I don't think this was a short squeeze. Because the price is so low I think it was the high frequency traders doing their thing. In order to have a short squeeze you need about 20% of the shares in short interest. One thing I noticed about CIM is that it has a strong positive cash flow position which means it can meet the dividend payments. Plus with big ben holding intersts rates low until 2013 I don't see any interest pressure on CIM. So good luck to all. I loaded up at 2.56.
Alas, I was just a bit slow on the uptake. Perhaps I just assumed that a Viking fan would never again(even in jest), consider going down that path again. You live and die with the likes of Favre & Moss.