Capitulation? US Equity Bears Dump Shorts Fastest Since 2012

The last ten weeks have seen a 29% surge in "Most Shorted" stocks - that is the largest such move on record (creating the biggest rebound in stocks since 1933).

 

This huge short-squeeze began as S&P Large Speculators were the "shortest" since Dec 2011 and those shorts have covered non-stop since. In fact, the last 4-weeks saw a huge 27,347 'net' contracts covered - the most during a bear-positioning since May 2012.

 

 

The question is - did this represent a capitulation (like in Nov/Dec)?