From Schaeffers Research, PALM has 46% short interest to float.
Amid the very high short interest ratio, PALM is still advancing today. As highlighted in the article, when stocks are advancing amid high short interest, it could be a sign of shorts covering.
Nonetheless, as far as PALM is concern, we have to continue monitor closely with a tight stop loss.
1. We know that the quarterly result is going to be bad.
2. A lot of things are pinned on Palm Pre and Sprint
3. If you short it now, you run the risk of them announcing the launch date for Palm Pre
4. At the same time, if the management keeps their lips so tight during the earnings conference, it may suggest that things may be delay and the shorts will have a very happy day.
For now, I will just keep a close watch.