If there ever was a day shorts are motivated to impose their will on this currency today is it. Sept 30th last day of trading for Q3 is a important mark for both Longs & Shorts. We are all very aware shorts are very committed it will be interesting to see if relatively small intitutioal portfolios with concentrated positions like Archon Capital Management LLC are just as committed , time will tell.
Peter, since Sept 16 to the 27th there have been 496,500 short sales and on Friday PKT was up 0.93 during that period.. The longs have taken all the shorts sold and more. . Today the shorts are getting some help from the politicians in Washington but there will some day of reckoning if the politicians don't screw up the country.
One could easily imagine a scenario where Institutions knowing the size of the short position and the scenario we might encounter decide to add to their positions this time and initiate a squeeze because circumstances would dictate that this would be the time for shorts to profit. With the small float it would not take much to devastate that scenario and shake the confidence of shorts and with earnings on the horizon perhaps create a little panic. On second thought it could create a great deal of panic with added announcements of more wins.