DB: how can you actually tell that shorts did or did not cover? I remember a huge jump from $12.40 instantly to $12.67 accompanied by higher volume, which suggests some shorts were throwing in the towel today.
What you seem to be suggesting is that the upward pressure of the stock price will force many of the remaining guys to liqiidate on Friday 5-10 which will prompt another huge upward prive movement. If so, this could get volatile as different people liquidate their short positions during the day. Do I have it right what you are saying?