Bots, algos whatever it may be, basically the big boys are playing a higher stakes game among themselves while shorters are running for cover. Happy to watch the fun from sidelines....
Have not seen such low level of short position in a long time (2.14% as of Friday).
Did resist the urge to sell any portion of my holdings on this one. Just logged out from online trading account while price is getting crazy or else temptation is too much to push the sell button.
Sure it'll have bad days with big price drops in the short term, however what I've noticed is that drops have been half (or less) of gains of previous day.
Happy to ride the wave for now until the ASM next month by which time we'll have singles day (11/11) trading update and who knows what that'll bring to price.
Onwards and upwards....