Re: One hypothesis for OSTK spike
If I may,from watching many heavy shorted stocks the last 3 weeks,nearly 100% of them are tied to the SPY. If the SPY drops,it goes down further,as SPY rises for days many programs kick in and short covering starts. I'll give you an example.
EXAS heavy shorted,light float,was 60 months ago. SPY drops along with markets,shorts pile on,drop to 38 just this week.The last few days from 38 to 46 it has risen. What is really neat to observe on the 1 minute chart is you split your screen and run OSTK with SPY and watch the ticks. They rise and drop together. A cover program was intact on EXAS yesterday,it gained like 3.50 or something at close. I do not own EXAS. Patrick has most of my $$..Thanks Roll