Iceman, As evidenced by the shortman data, percentage of shares...

Iceman,
As evidenced by the shortman data, percentage of shares short has fallen from above 10% in December
to 2% as of now. Id call that considerable short covering.
And from the man:
Pete Speaks Finance!

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Column 1 0 Column 1 0 Throughout the decline from about $100 a barrel, yours truly spoke about a $30 target for oil with a real possibility it could even trade down to the $20s.This morning we have breached the $30 level.While I’m out of the soothsayer and stock picking game, I do continue to follow markets and address them in general. When it comes to oil, I believe the final stage to this vicious bear market has begun. It shall be the ugliest stage of the entire down move but shall allow a classic quote to come into play:“Adversity creates opportunity”​

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