Many think that Adam Gefvert defined this term for the oil and gas industry. However, 'dry hole blowback' is really a new trading term that describes the affects of some of the largest institutional investors buying up larger and larger positions in a public company and eventually shrinking the float to almost zero. Dry hole blowback is the point at which 12 million short shares have no float to buy from and are trapped at the mercy of insider and large institutional holders. At a much higher price. The blowback bursting point could occur at any time but is highly likely to happen between February 27th and March 8th.