Okay I get were your coming from but I don't think your logic is correct. Yes there could be individual short sellers who have made money and got out, that part is correct. As a group, which is what I track the short sellers are losing money big time. We know the sum of the short sellers transaction everyday and we know the average price for the day so we can increase their bank account if they sell and we can decrease their bank account if they buy. At the end of the day its simple math's, if the buy back exceeds the amount of money they need to buy all the shares back then they lose as a GROUP not as a individual short sellers. The short sellers have to pay the shares back at some time or repay the party they borrowed them from cash to the value of the stock. It may turn out that its cheaper to repay cash as I suspect they did with Citi. Hope that makes it a bit clearer
BOE Price at posting:
$3.98 Sentiment: Buy Disclosure: Held
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