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C, ETFC, BAC, FNM, FRE, WFC With Highest Daily Short Volume On NASDAQ BX Monday

^{Published on 2009-09-01 08:08:47, Last Modified on 2010-12-22 14:42:32 - WOPRAI}
 

September 1, 2009 / M2 PRESSWIRE / BUYINS.NET, www.buyins.net, has reviewed the NASDAQ BX Daily Short Volume Report for Monday, August 31st, 2009 and come to the following statistical conclusions. There were 2,927 stocks with daily short volume reported and total NASDAQ BX trading volume of 310,400,234 shares. Total Daily Short Volume was 163,626,854 shares. 52.71% of all trading on the NASDAQ BX Monday was short selling. The chart below highlights 6 stocks that had the highest daily short volume yesterday. Citigroup (NYSE: C), eTrade Financial (NASDAQ: ETFC), Bank of America (NYSE: BAC), Fannie Mae (NYSE: FNM), Freddie Mac (NYSE: FRE) and Wells Fargo (NYSE: WFC). To access SqueezeTrigger Prices ahead of potential short squeezes beginning, visit http://www.buyins.net.

DATE SYMBOL SHORT VOLUME TOTAL VOLUME MARKET PERCENT

20090831 C 40,935,646 70,467,385 B 58.09%

20090831 ETFC 7,927,192 12,843,715 B 61.72%

20090831 BAC 5,880,253 9,343,732 B 62.93%

20090831 FNM 3,933,422 8,978,290 B 43.81%

20090831 FRE 1,778,711 4,204,340 B 42.31%

20090831 WFC 1,652,861 2,500,047 B 66.11%

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.

Citigroup Inc. (NYSE: C), a global financial services company, provides consumers, corporations, governments, and institutions with a range of financial products and services, including consumer banking and credit, corporate and investment banking, securities brokerage, and wealth management. The company has two primary segments, Citicorp and Citi Holdings. The Citicorp segment operates as a global bank for businesses and consumers with two primary businesses, Institutional Clients Group and Regional Consumer Banks. The Institutional Clients Group business provides transaction services, such as treasury and trade solutions, and securities and fund services; and securities and banking services, including market making, underwriting and advisory, corporate lending, private banking, and institutional asset management. It serves corporate, institutional, public sector, and private banking clients. The Regional Consumer Banks business provides traditional banking services, including retail banking, and branded cards, and small and middle market commercial banking in North America, Asia, Latin America, and Europe, Middle East, and Africa. The Citi Holdings segment has three businesses: Brokerage and Asset Management, Local Consumer Finance, and Special Asset Pool. Brokerage and Asset Management business includes the 49% stake in Morgan Stanley Smith Barney, Nikko Cordial Securities, Nikko Asset Management, and Select Global Asset Management (Retail Alternative Investments) operations. Local Consumer Finance consists of CitiFinancial, Mortgage, Student Loans, Auto Loans, Retail Partner Cards, Primerica, and CRE activities in North America, as well as the International Consumer Finance activates. Special Asset Pool business includes key S&B risk exposures and other covered assets. Citigroup Inc. has approximately 200 million customer accounts and operates in approximately 140 countries. The company was founded in 1812 and is based in New York, New York.

E*TRADE Financial Corporation (NASDAQ: ETFC), through its subsidiaries, provides online brokerage and related products and services primarily to individual retail investors, under the brand name of E*TRADE Financial worldwide. It offers various brokerage products and services, including automated order placement and execution of the U.S. and international equities, currencies, futures, options, exchange-traded funds, mutual funds, and bonds. The company also provides quick transfer, wireless account access, extended hours trading, quotes, research, and advanced planning tools. Its banking products and services include checking, savings, sweep, money market, and certificates of deposit products. E*TRADE Financial primarily provides its services through its Web site at etrade.com, as well as through its network of customer service representatives, relationship managers, and investment advisors. The company was founded in 1982 and is based in New York, New York.

Bank of America Corporation (NYSE: BAC), a financial holding company, provides a range of banking and nonbanking financial services and products in the United States and internationally. Its Global Consumer and Small Business Banking segment offers savings accounts, money market savings accounts, certificate of deposits, individual retirement accounts, and checking accounts; U.S. Consumer and Business Card, unsecured lending, and international card; consumer real estate products, including mortgage products for home purchase and refinancing, reverse mortgage products, and home equity products; and insurance services. The companya�s Global Corporate and Investment Banking segment provides commercial and corporate bank loans, indirect consumer loans, real estate lending products, and leasing and asset-based lending products for banking clients, middle market commercial clients, multinational corporate clients, public and private developers, homebuilders, and commercial real estate firms; advisory services, financing, and related products for institutional investor clients in support of their investing and trading activities; debt and equity underwriting, merger-related advisory services, and risk management solutions; and treasury management, trade finance, foreign exchange, short-term credit facilities, and short-term investing options for correspondent banks, commercial real estate firms, and governments. The companya�s Global Wealth and Investment Management segment offers investment and brokerage services, estate management, financial planning services, fiduciary management, credit and banking expertise, and diversified asset management products to institutional clients and high-net-worth individuals. As of December 31, 2008, the company operated approximately 6,100 banking centers and 18,700 automated teller machines. Bank of America was founded in 1874 and is headquartered in Charlotte, North Carolina.

