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Short Sale Recap. Highest % Of Daily Trading Volume Short All Exchanges Combined For Wednesday

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  Published in Stocks and Investing on Wednesday, October 21st 2009 at 18:17 GMT, Last Modified on 2010-12-22 17:18:03 by WOPRAI
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October 22, 2009 / M2 PRESSWIRE / BUYINS.NET, www.buyins.net, has reviewed the NYSE, NASDAQ, BX, CHX and NSX Daily Short Volume Report for Wednesday, October 21st, 2009 and come to the following statistical conclusions. The chart below highlights 6 stocks that had unusually high percentages of their total daily trading volume attributed to short sales. Sunair Services (AMEX: SNR), Edenor SA (NYSE: EDN), Benihana (NASDAQ: BNHN), LECG Corp (NASDAQ: XPRT), OpenTable (NASDAQ: OPEN) and Wintrust Financial Corp (NASDAQ: WTFC). To access SqueezeTrigger Prices ahead of potential short squeezes beginning, visit http://www.buyins.net.

Symbol Short Volume Total Volume Percent

SNR 54,400 62,650 86.83%

EDN 49,905 67,600 73.82%

BNHN 26,124 40,982 63.75%

XPRT 65,068 109,939 59.19%

OPEN 91,874 159,529 57.59%

WTFC 238,430 442,408 53.89%

In late October 2008 the SEC updated Regulation SHO requiring that all short sellers must locate, borrow and deliver any shares they have shorted, no exceptions, by T+3 settlement date. If not, a buy-in must be forced by the broker dealer that the short seller transacted through by the opening of the market on T+4. Since a company first appears on the naked short list when short sellers have been failing to deliver for 5 consecutive trading days, stocks should theoretically never be on the naked short list again. BUYINS.NET will monitor the exchangesa'a" naked short lists daily and issue an alert and notify the SEC and FINRA should short sellers fail to deliver on any short sales.

Reg SHO Rule 204 (i) requires brokers to deliver shares on long and short sales of publicly traded equity securities by settlement date, (ii) continues to require brokers to close-out fails to deliver by the beginning of trading on T+4 for short sales and T+6 for long sales, (iii) precludes clearing brokers and their introducing brokers from selling short a security, other than on a pre-borrowed basis, if a fail to deliver in that security is not timely closed out until the fail is closed out and that close-out transaction settles, (iv) allows clearing brokers to allocate fails to introducing brokers and (v) continues to permit brokers to rely upon pre-fail credit to satisfy Rule 204's close-out requirement to avoid the pre-borrow requirements when a fail at a clearing broker has not been closed out. However, the SEC liberalized certain of these provisions in several regards. For example, permanent Rule 204 now allows a broker to close-out a fail on a long sale by borrowing the security, whereas Rule 204T had only permitted closing out long fails by buying-in, which should alleviate some of the buy-in risk for investors that experience long fails. Similar relief was extended to close-outs for market maker fails, so that a fail from a bona fide market making transaction (including short and long fails) can now be closed out by the beginning of trading on T+6 by borrowing the security. Further, Rule 204 now permits a broker to borrow securities to obtain pre-fail credit for early close-outs, whereas temporary Rule 204T only permitted pre-fail credit to be obtained by purchases of securities.

The SEC refused requests to extend the close-out deadline for fails to deliver to the close of business on the close-out deadline, choosing instead to retain the requirement that all fails be closed out by the beginning of trading on the applicable close-out deadline. The Commission also rejected requests for a fail to deliver exception that would have provided an exception from the close-out requirements if a clearing broker's fail position was below a certain amount but said that it would continue to monitor whether a de minimis or odd lot exception could be warranted.

Sunair Services Corporation (AMEX: SNR), through its subsidiary, Middleton Pest Control, Inc., provides lawn care and pest control services to residential and commercial customers in Florida. It offers pest control services and protection against termite damage, rodents, and insects to homes and businesses. The company supplies lawn care services to homes and businesses, which include fertilization treatments and protection against disease, weeds, and insects for lawns and shrubs. Sunair Services Corporation, formerly known as Sunair Electronics, Inc., was founded in 1956 and is based in Deerfield Beach, Florida.

