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CIT, DELL, VALE, NOK, S, JPM With Highest Daily Short Volume On NYSE Yesterday

^{Published on 2009-08-28 09:21:20, Last Modified on 2010-12-22 14:41:48 - WOPRAI}
 

August 28, 2009 / M2 PRESSWIRE / BUYINS.NET, www.buyins.net, has reviewed the NYSE Daily Short Volume Report for Wednesday, August 27th, 2009 and come to the following statistical conclusions. There were 6,403 stocks with daily short volume reported and total NYSE trading volume of 1,242,361,546 shares. Total Daily Short Volume was 591,427,658 shares. 47.60% of all trading on the NYSE yesterday was short selling. The chart below highlights 6 stocks that had the highest daily short volume yesterday. CIT Group (NYSE: CIT), Dell Computer (NASDAQ: DELL), Vale SA (NYSE: VALE), Nokia (NYSE: NOK), Sprint Nextel (NYSE: S) and JP Morgan Chase (NYSE: JPM). To access SqueezeTrigger Prices ahead of potential short squeezes beginning, visit http://www.buyins.net.

Date Symbol Short Volume Total Volume Market Percent

20090827 CIT 5,124,523 11,113,232 P 46.11%

20090827 DELL 3,767,272 9,456,755 P 39.84%

20090827 VALE 3,229,056 5,309,444 P 60.82%

20090827 NOK 2,546,035 4,157,100 P 61.25%

20090827 S 2,364,973 4,326,252 P 54.67%

20090827 JPM 2,038,057 3,272,620 P 62.28%

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� 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.

CIT Group Inc. (NYSE: CIT) operates as the holding company for CIT bank that provides commercial financing and leasing products, and management advisory services to the small and middle market companies worldwide. Its products principally include asset based loans; secured lines of credit; operating, capital, and leveraged leases; vendor finance programs; import and export financing; debtor-in-possession/turnaround financing; acquisition and expansion financing; letters of credit/trade acceptances structuring; and small business loans. The companya�s services primarily comprise financial risk management; asset management and servicing; merger and acquisition advisory services; debt restructuring; credit protection; accounts receivable collection; debt underwriting and syndication; capital markets; and insurance services for small businesses and middle market customers. It serves clients in various industries, including transportation, particularly aerospace and rail, manufacturing, wholesaling, retailing, healthcare, communications, media and entertainment, and various service-related industries. The company was founded in 1908 and is headquartered in New York, New York.

Dell Inc. (NASDAQ: DELL), together with its subsidiaries, engages in the design, development, manufacture, marketing, sale, and support of computer systems and services worldwide. It offers desktop PCs and workstations; notebook computers; servers and networking products; and storage solutions, including storage area networks, network-attached storage, direct-attached storage, disk and tape backup systems, and removable disk backup. The company also offers third party software products, which comprise operating systems, business and office applications, anti-virus and related security software, and entertainment software; peripheral products, including software titles, printers, televisions, notebook accessories, networking and wireless products, digital cameras, power adapters, scanners, and other products; and displays, including flat panel monitors and projectors. In addition, it provides infrastructure consulting services, deployment services, asset recovery and recycling services, training services, support services, and managed services. Further, the company provides a range of financial services, including originating, collecting, and servicing customer receivables related to the purchase of Dell products; and financing alternatives, asset management services, and other customer financial services for business and consumer customers. Its customers comprise large corporate, government, healthcare, and education accounts, as well as small and medium businesses, and individual consumers. The company sells its products and services directly to customers through sales representatives, telephone-based sales, and online at www.dell.com, as well as through various indirect sales channels. It has a strategic alliance agreement with Perot Systems Corp., which provides integrated IT solutions. Dell Inc. was founded in 1984 and is headquartered in Round Rock, Texas.

Companhia Vale do Rio Doce (NYSE: VALE), through its subsidiaries, operates as a diversified metals and mining company worldwide. The company produces iron ore and iron ore pellets, nickel, manganese ore, ferroalloys, and kaolin. It also engages in producing bauxite, alumina, aluminum, copper, metallurgical and thermal coal, metallurgical coke and methanol, cobalt, potash, and other non-ferrous minerals, as well as precious metals, including platinum-group metals, gold, and silver. In addition, the company operates logistics systems in Brazil, including railroads, maritime terminals, and a port. Further, it engages in hydroelectric power generation and steel production. The company was founded in 1942 and is headquartered in Rio de Janeiro, Brazil.

