digger..

Since CLL put out a news release on Sept 16th over 13,400,000 shares have trade almost all below $3.00..So yes, it would be pretty safe to assume they're covering. It's always been my belief that the institutions shorting the stock are also the ones buying them up when the price drops..

This is what I think is going on. A short postion is taken, the holder then waits for the price to drop significantly ( or drives it down intentionally) then buys the stock to cover his short postion. The stock is then either accumulated or flipped when it goes back up to the highest support level. The cycle is then repeated.

Now there's nothing wrong with this practice, and in some ways it's benificial, as it allows people to accumulate at low prices and others to day trade. At the end of the day, unless people panic everyone makes money.