The updated number as of July 31, 2015 is 96,400, still a healthy size, but its down substantially from the 162,200 number that was reported up this past July 15th.

Its common on stock social media sites such as this to view short sellers as an enemy to be vanquished, I myself you to ascribe to that very view. Time and experience however has taught me that it is not wise to underestimate an opponent, that applies to the sporting field, the battle field, or to the public markets.

I've gained enormous respect in fact for short sellers. While taking on enormous risks they provide two essential elements for a rational market. Firstly they reduce volatility, while markets can be highly volatile, as holders of RVX have witnessed these past 6 months or so, if short sellers weren't around I would argue we would see wild and insane swings with stocks going from insane exhuberance to suicidal despair regularily and sharply. Second and just as important, they provide liquidity.

The fact that short sellers had been covering up to the 31st of July is encouraging. I believe short sellers are smart, they know how to make money. And there is no arguing those going short in April when RVX was trading at prices up to and just over $3 have been making solid capital (not paper) gains by covering over 65,000 shares between July 15th and the 31st.

Short sellers are smart, and the smart play for a short seller is to sell high (in the upper $2s and around $3) and then cover low. If short sellers thought the PPS was going to fall substantially more, then the smart play would be to hold of covering, or in fact short even more. There have been 3 days of trading since July 31st without about 100,000 shares total trading, I am hoping that with the further erosion in the PPS that short sellers have been able to measurably reduce the 96,400 remaining shorted shares.

While we've been down steadily and significantly since April I think a period of increased volatitlity is going to be coming our way, and I'm bullishly hopeful that the overall trend during any such volatile period will be, on balance, upward.