Then why did you cover? And I have yet to see anybody on this board talking about the fact they said they didn't access their 100 million credit facility last year, and that cash was down on the entire year by something like 1.5 million. Has is a negative cash flow of $1.5 million "Losing money way to fast?"
Not rationalizing anything. It's a turnaround play. They missed the earnings estimate by a penny - that doesn't make any difference. If they had beat by a penny and "only" lost 15 cents a share you would have been looking at a loss on your short as the stock would be higher, and yet they would have lost basically the same amount.
I know you'd just love to see it drop back to $1.40 to $1.60 to buy, but you should quit rationalizing that - it's not going to happen.