Can't blame the shorts for the drop the last two days. On Monday only 27,015 shares were shorted and 33,575 on Tuesday. Volume today was 534000 . Last week the short volume varied from a minimum of 48,000 to a max of 110,000/day.
Is it possible the funds are still window dressing? Who is doing all the selling?
Stopped out today on a portion of my holdings with other stops in place. This short interest was shrugged off when it should have set off alarm bells. I'm still in the black at this point and both protecting that position and considering opening a short position. If you can't beat them join them.
I'd hold off on that short position another day while it tests the support in this area. I'm hoping for a decent bounce at the bell in the morning. If another down day tomorrow - a short might be the ticket. JMO.
Like I said last week, there is really no hope for this stock anytime in the near term. Hope has been lost. And management refuses to step up to the plate to buy stock (either personally or through a buyback). This further supports the slow down hypothesis and contributes to the demoralized morale of long shareholders such as myself.
Stock is done. A year from now, maybe that can change. But 2013 is going to be tough to sit through.