Never saw a short squeeze like this ever. We are all screwed if you are short.
it's its own index now - and run me over completely.
it is controlling the float and making shorts cover before the new year. Most people don't have the capital to keep this short, and must cover.
The problem with this stock is it now received "cult" status - shortest time ever - so betting against it can be painful. However, it is the end of the year, and selling it back down to 58 makes perfect sense by Friday, because they will buy it right back up by December 31st. Take your profits today and tomorrow and then prepare to re-enter by Tuesday afternoon.
Here is a great cult stock example - just think all you greedy cult like freaks, if TWTR can make it to 88, it can make an impromptu run all the way to 400 like NFLX in one year's time. Then it will be equivalent to Apple trading at 150,000 dollars per share similar to BRK A
Even taking too much in of a cult stock requires some back and fill, the last high was around 60.38-60.88 - within two days, it could easily retest 60.58 and still finish higher.
If it goes any higher, it will be too expensive to join into the cult, it will be looked as a "bad drug" and anyone who has studied "cults" or "addictions" is that you can cut it off for a while, but then you get re-addicted - If I was an institutinal trader with 159% profits since the IPO - I would trade it down to 52 by Friday and guess what, I would still be up 100% since the IPO. So, I would have made my clients already 59% realized gain in less than a few months and still book it on my books at 100% profit (unrealized).
This is the #1 cult stock of 2013 - it has defied all concept of valuation - so any valuation argument can be thrown out the window - but it also the reason, with any cult, like any drug, you react badly, once you sell it back down, traders know this, so when it is sold back down to 55 by Friday - Traders will pile back up for the next high back to 70 plus.
or I will give you all my xmas presents.
This is absolutely the darling manipulating stock of the end of the year 2013 - but now, that we know it goes up 10 points in two days, 26% in 3 weeks, I would expect it to move back to 62 by Friday.