If ever there was a sign of shorters attempting to protect their positions then yesterdays trading in FXJ was it.
The ASX Daily Shortsell report states that 5,360,479 shares were traded short yesterady. This is out of a total 6,210,601 shares traded in FXJ = 86%.
My guess is that we are back to over 15% of the book currently short this stock. And yet the share price is still appreciating.