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49.53% Of All NASDAQ Trading Wednesday Was Short Selling. CAVM, CRBC, HLIT, SATS, FORM, IBOC Highest % Of Daily Trading Volume

^{Published on 2009-09-03 08:09:20, Last Modified on 2010-12-22 14:42:49 - WOPRAI}
 

September 3, 2009 / M2 PRESSWIRE / BUYINS.NET, www.buyins.net, has reviewed the NASDAQ Daily Short Volume Report for Wednesday, September 2nd, 2009 and come to the following statistical conclusions. There were 5,648 stocks with daily short volume reported and total NASDAQ trading volume of 1,533,451,710 shares. Total Daily Short Volume was 759,542,750 shares. 49.53% of all trading on the NASDAQ 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. Cavium Networks (NASDAQ: CAVM), Citizens Republic Bancorp (NASDAQ: CRBC), Harmonic (NASDAQ: HLIT), EchoStar (NASDAQ: SATS), FormFactor (NASDAQ: FORM) and International Bancshares (NASDAQ: IBOC). To access SqueezeTrigger Prices ahead of potential short squeezes beginning, visit http://www.buyins.net.

DATE SYMBOL SHORT VOLUME TOTAL VOLUME MARKET PERCENT

20090902 CAVM 135,822 158,996 Q 85.42%

20090902 CRBC 595,449 746,570 Q 79.76%

20090902 HLIT 163,164 206,459 Q 79.03%

20090902 SATS 128,105 163,319 Q 78.44%

20090902 FORM 83,713 108,970 Q 76.82%

20090902 IBOC 119,717 157,423 Q 76.05%

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.

Cavium Networks Inc. (NASDAQ: CAVM) designs, develops, and markets semiconductor processors for intelligent and secure networks. Its semiconductor products enable customers to develop networking, wireless, storage, and electronic equipment that are application-aware and content-aware, and securely process voice, video, and data traffic at high speeds. The companyais products also include a suite of embedded security protocols that enable unified threat management, secure connectivity, network perimeter protection network virtualization, broadband gateways, 3G/4G wireless infrastructure, storage systems, wireless HDMI cable replacement, and embedded video applications. Its products are used in networking equipment, including routers, switches, content-aware switches, unified threat management, and other security appliances; application-aware gateways, voice/video/data, or triple-play, gateways, wireless local area network, third-generation access and aggregation devices, storage networking equipment, servers, intelligent network interface cards, IP surveillance systems, digital video recorders, wireless HDMI cable replacement systems, and video conferencing systems; and connected home and office equipment, such as print servers, wireless routers, and broadband gateways. The company sells its products directly or through contract manufacturing organizations and distributors to providers of networking, wireless, storage, and electronic equipment, as well as to original equipment manufacturers primarily in the United States, Japan, Taiwan, and the Peopleais Republic of China. It has a joint collaboration with Aricent Inc. to provide advanced LTE eNodeB solutions. The company also has collaboration agreements with Atheros Communications Inc. and Design of Systems on Silicon S.A. to offer HD video transmission and distribution to flat panel displays. Cavium Networks Inc. was founded in 2000 and is based in Mountain View, California.

Citizens Republic Bancorp, Inc. (NASDAQ: CRBC) operates as the holding company for Citizens Bank and F&M Bank Iowa, which provide banking and financial services to individuals and businesses in Michigan, Wisconsin, Ohio, Iowa, and Indiana. The company operates in three divisions: Specialty Commercial, Regional Banking, and Wealth Management. The Specialty Commercial division provides lending, depository, and related financial services to commercial real estate developers, owners of multi-unit commercial properties, middle-market companies, and local governments and municipalities. It offers commercial mortgages, real estate construction lending, term loans, revolving credit arrangements, inventory and accounts receivable financing, and letters of credit; and noncredit services, including deposit accounts, treasury management, corporate cash management, international banking services, advice and assistance in the placement of securities, and financial planning. The Regional Banking division provides a range of lending, depository, and other related financial services to businesses and individual consumers. This division offers direct loans, home equity loans and lines of credit, and residential mortgage loans, as well as checking, savings, and money market accounts; debit and credit cards; ATM network services; certificates of deposit; and fixed and variable annuities. The Wealth Management division offers asset management, financial planning, estate settlement and administration, and credit and deposit products and services, as well as trust and investment services. This division also offers retail mutual funds and other securities, variable and fixed annuities, personal disability and life insurance products, and brokerage services. As of December 31, 2008, the company operated 233 offices and 266 ATM locations. Citizens Republic Bancorp, Inc. was founded in 1871 and is based in Flint, Michigan.

