Think of situations as GS does in patterns.The distribution trade here is near done, short profit or downside gets limited as eventually investors will just hold.
However, there is great potential to the trade on the long side. All those committed shorts, are very ripe, ready to be squeezed. There will be profit to the long side for GS and other big trading desks after they are done, all the way up.
"All those committed shorts, are very ripe, ready to be squeezed. "
When the shorts cover now, it is called taking profits. It will take a long, long time before the shorts are squeezed.
Kept buying and it kept falling. bought for over $27.08, $25.5, $23.85, and $20.14 today. Lost over $10,000 now.