short squeeze

Dow Jones Newswires offered this version of the price action in VBA today.

1513 [Dow Jones] Broker describes Virgin Blue (VBA.AU) trading activity today
as "a classic short squeeze" popping shares 20 cents higher to A$2.10 in 5
minutes, last at A$2.06, up 16 cents. With only about 10% of VBA stock available
to trade now Patrick Corp (PRK.AU) has 62%, Virgin Group 25.6%, CEO Brett
Godfrey about 3%. Broker says punters who sold stock down on hopes it would fall
sharply on expiration of PRK A$1.90 bid, now having to buy back stock to cover
short positions they are most likely incurring fail fees on from ASX for failing
to deliver shares in time, tightness of register meaning they can't borrow stock
to cover position. (WEL)