There are probably old shorters who shorted from above $2.00 down. Looking forward a sp in the mid 30 will are not here to stay. So any dip from here will be golden opportunity for shorters to cover, because with the biggest risk removed the sp will keep heading north. While the big instos who shorted might be able to afford to hold out a little longer, but it's not worth their while when clearly this is the last chance for them to lock in maximum profit.
New shorters will simply help old shorters close out their short positions.
BLY Price at posting:
$4.40 Sentiment: LT Buy Disclosure: Held
