Endeavor Acquisition/ American Apparel (EDA)

[IBL32]

How do you know it was someone initiating a short position at the high? To me it would make more sense that someone was covering an already short position after they saw LULU earnings and got worried. That would make sense to me because there was not a follow through of buying. Either way, LULU has had the same sell off after the initial pop. Its nice to finally get a discussion going here, thanks.