Billy, I think you're correct about the MM's. Considering LGF's rise today, on light volume, and on an overall negative market day, I wouldn't bet against LGF for the time being. I was ready to sell a block of shares in the morning in anticipation of buying them back at a lower price (something I commonly do with range-bound stocks), but luckily changed my mind.
Earnings season has started, as declared by CNBC. This, along with the 12.4 million shares shorted, could be enough reason for a nice upward price move in anticipation of a pleasant earnings report.
I see Alcoa did not disappoint after the bell today. One down, many more to come.