I think you are absolutely correct, moreover IMO there is no 'short squeeze' shorts are simply working the stock to take advantage of the weak longs that have always held this stock - short high cover lower, repeat.
Dissapointing that there is not more institutional interest by now.
Unfortunately there are no short term catalysts until they blow their own ridiculously understated earnings estimate away again (there will be no actual buy back and no dividend IMO and no realistic 2011 forward guidance either for that matter)
So as weak longs become impatient, doubtful and shaken out, it's more likely to settle at a lower level than now but at least much higher than a couple of months ago.
Unfortunately too much doubt and uncertainty in the wider economy and markets for China small caps to outperform doesn't help, even this one, which is best of them all and an outstanding business compared to any other,anywhere IMO.
