Volume of trades alone is not a great indicator for Quantifying how many shares may have been shorted. It can Qualify that a short position does indeed exist, but the volume alone does not tell you how many were buys and how many were sells. Just because 2.2 billion shares were traded last year doesn't mean that 1.5 to 2 billion of them were short sells. I'm taking these figures with a big grain of salt. The only thing we can be sure of is that there is a short position and it may be larger than 100 million shares. Anything else is blind speculation and wishful thinking.
Course, I wouldn't mind if there was a 1.5 billion share short position. :-)
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