Speculating that today's movement is the result of short covering is perfectly reasonable....however when I do my blog post I'm not even going to mention short selling, that may be surprising coming from me however there's a reason.

I don't think most people really understand the mechanics of going short, the borrowing....margin requirements, covering.  I ask people who invest all the time if they can explain how short selling works and more often than not I'm hit with the simplistic explanation that its a "bet" that a stock is going to drop.  When I ask for details on how one takes out a short position.....crickets most of the time.

So....to use an old expression, sod on it.