The stock is on the verge of breaking out of a pennant to the upside.
While I don't think your thesis is unreasonable - any investor on this board knows too well how fleeting short covering pops may be. However to answer your question, Why would the shorts be any different?, I would answer that they are different, because losses are potentially "infinite" (yes, I know, a margin call will put an end to the pain) - but for longs the loss is more contained. That alone should make the trading behavior of shorts trading somewhat different from that of longs. Also, given the timing uncertainty of the partnership announcement - an announcement could happen at any time after approval - I would expect that shorting would be more restrained, though certainly not absent. It is after the partnership announcement that I would expect shorting to be more furious, because no one can be sure of market acceptance until the first sell in and sell through figures are in.
Found this while checking out AF's tweets - he mentions it with the words, "OMG" and "Wow". It's a new book written by former MELA CEO Joe Gulfo. Thought I'd mention it in case some on the board are interested. Apparently it is not available until next week on Amazon.
I like to believe there's accumulation going on. Saw the same thing on FB recently which is flying now. We'll see.