



51.04% Of All NASDAQ Trading Friday Was Short Selling. FTBK, HIBB, WFSL, ARTG, JOSB, TFSL With Highest % Of Daily Trading Volu
August 31, 2009 / M2 PRESSWIRE / BUYINS.NET, www.buyins.net, has reviewed the NASDAQ Daily Short Volume Report for Friday, August 28th, 2009 and come to the following statistical conclusions. There were 6,619 stocks with daily short volume reported and total NASDAQ trading volume of 1,740,050,478 shares. Total Daily Short Volume was 888,154,674 shares. 51.04% of all trading on the NASDAQ Friday was short selling. The chart below highlights 6 stocks that had unusually high percentages of their total daily trading volume attributed to short sales. Frontier Financial (NASDAQ: FTBK), Hibbett Sports (NASDAQ: HIBB), Washington Federal (NASDAQ: WFSL), Art Technology Group (NASDAQ: ARTG), Jos. A Bank Clothiers (NASDAQ: JOSB) and TFS Financial (NASDAQ: TFSL). To access SqueezeTrigger Prices ahead of potential short squeezes beginning, visit http://www.buyins.net.
DATE SYMBOL SHORT VOLUME TOTAL VOLUME MARKET PERCENT
20090828 FTBK 149,633 186,346 Q 80.30%
20090828 HIBB 134,112 168,944 Q 79.38%
20090828 WFSL 199,785 260,346 Q 76.74%
20090828 ARTG 283,339 382,213 Q 74.13%
20090828 JOSB 126,279 171,391 Q 73.68%
20090828 TFSL 108,565 148,785 Q 72.97%
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 exchangesai 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.
Frontier Financial Corporation (NASDAQ: FTBK) operates as the holding company for Frontier Bank that provides various commercial banking services. It primarily engages in generating deposits and originating loans. The companyais deposit products include demand (checking), NOW, money market, sweep, savings, and certificates of deposit. Its loan portfolio comprises real estate loans, including commercial real estate term loans, construction loans, land development loans, completed lot loans, and residential 1-4 family loans; commercial and industrial loans used to provide working capital or for various purposes, such as to finance the purchase of fixed assets, equipment, or inventory, as well as lines of credit and term loans; and loans for consumer use, such as auto loans, boat loans, home improvement loans, revolving lines of credit, VISA credit cards, and other loans. Frontier Financial Corporation also offers other financial services, including an insurance and investment center that markets annuities, life insurance products, and mutual funds to its customers and the general public; a trust department that offers an array of trust services; and a private banking department to provide personal service to high net worth customers. As of December 31, 2008, it operated 51 offices in western Washington and Oregon. The company was founded in 1978 and is based in Everett, Washington.
Hibbett Sports, Inc. (NASDAQ: HIBB) operates sporting goods retail stores in small to mid-sized markets primarily in the southeast, southwest, Mid-Atlantic, and lower Midwest regions of the United States. Its stores offer footwear, athletic equipment, and apparel for school, athletic, and youth programs to educational institutions and youth associations. As of January 31, 2009, it operated 745 retail stores comprising 723 Hibbett Sports stores, 18 Sports Additions athletic shoe stores, and 4 Sports & Co. superstores in 24 states. The company was formerly known as Hibbett Sporting Goods, Inc. and changed its name to Hibbett Sports, Inc. in January 2007. Hibbett Sports was founded in 1945 and is headquartered in Birmingham, Alabama.
Washington Federal, Inc. (NASDAQ: WFSL) operates as the holding company for Washington Federal Savings, which provides various financial services in the United States. The companyais deposit products include checking accounts, passbook and statement accounts, money market accounts, and time deposits or certificate accounts. Its loan portfolio comprises first lien mortgages on single-family dwellings, construction loans, land acquisition and development loans, loans on multi-family and other income producing properties, home equity loans, and business loans. The company also engages in the real estate investment and insurance brokerage activities. As of September 30, 2008, it had 148 full service branches located in Washington, Oregon, Idaho, Arizona, Utah, Nevada, New Mexico, and Texas. The company was founded in 1917 and is headquartered in Seattle, Washington.
