Hahaha- just Thursday and Friday?! I've been half expecting a...

Hahaha- just Thursday and Friday?! I've been half expecting a full blown short squeeze for the last month but what we've had is more like an awkward cuddle!
I normally don't pay as much attention to shorts, but total shorts have been declining fast since the beginning of April - a full two months before the breakout above 80c - and on Monday 23/7 they started to plummet. Some people might think they know something?

In the 11 days of accurate records (4-day delayed data) since the 23/7, nett shorts have dive-bombed by 35.8M, and total shorts covered in that time is over 44M (new daily shorts plus nett reduction). So with a total volume traded in that time of 99M, almost half the total buying volume has been shorts covering!

And considering there has been over 8M new shorts in that time, most of which has in my view been "strategic" selling by the same shorts covering - to cap price or trigger some selling by nervous holders - then almost 10% of the selling is also the shorts!

There is still strong support at about the 92c level, with strong buying coming in 3 times already at about that level in the last week. Probably more shorts jumping at that chance and lots like me and others on this thread looking for another entry point, and that will get tested again this week I'd wager.

I have a feeling the shorts just might be nervous about this however, as it will only take the slightest news or bit of volume momentum to jump and threaten breaking the $1 again, now that much of the weak hands in the mid 90's have been removed. That could clear us for a free run to about 1.15 as the next stop before we hit some heavy selling from stale holders from about a year ago. Just speculating, and the professionals have been playing a pretty solid game so far so I expect they will cope with it somehow.

So anyway, that was a long-winded way of saying- yes I agree! And also with the market being rigged in favour of the big players, but on the other hand they can also leave big footprints.