IPSU has currently more shares sold short than any time during the last 12 months. That is significant and presents ample fuel for a robust rally. This one is a ticking time bomb for the shorts, they better not get too greedy or they will lose everything. Covering now to book profits seems like the reasonable thing to do!
This is a very interesting number, given the facts that many of the new shorts will be at the lower levels. That means if we can keep this flat bottom between $6.50 and $7 now, and any glimmer of good news to push it to $7.25 to $7.50 range, I think the shorts will run to cover and this one will pop up hard and fast.
Only time will tell, but since we have stablized out at the $6.50 to $7 range now and very low volume, I am calling the bottom.
I'm hanging in at $7.05 and will hope for a huge shorts fire in the very near term.
Just a side note from what I am watching on the stock board trades this morning, regarding those short positions....
Due to the very low volume and holders are not selling cheap now and I don't see any sellers running for the exits now. In fact, the holders are holding very strong at this level and keep bumping up the ask and forcing the bid up well past the current trade price, but still nothing moving and when it is it is a lucky 100 batch.
This should make for a very interesting scenerio should any positive news come out, since shorts added more positions over the last month.
It appears that when and if any positive news comes out, they will have one hell of a time trying to cover at any low levels.