Art Technology Group, Inc. (NASDAQ: ARTG) develops and markets e-commerce software products and software-as-a-service solutions, and related services. It offers ATG Commerce, which enables clients to personalize the online buying experience and find desired products, comparison shop, register for gifts, pre-order products, and redeem coupons; ATG Adaptive Scenario Engine that provides a technology and functionality to allow its clients to develop and manage e-commerce applications across channels; ATG Commerce Search, which incorporates natural language technology into clientsai online storefronts to enable shoppers to navigate clientsai e-commerce sites and find merchandise; and ATG Merchandising, which enables merchandising professionals to manage catalogs, products, search facets, promotions, pricing, coupons, and special offers. The company offers ATG Content Administration, a Web content management solution to support creation, version tracking, preview, editing, revision, approval, and site deployment of personalized Web sites; ATG Outreach, which enables clients to create personalized outbound marketing and service campaigns; ATG Self-Service, which enables consumers to access personalized answers to questions; ATG Commerce Service Center provides e-commerce support for call center agents to create and manage orders in a browser based application for the Web and call-center environments; ATG Knowledge that assists call center agents and help-desk personnel to find the answers to customer inquiries; ATG Campaign Optimizer assists marketing professionals in defining comparative tests of offers, promotions, and product representations; and ATG Customer Intelligence, a solution to monitor and analyze commerce and customer care performance. The company also offers support and maintenance, professional services, application hosting, and e-commerce optimization services solutions. Art Technology Group was founded in 1991 and is headquartered in Cambridge, Massachusetts.
Jos. A. Bank Clothiers, Inc. (NASDAQ: JOSB), together with its subsidiaries, engages in designing, retailing, and direct marketing menais tailored and casual clothing, and accessories in the United States. Its products include tuxedos, suits, shirts, vests, ties, sport coats, pants, sportswear, overcoats, sweaters, belts and braces, socks, underwear, and shoes. The company sells its products under the Jos. A. Bank label through retail stores, catalog, and Internet, as well as through franchise stores. As of January 31, 2009, it operated 460 stores located in 42 states and the District of Columbia. The company was founded in 1905 and is based in Hampstead, Maryland.
TFS Financial Corporation (NASDAQ: TFSL) operates as the holding company for Third Federal Savings and Loan Association of Cleveland and Third Capital, Inc. that provides retail consumer banking services in Ohio and Florida. Third Federal Savings and Loan Association offers various deposit accounts, including savings accounts, NOW accounts, certificates of deposit and individual retirement accounts, and other qualified plan accounts. It also originates residential real estate mortgage loans; equity loans and equity lines of credit; and construction loans for the purchase of developed lots and for the construction of single-family residences, as well as commercial and consumer loans. As of September 30, 2008, Third Federal Savings and Loan Association offered its services through 46 banking facilities. Third Capital engages in net lease transactions of commercial buildings; maintains investments in private equity funds; provides escrow and settlement services; and reinsures private mortgage insurance on residential mortgage loans. The company was founded in 1938 and is based in Cleveland, Ohio. TFS Financial Corporation is a subsidiary of Third Federal Savings and Loan Association of Cleveland, MHC.
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WWW.BUYINS.NET is a service designed to help bonafide shareholders of publicly traded US companies fight naked short selling. Naked short selling is the illegal act of short selling a stock when no affirmative determination has been made to locate shares of the stock to hypothecate in connection with the short sale. Buyins.net has built a proprietary database that uses Threshold list feeds from NASDAQ, AMEX and NYSE to generate detailed and useful information to combat the naked short selling problem. For the first time, actual trade by trade data is available to the public that shows the attempted size, actual size, price and average value of short sales in stocks that have been shorted and naked shorted. This information is valuable in determining the precise point at which short sellers go out-of-the-money and start losing on their short and naked short trades.
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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