Wrong - and I cannot believe I am backing FFF but anytime you sell a position from a buy position that has not settled, you create an open short position. If the securities from the purchase have not been delivered to you, then you need to borrow to cover the securities that you promised to deliver for the sell.
Unfortunately for you, there are too many people who know little about how the market transaction works and spew enough info that it gets believed by those who have never worked in the environment. The focus you have is completely inaccurate as you are focused on the wrong value of the numbers. The more day to day flipping performed, the higher teh short as you define it is, that is why so many idiot spew that and use it incorrectly... Naked shorts - lol anyone who says that does not know what a naked short is...
It is all about the delivery of the securities on settlement. Can you deliver or do you have to borrow the actual securities.... Given that this type of open market trading is pure book entry, it is easy to be fooled.
