Indeed ... that is definitely what a squeeze looks like - note the Volume 40M ... there were still buyers and sellers.
Usually a short will cover and sell a new short position as the volume starts to flag, that will tell you where the peak is likely to be. Watch it trade tomorrow ....
Hedge, I totally concur.. Problem is if someone short covers at higher prices, they are under water and when they sell again hope to get it right the next time with less money in their pocket (no matter how deep)... You can't make repeated bad trades and hope to make money on volume :)
Always buyers and sellers. Just have to have your price to sell. After 9.5 months of wait, what's the price where a $8-10 long is going to sell. A $2-3 long who waited this long?
Alas, one of the 64M short-share holders?
Unless WS "knows" it's going to take a month or two or three. Same with EU. A month or two or three. *Maybe* they know this. Maybe they just are biding time like longs and looking for the point to buy back and re-short.
Either way, I think we can expect a lot of buying (covering) and entry by longs who were frazzled on DEA day - when?!