one bit?>>
That was the last stampede of sellers locking in on the wrong side of the transaction. Can't tell if it was shorts looking for the stock price to trade below cash levels, or a long mutual fund trying to maximize their capital loss.
<<There is only 460,000 shares short so hardly enough to call it a short squeeze. As a percentage of the total shares outstanding its nothing.>>
Yes, but it does represent three days worth of shares at average trading volumes. If there has already been a capitulation by longs taking losses, there will be a reluctance to sell. Shorts better hope that some longs bought in the mid 7s and are willing to take profits in the low to mid 8s.