Chart Update, page-8571

UBS takes effective control of the shares when they borrow them, ownership is temporarily passed during the loan period as they can sell an buy as they wish, this causes them to have to issue sub holder Ann's.

The sub holder Ann's only have to be reported after 4 business days, by the time they say they are a sub-holder they are already out and visa versa.

You can clearly see the price movements in the days before the notices by matching the notices to the graphs. (and no I haven't had time to figure out how to collate and publish.) it was me observing the pattern.

Now having short positions can also be used as an insurance against a major correction, i.e. a small short position could make a major return if the market has a serious correction (remembering that you have already sold teh shares at the higher price). I believe this is used by alot of the big boys to 'hedge' a major correction, so a certain amount of shorts will always be held.

A2 has approximately 20 M shares held as shorts over the last couple of years, (ASIC short positions table), not sure why and whilst they may have been refreshed over time, they have been there as long as I can remember, its the volume over 20M that varies.

Hope that helps a tad.