short selling activity is in evidence but ASIC data reveal that...

short selling activity is in evidence but ASIC data reveal that aggregate short interest has been trending down since the start of 2016 when it was 95million WHC to 83million at 5 Feb.
THis doesn't surprise me since the prospective gain to the shorter declines with every 1 cent fall in the price.
So Ï expect the "no go" area is approaching. And how many of those 83million short will be looking to lock in the gain with the merest hint of a recovery?
Of course whilst " economic headwinds "are running for the shorters some fresh action can be unleashed at the higher prices .
84 million WHC on ASX and about 15million WHC on Chi-X have been traded since the 20 Jan no more a substantial shareholder notice from NoMan Napier. I conclude their selling is now or very nearly exhausted .
Of course other major holders may not be forced sellers but may be tempted to sell into the [ hoped for] recovery.
Meantime Whitehaven- the company- is making a gross profit of $4million per day.