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Is today the short’s last stand?

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Today - and a few more days like it - are actually what keeps the shorts away. At least the non-nefarious shorts who are just playing chart patterns - this doesn't apply to shorts being funded by Big Pharma.

We were starting to get a bit overextended (too far, too fast - with no news catalyst) on the daily chart, and overextension attracts day trader-type shorts who are attracted to overextended stocks. There's even an acronym for the pattern, OEG - overextended gap down. If we can put in a few more days of consolidation in the $1.00-$1.30 area, we'll be more primed for the next leg up and we'll be less attractive to short-biased day traders because we're no longer overextended.

You can see this play out on the chart during the run from the low .40s to .87. After the SP hit .87 it pulled back and consolidated for 5 days before this most recent leg up.

Long-winded way of saying that what we're seeing today is very healthy price action for a longer-termed uptrend.