What level will the new shorters set their stop losses at ? May be 10% above $6.50 = $7.15, so once we reach around $7.15 we should see the SP start to accelerate upwards as the new shorters start to cover.
I think the period between $6.70 and $7.15 is where the hard grind is taking place , Longs out numbering new shorters with a slow grind upwards, if we can go up between 2 - 3% a day , we should hopefully reach $7.15 by Tuesday or Wed next week , and then we should start to see the acceleration as the new Shorts start to cover...and then reach $8 by about 20th / 21st Dec....
What level will the old shorters (Shorted between $10.70 and $15.50) lock in their profits? Greed is a big thing, I am not sure where these guys will start to buy back their shares, may be around the $8.50 to $9 level and then this covering should push the SP back above $10
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