Fannie Mae (NYSE: FNM), a government-sponsored enterprise, provides liquidity and stability support in the secondary mortgage market in the United States. It securitizes mortgage loans originated by lenders in the primary mortgage market into mortgage-backed securities, which are bought and sold in the secondary mortgage market. The company operates in three segments: Single-Family Credit Guaranty, Housing and Community Development, and Capital Markets. The Single-Family Credit Guaranty segment securitizes single-family mortgage loans into Fannie Mae mortgage-backed securities (MBS) and facilitates the purchase of single-family mortgage loans for the companya�s mortgage portfolio. The Housing and Community Development segment securitizes multifamily mortgage loans into Fannie Mae MBS and facilitates the purchase of multifamily mortgage loans for the companya�s mortgage portfolio. This segment also invests in rental and for-sale housing projects. The Capital Markets segment manages the companya�s investment activity in mortgage loans, mortgage-related securities, debt financing activity, and liquidity and capital positions. The companya�s customers include mortgage banking companies, savings and loan associations, savings banks, commercial banks, credit unions, community banks, insurance companies, and state and local housing finance agencies. Fannie Mae was founded in 1938 and is based in Washington, the District of Columbia.

Freddie Mac (NYSE: FRE) purchases residential mortgages and mortgage-related securities in the secondary mortgage market and securitizes them into mortgage-related securities that can be sold to investors. It operates in three segments: Investments, Single-family Guarantee, and Multifamily. The Investments segment invests primarily in mortgage-related securities and single-family mortgage loans; purchases mortgage loans and mortgage-related securities; and issues short- and long-term debt in the capital markets. The Single-Family Guarantee segment engages in the purchase of single-family mortgages in the primary mortgage market, primarily through its guarantor swap program; securitizes certain mortgages; issues mortgage-related securities that can be sold; and guarantees the payment of principal and interest on single-family mortgage-related securities. The Multifamily segment purchases multifamily mortgages; and guarantees the payment of principal and interest on multifamily mortgage-related securities and mortgages underlying multifamily housing revenue bonds. This segment also holds equity investments in various limited partnerships that sponsor low- and moderate-income multifamily rental apartments. The company primarily serves lenders in the primary mortgage market that originate mortgages for homeowners and apartment owners, including mortgage banking companies, commercial banks, savings banks, community banks, credit unions, state and local housing finance agencies, and savings and loan associations in the United States. Freddie Mac was founded in 1970 and is based in McLean, Virginia.

Wells Fargo & Company (NYSE: WFC), through its subsidiaries, provides retail, commercial, and corporate banking services principally in the United States. The company operates through three segments: Community Banking, Wholesale Banking, and Wells Fargo Financial. The Community Banking segment offers deposit products, including checking accounts, savings deposits, market rate accounts, individual retirement accounts, time deposits, and debit cards. Its loan products include lines of credit, equity lines and loans, equipment and transportation loans, education loans, residential mortgage loans, and credit cards. This segment also provides receivables and inventory financing, equipment leases, real estate financing, small business administration financing, venture capital financing, cash management, payroll services, retirement plans, and merchant payment processing services. The Wholesale Banking segment provides commercial and corporate banking products and services, including commercial loans and lines of credit, letters of credit, asset-based lending, equipment leasing, mezzanine financing, high-yield debt, foreign exchange services, treasury management, investment management, institutional fixed-income sales, commodity and equity risk management, insurance, corporate trust fiduciary and agency services, and investment banking services. This segment also provides banking products for commercial real estate market. The Wells Fargo Financial segment engages in consumer finance and auto finance operations. Consumer finance operations make direct consumer and real estate loans to individuals and purchase sales finance contracts from retail merchants; and finance operations engage in making loans secured by autos. This segment also offers credit cards, as well as lease and other commercial financing products. As of December 31, 2008, Wells Fargo & Company provided its services through 11,000 stores. The company was founded in 1929 and is headquartered in San Francisco, California.

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