I think the catalyst for the shorts has come and gone as NYB was a penny light on earnings, S&P reiterated its sell rating and Fed action. Now the stock goes ex-dividend on 2/3. If you're short to you really want to pony that .25 a share up when you already have a profit? My guess is there is significant covering next week.
S&P missed the subprime and Enron... so you know what you can do with the sell rating. It earned $0.27 per share same as the Sept Q. I think earns have bottomed out at $.027 It pays a great dividend... I dont think this company has much more downside. I will be suprised if it goes below $12.00