I can see where your assumptions on the movement and volume make some sense....in addition...IMO Thursday's move had to do with a lot of the following shares being "covered"
Short Interest for February 29 2008
|
Short Interest |
Percent Change |
Average Daily Share Volume |
Days to Cover |
186,639 |
1,455.33 |
792,372 |
1.00 |
|
I'd bet most, if not all, of those shorts are gone now.