I can assure you that the folks you refer to ain't short. They wouldn't be able to afford the fees on these minor movements. There is very little short action intraday just bots adjusting holdings either way and a MM providing the liquidity for that to happen. The overall short component is moving very marginally.
Look every knows MIN is one of the most traded stocks on the ASX, what you're seeing currently is traders willing to take far smaller margins but to remain safe at all costs. Hence the gyrations.
But if you did a breakdown of short position fees then you'd realise what I mean. That's a big boys game only. IMO
MIN is currently going sideways married to the bollie median. Not giving off either Buy or Sell signals. Wait a week or so.
Cheers
(20min delay)