Nice profit. I want to see where M settles at the close and then will be in May calls. I don't want to miss the run up to Citi's target of $46.
I believe a lot of the pre-market action was capitulation by some of the few remaining professional shorts, and teh price could settle down over the rest of the day, particularly as day tradersclose out their positions.
Some hedge funds got burned. Short interest jumped 2 million shares at the end of December, but dropped by a million over the first two weeks of January.