InspireMD Inc (NSPR)

[Longer Than Most]

Ran to $5 so quickly because so many shorts were on this ticker, as soon as it started to bounce, it ran to 5 quick.

585k shares were short yesterday and was around that amount for the last few sessions, roughly 50% of the OS. After the double bottom formed I figured shorts should start to cover. Sure enough today’s short report shows only 81k shares short (86% decrease).

A little less resistance going forward for $NSPR should help it break and hold above $5. If it can fill the gap and head towards $6 then i think things could get interesting. I’ve been watching this for years and think it’s very overdue for a run. A push above $8.50 and this could see a big squeeze. Biotechs always seem to be the ones that see the craziest reversals, and this dog has been beaten down for so so long.