While I agree with the consensus opinion that this rise is due to short covering.
However, one thing continues to niggle me and that is why did the shorters not cover before the rebalance?
Everyone (I'm sure the shorters were across it) knew that we were going to be saying au revoir to the ASX200 and the implications of that.
So if it is a short squeeze I'm surprised that we didn't see it rise before the rebalance, or (with fingers and toes crossed) perhaps is there potential imminent good news in the wind?
In reality I'm sure there is a rational explanation why they didn't cover before hand , I just can't see it.
Short Squeeze, page-103
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