Along with an increase in retail and institutional demand, which...

Along with an increase in retail and institutional demand, which I think is a given, I think it's a reasonable assumption that some of the increased volume is short covering, perhaps accompanied by increased churn to dampen upwards pressure on the sp. We haven't seen much of a reduction in total shorts yet, but I doubt that institutions with significant short positions are going to show their hand and cover as they buy, as that would send a bullish signal to the market. I guess for them it's a case of whether incremental covering of short positions would end up pushing the sp up enough that it makes it more expensive to buy what's needed to cover than it is to continue paying the interest on the short position until they have all they need to cover. Anyway, just some thoughts, could be wrong, but I'll be watching for a sudden large decrease in total shorts.

On a related note, it looks to me like an effort is being made to keep the sp around $1. It could just be retail and/or institutions taking profit, but the timing of the appearance of sell orders makes me think otherwise. Whatever the case, feeling pretty good about holding ALK.

Edit: this was supposed to be a reply to Maccajohn, but it looks like he's got me on ignore lol.