Hedge fund trader here. Who do you think shorts are buying from? Panic sellers. But anyway, in equities, which is what most people invest in, the longs greatl

Hedge fund trader here. Who do you think shorts are buying from? Panic sellers. But anyway, in equities, which is what most people invest in, the longs greatly outnumber the shorts. So short covering has a much smaller impact than a reduction in panic selling.