I know the drop in short interest has been covered but I'd like to touch on it again. The latest short interest report as of Feb 15th shows 4.4M shares short out of a 15.7M float. That is 28% short. Think about that. Nearly 1M shorts covered between Feb 1st and the 15th. Probably Friday Feb 8th and Monday Feb 11th after the buyback and CEO news came out. That must have been significant news.
So now there is only 28% of the float short. Back in June to August there was nearly 75% of the float short. Back then you could say there was smart / BIG money at work on the short side. Now you can't say that. Now it is safe to say that the big money is out and those that are left on the short side are the small players with itchy trigger fingers. Now it is just plain dangerous to be short.
I'm expecting a nice ramp into earnings simply because these dumb-money shorts will not want to risk holding thru this earnings release / conference call. Because these shorts that are left should know that now that the smart money has cleaned out the dumb longs they now have the opportunity to clean out the dumb shorts. And this earnings release /CC has the potential to deliver an array of catalysts to help them do just that; slaughter the pigs.