Inova Technology Inc.(fka INVA)

[saladbar]

For heavily shorted stocks, there is a turning point that occurs. Usually it is a series of a few days where:

1. The stock price idles.
2. The bid & ask stays slightly higher than the latest share price consistently throughout the day.
3. When the share price jumps back in line with the bid/ask, small purchases are made at a price slightly lower than the bid in a few last ditch efforts to entice further action in the stock.

The indication being that the shorts have squeezed all that they can from the targeted stock. Today was a classic example. Bought another 2M shares.