New short interest numbers just out...and as suspected, the number of shares short increased again from Nov 15th-Nov 30th. Short interest is almost 5 Million Shares and days to cover has increased to 6 days (amount of time it would take to cover short positions based on average daily volume). I would suspect to see it maybe even rise again from Nov. 30 - Dec 15th, as shorting is still obviously taking place. However, once the shorts start to cover and longs start to buy in and add to their positions, this should only add fuel to the fire of a nice run. If you are in the stock right now just hold and accumulate. We could have one or maybe two more bearish days but its getting to be a juicy buy soon. I will load up the boat anywhere from 6.75 to 7.00, if it does retrace to there.
Yep, I agree with all you said. I have no clue what the shorts will do from now till Dec 15th (probably short more since that is their MO), but I can practically guarantee that if there was an accurate way of determining total shorted shares up to the end of today, we would 100% definitely be over the 5 million mark. No question at all of that in my mind. This is a pretty stunning number when you consider that at the start of 2010 YONG hardly had any shorted shares at all (maybe 300,000). I will buy some more as it approaches $7 (if it approaches I should say).