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You could be right but I highly doubt it. There are plenty of people who think this stock is overvalued, so I doubt if they'll cover at this point. Anyway, here's where I get the 10 mill number from.http://www.nasdaq.com/asp/quotes_full.asp?kind=shortint&symbol=ERTS%60&selected=ERTS%60
I have seen that, but it is not current. That was last month's data, which hasn't taken into account the few big short covering days we have had these past few weeks.The shorts on this stock cover fast. If you check your link you will find that more than 1/2 the shares short can be covered in as little as two months:Jan. 15, 2002 3,627,996 Dec. 14, 2001 5,561,018 Nov. 15, 2001 8,287,583Next month's readout based on the the volume traded this month leads me to beleive that the number of shares short will fall into the range of 4-6 million, most likely at the lower end of that range.We just have to wait and see. Either way, a good pop or spike up ie. short burn is always a good to see as rarely ever does a stock begin it's turn downward from a flat chart.I wouldn't be surprised to see 70+, but that would mostly be wishful thinking. I'll take it if I can get though, but in the mean time, I am not going to miss out waiting for it either.
Your assumptions, whatever. You assume that the shorts on this stock cover fast but I think people also start new positions (shorting) when the stock hits higher levels. Don't forget that the S&P 500 tracking funds have to have this stock by 7/19.