Empresa Distribuidora y Comercializadora Norte Sociedad Anonima (NYSE: ENR) engages in the distribution and sale of electricity in Argentina. The company, through a concession, distributes electricity primarily to the northwestern zone of the greater Buenos Aires metropolitan area and the northern part of the city of Buenos Aires. It serves residential, small and medium commercial, industrial, and wheeling system customers, such as large users who purchase their electricity requirements directly from generation, as well as the public lighting and shantytown customers. Empresa Distribuidora y Comercializadora Norte Sociedad Anonima was formerly known as Empresa Distribuidora Norte Sociedad Anonima and changed its name to Empresa Distribuidora y Comercializadora Norte Sociedad Anonima in June 1996. The company was founded in 1992 and is headquartered in Buenos Aires, Argentina. Empresa Distribuidora y Comercializadora Norte Sociedad Anonima is a subsidiary of Electricidad Argentina S.A.

Benihana Inc. (NASDAQ: BNHN) operates 98 restaurants nationwide, including 64 Benihana teppanyaki restaurants, nine Haru sushi restaurants, and 25 RA Sushi Bar restaurants. Under development at the present time is one Benihana teppanyaki restaurant. In addition, 22 franchised Benihana teppanyaki restaurants are operating in the U.S., Latin America and the Caribbean.

LECG Corporation (NASDAQ: XPRT) provides expert testimony, original authoritative studies, and strategic advice to companies and law firms, as well as local, state, and federal government agencies in the United States and internationally. It operates in two segments: Economics Services, and Finance and Accounting Services. The Economics Services segment offers services in the areas of merger reviews, monopolization claims, cartels, and quantification of damages; litigation support, independent expert testimony, and business advisory services, including issues of statistical liability in discrimination, wrongful termination, and wage and hour claims; energy, environment and natural resources, telecommunications, transportation, and financial claims; and allegations of securities fraud, valuation of complex securities, and capital market transactions, such as mergers and acquisitions. The Finance and Accounting Services segment offers electronic discovery, financial services, forensic accounting, healthcare, higher education, intellectual property, and international finance and accounting services. The company was founded in 1988 and is headquartered in Emeryville, California.

OpenTable, Inc. (NASDAQ: OPEN), together with its subsidiaries, provides restaurant reservation solutions. It offers solutions that form an online network connecting reservation-taking restaurants and people who dine at those restaurants. The company provides electronic reservation book (ERB), an integrated software and hardware solution that computerizes restaurant host-stand operations. The ERB processes for restaurants, including reservation management, table management, guest recognition, and email marketing. It also operates opentable.com, a restaurant reservation Website that enables diners to find, choose, and book tables at restaurants on the OpenTable network in real time. OpenTable, Inc. operates in the United States, Canada, Mexico, Europe, and Asia. The company, formerly known as OpenTable.com, Inc., was founded in 1998 and is headquartered in San Francisco, California.

Wintrust Financial Corporation (NASDAQ: WTFC), through its subsidiaries, engages in community banking, specialty lending, and wealth management businesses in the United States. Its community banking business offers banking and financial services primarily to individuals, small to mid-sized businesses, local governmental units, and institutional customers. These services include deposit products, such as demand, negotiable order of withdrawal, money market, savings, and time deposit accounts; home equity, home mortgage, consumer, real estate, and commercial loans; safe deposit facilities; automated teller machines; and Internet banking services. The companya�s specialty lending business offers financing for the payment of commercial insurance premiums; short-term accounts receivable financing; out-sourced administrative services, including data processing of payrolls, billing, and cash management services to customers in the temporary staffing industry, as well as engages in the origination and purchase of residential mortgages for sale into the secondary market and provides the document preparation and other loan closing services to a network of mortgage brokers. These products are marketed through insurance agents and brokers to their small and mid-size corporate clients. Wintrust Financial Corporationa�s wealth management business provides trust and investment services, asset management, and securities brokerage services, which are marketed primarily under the Wayne Hummer name. As of December 31, 2008, it operated 79 banking offices. The company was founded in 1992 and is based in Lake Forest, Illinois.

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BUYINS.NET has built a massive database that collects, analyzes and publishes a proprietary SqueezeTrigger for each stock that has been shorted. The SqueezeTrigger database of nearly 2,650,000,000 short sale transactions goes back to January 1, 2005 and calculates the exact price at which the Total Short Interest is short in each stock. This data was never before available prior to January 1, 2005 because the Self Regulatory Organizations (primary exchanges) guarded it aggressively. After the SEC passed Regulation SHO, exchanges were forced to allow data processors like Buyins.net to access the data.

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