Metcash Initiatives Gain Some Early Traction, page-43

The higher MTS goes the more one thinks about whether to take something off the table, especially if one was deep underwater at some stage.
I am all-in for $1.37, buying the first 20% at 1.57 and the last 20 % at 1.05 and the rest somewhere in between. So I ended up with more than I initially intended. So at $0.96 I felt pretty grim and now at $1.415 I breathe freely.
I believe that the 20% aggregate shorts must be causing MTS to be way undervalued and therefore feel no urgent need to sell anything yet, but if the price nears $1.57 then I suspect I will happily say goodbye to that first parcel to drop my average cost and some exposure. Unless of course it is accelerating through $1.57!
A few years ago I bought some at ~$3.00 and sold them within a few weeks at ~$4.00, more ass than class, so could quite easily be looking at this move with less enthusiasm, as many long suffering shareholders will be.
It worries me that even with the ~50% move in 3 weeks off the bottom, that more than half the volume traded is new shorts being pressed. Yes, much more than this volume are shorts being closed, but what makes them feel so confident to add new shorts into this rising price?
Maybe it's as simple as they are playing with someone else's money, whereas I am playing with mine?
In which case, I think I can win as I am more committed.