I follow a few stock forums and I have seen that comment on every one. I yet have seen the short covering bump in any of them. I am not saying it couldn't or won't happen but so far in three years, I just have not seen it.
I have seen it usually when it is making new highs every day and I think that is what pushes it past the point of logic. It looks like we have settled in at this level so you are probably right. It might get us a extra buck or two in the short term. No pun intended.