For those of you who aren't familiar with the short game, there is a limited time-frame for which they can cover short sells. As of 2/12 with TRLG they had about 15 days, I really can't wait to see what the action looks like then when they are all running for cover.
Looked at the chart, and I find it hard to believe that the short interest was higher in February 2010 than March 2009. People expected global financial collapse in March 2009! I would have thought that when the company continued doing well in the middle of a strong recession and financial Armageddon was averted that the short interest might have declined.
Concord, the short interest did drop by 66% from around August 2008 to December 2008. They were covering when TRLG dropped along with the market. Back in August 08, there were around 12M shares shorted. They stopped covering when the price got down to 8-10. Volume also dried up at that time, probably why they stopped covering because they wiould have driven the price up. They were hoping for a TRLG armageddon, not just a financial market meltdown. So they thought they would keep 4M just for giggles. Why do some folks think the shorts have 15 days to cover? That 15 day number is contrived by dividing the avg. daily volume into the total number of shares shorted. 6.5M shorts/433k. shares daily = 15 days. When I've shorted other stocks, I never had to tell my broker when I would be covering.