There are over 1million shorts covered over the past 6 weeks . They are still covering as we speak. They are covering for a reason. They are people in the know. I'm willing to bet they had a good idea that no news would be out before this and they have a pretty good idea that good news is coming soon. Hence the covering.
If July 1 comes and we still do not have news I doubt very much if you are going to see those short positions taken up again in this price range and only bad news will send it down to the $1.10 to $140 range. Just my opinion. Problem is with lots of dry powder, when the news comes out and the market isn't open that powder has a lot less kick to it when the share price has doubled after the market has opened. Once those milestones are met they satisfy the customer and that's as good as a contract. The share price will spike immediately. That's the way I see it. Time will reveal all. Have a great weekend and hang tight to those shares.
