http://www.investinganswers.com/financial-dictionary/stock-market/panic-buying-613
Panic buying refers to the purchase of a stock immediately after a sudden, substantial price increase.
How it works/Example:
Investors watching the market may jump to buy a stock immediately after a major move in the stock’s price, hoping to take advantage of the surge in the price.
Why it Matters:
Investors may buy stock for a number of reasons. Fear of being left out of the next big thing, however, is not the best reason. Panic buying usually is the result of the herd instinct among some investors. While there may be some gains on the residual increase in the price spike, it is often too little, too late.
Or, what we saw today could be a classic short squeeze.
http://www.investopedia.com/terms/s/shortsqueeze.asp
DEFINITION of ‘Short Squeeze’
A situation in which a heavily shorted stock or commodity moves sharply higher, forcing more short sellers to close out their short positions and adding to the upward pressure on the stock. A short squeeze implies that short sellers are being squeezed out of their short positions, usually at a loss. A short squeeze is generally triggered by a positive development that suggests the stock may be embarking on a turnaround. Although the turnaround in the stock’s fortunes may only prove to be temporary, few short sellers can afford to risk runaway losses on their short positions and may prefer to close them out even if it means taking a substantial loss.
Friday will be a quadruple witching day, which could lead to volatility and heavy trading.
From your link @ .investinganswers.com
“Witching hours are usually accompanied by considerable volatility in trading volume and stock and derivative prices. As a result, investors can anticipate and plan for the potential effects of these relatively turbulent trading days.
Although index futures and options generally share simultaneous expirations on the third Friday of every month, quadruple witching days only occur on the third Friday of every March, June, September, and December. The last hour of these trading days, from 3 to 4 p.m. EST, is referred to as the quadruple witching hour.
Quadruple witching is similar to triple witching, which only includes the expirations of index futures, index options, and stock options.”