Shorts need to close out soon IMO
Who in their right mind would go into earnings announcement with a short position at these SP levels? Most of the shorts are on NQ and more of the sales are on TSX. AT Jan 31, there was 8 days to cover. This is based on market activity which is inflated by trading algorithms flipping shares for pennies and recycling the same shares. My guess is that they will need to have a head start (like now) to cover much of the shorts to get out the door first at a reasonable cost. Last man out the door pays $45 or more IMO.