No it's not upside down logic. When someone shorts he/she is essentially selling. This adds downward pressure on the stock price. Conversely, when someone closes (covers) his short position he/she is essentially buying. So how can we have all this "covering" as some here say we are, and yet the short interest is higher? My point is OBVIOUSLY (as seen by the latest short interest data) there has been net shorting, not covering.
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