Nokia Corporation (NYSE: NOK) manufactures mobile devices, and provides Internet services and digital map information worldwide. The companya�s Devices & Services segment designs, develops, and manages its mobile device portfolio, including the sourcing of components. It also offers consumer Internet services in music, maps, media, messaging, and games and working areas. Its NAVTEQ segment provides digital map information and related location based content and services for automotive navigation systems, mobile navigation devices, Internet-based mapping applications, and government and business solutions. Its map database enables its customers to offer dynamic navigation, route planning, location-based services, and other geographic information-based products and services to consumer and commercial users. This segment also provides its database to mobile device and handset manufacturers, automobile manufacturers and dealers, navigation systems manufacturers, software developers, Internet portals, parcel and overnight delivery services companies, and governmental and quasi-governmental entities. The companya�s Nokia Siemens Networks segment provides wireless and fixed network infrastructure, communications, and networks service platforms, as well as professional services to operators and service providers. It develops GSM, EDGE, and 3G/WCDMA/HSPA radio access networks and cellular transmission; develops network solutions for mobile and fixed network operators; focuses on transport networks, and provides a portfolio for the wire line connectivity area; and provides network and service management software and charging and billing software. This segment also offers operators a range of professional services, from consultancy to outsourced operations; systems integration to hosting; and network design to network care, including network implementation and turnkey solutions, as well as markets mobile WiMAX solutions. The company was founded in 1865 and is based in Espoo, Finland.

Sprint Nextel Corporation (NYSE: S) offers wireless and wireline communications products and services to consumers, businesses, and government users in the United States and internationally. Its Wireless segment provides wireless mobile voice and data transmission services on networks that utilize CDMA and iDEN technologies. Its wireless mobile voice communications services include basic local and long distance wireless voice services, voicemail, call waiting, three way calling, caller identification, directory assistance, call forwarding, speakerphone, and voice-activated dialing features, as well as roaming services; and wireless data communications services comprise Internet access and messaging, email services, wireless photo and video offerings, and mobile entertainment applications, as well as asset and fleet management, dispatch services, and navigation tools. This segment also offers walkie-talkie services; and sells accessories, such as carrying cases, hands-free devices, batteries, and battery chargers, as well as handsets and accessories to agents and other third-party distributors for resale. In addition, it provides Sprint-branded post-paid, Boost Mobile-branded prepaid, and wholesale wireless services over the companya�s CDMA network in the United States, Puerto Rico, and the U.S. Virgin Islands; and Nextel-branded post-paid and Boost Mobile-branded prepaid wireless services over the iDEN network. The companya�s Wireline segment provides wireline voice and data communications services, including domestic and international data communications using various protocols, such as multi-protocol label switching, Internet protocol (IP), IP-based frame relay, managed network services, voice over IP, and traditional voice services. It also offers wide-area network and long distance services, as well as operates an all-digital long distance and 40 gigabyte capacity Tier 1 IP network. Sprint Nextel was founded in 1899 and is headquartered in Overland Park, Kansas.

JPMorgan Chase & Co. (NYSE: JPM), a financial holding company, provides a range of financial services worldwide. It operates in six segments: Investment Bank, Commercial Banking, Treasury & Securities Services, Asset Management, Retail Financial Services, and Card Services. Investment Bank segment provides investment banking products and services, including advising on corporate strategy and structure, capital raising in equity and debt markets, risk management, market-making in cash securities and derivative instruments, and prime brokerage and research. It serves corporations, financial institutions, governments, and institutional investors. Retail Financial Services segment offers regional banking, mortgage banking, and auto finance services that include checking and savings accounts, mortgages, home equity and business loans, and investments through bank branches, ATMs, online banking, and telephone banking. Card Services segment issues credit cards and processes MasterCard and Visa payments. Commercial Banking segment provides lending, treasury services, investment banking, and asset management services to corporations, municipalities, financial institutions, and not-for-profit entities. Treasury and Securities Services segment offers transaction, investment, and information services. It also offers cash management, trade, wholesale card, and liquidity products and services to small and mid-sized companies, multinational corporations, financial institutions, and government entities. Asset Management segment provides investment and wealth management services to institutions, retail investors, and high-net-worth individuals. It also offers global investment management in equities, fixed income, real estate, hedge funds, private equity, and liquidity, including money market instruments and bank deposits; provides trust and estate, banking, and brokerage services; and retirement services. JPMorgan Chase & Co. was founded in 1823 and is headquartered in New York, New York.

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