It is not only the shorts. It is weak hands as well. It amazes me that many people only play the market one way. They seem to buy or short a stock and go. I am normally hedged enough that if it moves against me it is minimal loss. I am in fact short NFLX today 1000 shares. For the day my net is down about 300 in the entire position. But if it does move back down as I think it will, I will make some money. Anyone that trades today's market that doesn't understand options and hedging is playing a losing game.