If the guys behind the shorts are trading straight up on their expectation for the market then this would be a reflection that the price would not go any lower or at least much lower. The evidence in justification of this is that we are no longer seeing panic selling whenever there is a dump. The countervailing evidence to this is the fact that they are "manipulators" so we wouldn't expect them to trade straight up and although there isn't panic with a dump there also isn't exuberance with a pump (there is almost no volume outside of the whales, period).

The alternative is that they are just letting the price drip upwards into the high 480s/low 490s and then they are going to drop the elbows again, bring the price down to about 460 and then close out their shorts that have an average value of about $480 at a bid with an average price of $465 to $470. Even without the panic by traders, it's pretty obvious that such a strategy would be profitable in the short-term.

That said, how long are the big boys like Draper going to allow this s--- to go on before they intervene and trade within the market rather than off the market to pump the price and preserve the brand. You don't need regulation if you have opposing manipulators because it works out in the wash, but lately we've only had one side of the equation and, looking at the volume after the pumps, it's done considerable damage to general sentiment and risk appetites.


This is me not being hyperbolic or ornery. Wait a few days... I'll be irritating again in no time.