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47.8% Of All NYSE Trading Wednesday Was Short Selling. DAN, ACV, RCI, VTG, PDE, VR Highest % Of Daily Trading Volume Short

^{Published on 2009-09-03 07:32:52, Last Modified on 2010-12-22 14:42:44 - WOPRAI}
 

September 3, 2009 / M2 PRESSWIRE / BUYINS.NET, www.buyins.net, has reviewed the NYSE Daily Short Volume Report for Wednesday, September 2nd, 2009 and come to the following statistical conclusions. There were 6,394 stocks with daily short volume reported and total NYSE trading volume of 1,231,057,984 shares. Total Daily Short Volume was 588,086,247 shares. 47.8% of all trading on the NYSE Wednesday was short selling. The chart below highlights 6 stocks that had unusually high percentages of their total daily trading volume attributed to short sales. Dana Holding Corp (NYSE: DAN), Alberto-Culver (NYSE: ACV), Rogers Communications (NYSE: RCI), Vantage Drilling (NYSE: VTG), Pride International (NYSE: PDE) and Validus Holdings (NYSE: VR). To access SqueezeTrigger Prices ahead of potential short squeezes beginning, visit http://www.buyins.net.

Date Symbol Short Volume Total Volume Market Percent

20090902 DAN 180,009 207,959 P 86.56%

20090902 ACV 111,880 132,980 P 84.13%

20090902 RCI 122,554 148,319 P 82.63%

20090902 VTG 247,253 319,453 P 77.40%

20090902 PDE 604,904 801,730 P 75.45%

20090902 VR 105,654 140,678 P 75.10%

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.

Dana Holding Corporation (NYSE: DAN) engages in the design, manufacture, and supply of products for vehicle manufacturers worldwide. It offers light axles, driveshafts, structural and thermal management products, sealing products, and related service parts for light trucks, sport utility vehicles, crossover utility vehicles, vans, and passenger cars. The companyais products also include chassis and suspension modules, ride controls and related modules and systems, engine sealing products, thermal products, and related service parts for medium- and heavy-duty trucks, buses, and other commercial vehicles. In addition, it offers transaxles, suspension components, transmissions, and electronic controls for construction machinery, leisure/utility vehicles, and various non-vehicular industrial applications, as well as for outdoor power, agricultural, mining, forestry, and material handling equipment. The company offers its products under the Spicer, Victor Reinz, Parish, and Long brand names. It serves vehicle manufacturers in the automotive, commercial vehicle, and off-highway markets. The company was formerly known as Dana Corporation and changed its name to Dana Holding Corporation in February 2008. Dana Holding Corporation was founded in 1904 and is headquartered in Toledo, Ohio.

Alberto-Culver Company (NYSE: ACV) and its subsidiaries operates in consumer packaged goods and Cederroth international businesses. The consumer packaged goods business develops, manufactures, distributes, and markets branded beauty care products, as well as branded food and household products in the United States and approximately 100 other countries. The Cederroth International business manufactures, markets, and distributes beauty and health care products in Scandinavia and in other parts of Europe. Its beauty and health care products include various hair care products, skin care products, feminine deodorant sprays, and ethnic hair care products; and food and household products comprise salt-free seasoning blends, anti-static spray, butter flavored sprinkles, sugar substitutes, and furniture polish. The company also offers adhesive bandages, antacids, salt substitute, dietary supplements, cotton buds, wet wipes, liquid soaps, anti-perspirants and cologne for women, shampoo and shower products, artificial sweeteners, skin care products, detergents, natural pharmaceuticals, and herbal multivitamin products, as well as distributes toothbrushes in Scandinavia. In addition, it sells various skin care products in Poland and eastern Europe. The company distributes its beauty and health care products through its direct sales force, as well as through independent brokers and licensees; food and household products through retail outlets such as mass merchandisers, supermarkets, drug stores, beauty salons, barber shops, dollar stores, wholesalers, and various stores; and hair care products primarily through mass merchandisers, drug stores and supermarkets, and beauty supply outlets and beauty distributors. It sells its consumer products through independent distributors and licensees to various retail outlets. Alberto-Culver is based in Melrose Park, Illinois.

Rogers Communications, Inc. (NYSE: RCI) operates as a communications and media company in Canada. It operates in three segments: Wireless, Cable, and Media. The Wireless segment offers wireless voice, data, and messaging services. It operates a global system for mobile communications/general packet radio service network, as well as provides wireless data services, including mobile access to the Internet, wireless e-mail, digital picture and video transmission, mobile video, music downloading, video calling, and two-way short messaging services. This segment markets its products and services under Rogers Wireless and Fido brand names. The Cable segment provides cable television, cable telephony, and high-speed Internet access. As of December 31, 2008, it provided digital cable services to approximately 1.6 million households; Internet service to approximately 1.6 million residential subscribers; and local telephone and long-distance services through 1.1 million subscriber lines. It also offers local and long-distance telephone, enhanced voice and data services, and IP access to Canadian businesses and governments. In addition, this segment operates a retail distribution chain consisting of 456 stores that offer home entertainment and wireless products and services. In addition, it offers digital video disc and video game sales and rentals. The Media segment engages in radio and television broadcasting businesses, and consumer and trade publishing businesses, as well as offers televised home shopping services. As of December 31, 2008, it operated 52 radio stations in Canada; multicultural OMNI television stations; five station Citytv television network; specialty sports television services, including regional sports service Rogers Sportsnet and Setanta Sports Canada; specialty services, which include OLN, The Biography Channel Canada, and G4TechTV Canada; and televised shopping service, The Shopping Channel. The company was founded in 1920 and is based in Toronto, Canada.

Vantage Drilling Company (NYSE: VTG), a development stage company, operates as an offshore drilling contractor. The company focuses on developing and operating a fleet of drilling rigs, as well as contracting drilling rigs, related equipment, and work crews to drill oil and gas wells. Vantage Drilling Company was founded in 2006 and is based in Houston, Texas.

Pride International, Inc. (NYSE: PDE) provides offshore contract drilling and related services to oil and natural gas exploration and production companies. It conducts operations through the use of mobile offshore drilling rigs primarily on the oil and natural gas basins of South America, the Gulf of Mexico, west Africa, the Mediterranean Sea, the Middle East, and the Asia Pacific, as well as in the United States and international waters. As of February 2, 2009, the company operated a fleet of 44 rigs, including 2 deepwater drillships, 12 semisubmersible rigs, 27 jackups, and 3 managed deepwater drilling rigs. It also offers rig management services on various rigs, such as technical drilling assistance, personnel, repair, maintenance, and drilling operation management services. The company was founded in 1966 and is based in Houston, Texas.

Validus Holdings, Ltd. (NYSE: VR), through its subsidiaries, provides reinsurance and insurance coverage in the property, marine, and specialty lines markets worldwide. The company underwrites property catastrophe reinsurance, property per risk reinsurance, and property pro rata reinsurance; and insurance and reinsurance on marine risks covering damage to or losses of marine vessels or cargo, yachts and marinas, third-party liability for marine accidents, and physical loss and liability from offshore energy properties. It also underwrites reinsurance on other lines of business, including aerospace, terrorism, life and accident, and health and workersai compensation catastrophe. In addition, Validus Holdings underwrites insurance on short-tail lines of business comprising war, political risks, political violence, financial institutions, contingency, bloodstock and livestock, accident and health, and aviation. The company offers its products primarily in the United States, Europe, Latin America and Caribbean, Japan, and Canada. Validus Holdings, Ltd. was founded in 2005 and is based in Hamilton, Bermuda.

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