When a shortie goes short he will owe the shares to his broker. But when he stock goes up he will have to buy them at the much higher going price to return to the broker. That expalins the 50 plus point gains every now and then in inet stocks. Short covering rallies.
How do you think Yahoos, Amazons and Ebays are where they are today? Courtsey of the shorts. I guess we could use a few shorts here.
Today was the best one day gain I have made in my life. I guess I will put 27 Oct 99 in the record book but hopefully for not too long.