No sh*t! It's pointing to end of day short covering and new long positions hoping to profit from the short covering. No big secret! But certainly does not point to a big "breakout" from Friday's close. That "read" has been confirmed as a losing trade.
Here's hoping you are right on this one cocus. I used the drop in price and overall market condition to buy back all my June 15 calls this AM. That was a bit of a blow to the ol' account. I am expecting some sort of a pop this week myself with OE on the short term radar and the conference call following. Looking for a good premium on the July options in the next few days. I am currently a real long and a true bagholder if things drop below 16.