We will know how many covered or doubled down by Oct 31st! My feeling is it went up by 3-5 million as of last reporting period..but then some have covered On Friday and today and the number will decrease in the next one. I think the shorts and their 3M shares is not going to be enough from now on to keep a lid on pps or enough to keep the pps dropping again!
Folks! It went up by 4.3M..how was that for a prediction? Now they are all scrambling to cover with the news of last two trading days. There will be more covering tomorrow..made worse by margin calls..just like it happens on the long side..it also happens on the short side.
61M short shares to cover...maybe 10M of them covered in the last 2 days but that leaves 51M still very short!
Well, the shorts appears to be still formidable....they brought down the pps from the high of 5.66 to closing pps of 5.30 (a net decrease of 36 cents) which is quite a bit. What about tomorrow? DO we get alt least a 5% increase?