Maybe - hard to tell how much, if any, covering occurred today. My unscientific guess is not much. I would think that shorts woke up very uncomfortable today, and probably hung through the day to see if ERII would give back its AH and PM gains.
Given that ERII ultimately held 7 today, I would think a lot of shorts (and their brokers!) are taking a second lok at how long they can hang in the trade.
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