Financial post report indicates that the short position has been steadily declining. More than 14 million short positions representing tens of millions of shares will need to cover.
Most of the shorts will be buying back between today and before the earnings are released. This is certainly going to be a substantial factor that will push the common share price well beyond the $1 point and inturn lift all the preferred shares. Short positions are now 14,027,208 (Oct. 14/11) as opposed to 14,598,358 (Sept. 30/11)