2. Long weekend
3. Monthly options expiry
4. Company conference coming (after 4 weeks of preparation)
Who in the right mind will HOLD A SHORT position going into the weekend? For shorts that have paper profits, it makes sense to take some $ off the table. For new shorts, the level is not attractive for entry and the long weekend is just too risky.
Remember Icahn, he has NOT made his move yet. He is still in the shadow. Holding a billion dollars waiting to pound on it. MOASS coming.