Another thing that was going for shorts in a low demand environment was the quants. The high frequency trading software knows not of fundamentals. They do know trends and know when a stock has broken out, so these same programs that helped keep SIRI basing for weeks can very well help it skip on to the next higher basing level in a hurry.
Any retail players shorting a breakout stock, with increasing institutional action and reputable big money houses like Morgan getting behind it, are just plain crazy!
Even all these momentum technical types will be left behind as TA has not served well over the last couple years.
You can't base a thesis on looking back..all you need is to understand the prospect going forward. This is a strong BUY and HOLD candidate for the long term.
Those getting in and out will be left behind or continue to chase and destroy the maximum return overtime.