Harmonic Inc. (NASDAQ: HLIT) designs, manufactures, and sells video products and system solutions that enable service providers to deliver broadcast and on-demand services. Its broadcast and on-demand services include high-definition television, video-on-demand, network personal video recording, and time-shifted TV. The company offers video processing products, including divicom encoders, statistical multiplexing solutions, stream processing products, and decoders and descramblers; and edge and access products, such as edge products, optical transmitters and amplifiers, and optical nodes and return path equipment. It also offers management and control software products that consist of NMX Digital Service Manager that gives service providers the ability to control and visually monitor their digital video infrastructure at an aggregate level; and NETWatch management system, which operates in broadband networks to capture measurement data and enables the broadband service operator to monitor and control the hybrid fiber-coax transmission network from a master headend or remote locations. In addition, the company provides content management software that comprise CLEARCut storage encoding and CarbonCoder software, which facilitate the creation of multi-format video for Internet, mobile, and broadcast applications; ProStream 8000 solution that allows operators to present on-screen mosaics with several channels tiled within a single video stream; and Armada and Streamliner products for the management of an operatorais video-on-demand assets and the distribution of these assets to subscribers. Further, it provides consulting, implementation, and maintenance services. The company sells and markets its products through direct sales force, independent distributors, and integrators to various broadband communications companies in the United States and internationally. Harmonic Inc. was founded in 1988 and is headquartered in Sunnyvale, California.

EchoStar Corporation (NASDAQ: SATS) engages in the design, development, and distribution of digital set-top boxes and related products for direct-to-home satellite service providers. The companys set-top boxes permit consumers to watch, control, and record television programming through digital video recorder (DVR) technology integrated with satellite receivers. Its set-top box products include Slingboxes, SlingLoaded high-definition (HD)-DVR digital set-top boxes, standard-definition (SD) basic digital set-top boxes, SD-DVR digital set-top boxes, high-definition digital set-top boxes, and HD-DVR digital set-top boxes. EchoStar Corporation also provides fixed satellite services through its eight owned or leased in-orbit satellites and related FCC licenses, and a network of six full service digital broadcast centers. The companyais transponder capacity is used for various applications, including broadcasting services, government services, and network services. In addition, EchoStar Corporation has agreements to construct and launch an S-band satellite, and to lease its transponder capacity to a Hong Kong joint venture to support the development of satellite-delivered mobile video services in China. It has operations in the United States, Europe, and Asia. The company was formerly known as EchoStar Holding Corporation and changed its name to EchoStar Corporation in January 2008. The company was founded in 2007 and is headquartered in Englewood, Colorado. EchoStar Corporation (NasdaqNM: SATS) operates independently of Dish Network Corp. (Nasdaq: DISH) as of January 2, 2008.

FormFactor, Inc. (NASDAQ: FORM) engages in the design, development, manufacture, sale, and support of precision semiconductor wafer probe card products and solutions based on its MicroSpring interconnect technology and design tools. Its wafer probe cards are used by semiconductor manufacturers to perform wafer sort and test on the semiconductor die, or chips, or the whole semiconductor wafer in the front end of the semiconductor manufacturing process. The companyais customers use its wafer probe cards to test DRAM chips, including DDR, DDR2, DDR3, SDRAM, PSRAM, mobile DRAM, Graphic DRAM, NOR and NAND flash memory chips, serial data devices, chipsets, microprocessors, and microcontrollers. It sells products to DRAM, flash memory devices, microprocessor, chipset, and other system on chip devices manufacturers primarily through its direct sales force, distributors, and independent sales representatives. The company has operations in Japan, North America, Taiwan, South Korea, and Europe. FormFactor, Inc. was founded in 1993 and is headquartered in Livermore, California.

International Bancshares Corporation (NASDAQ: IBOC) operates as a multi-bank financial holding company that provides commercial and retail banking services in south, central, and southeast Texas; and Oklahoma. It accepts checking and savings deposits, and demand and time deposits from individuals, partnerships, corporations, and public entities; and provides commercial, real estate, personal, home improvement, automobile, and other installment and term loans. The company also facilitates international trade primarily along the United States border with Mexico. In addition, its international banking services include letters of credit, commercial and industrial loans, and currency exchange services. Further, the company offers other related services, such as credit cards, travelersai checks, safety deposit, collection, notary public, escrow, drive-up and walk-up facilities, and other customary banking services; and certain securities products through third party providers, as well as offers Internet banking services. International Bancshares, through its non-banking subsidiaries, reinsures credit life, accident, and health risks related to loans made by bank subsidiaries; and involves in investment banking and merchant banking activities. As of December 31, 2008, it operated 265 banking and branch facilities, and 420 automated teller machines serving 101 communities in Texas and Oklahoma. The company was founded in 1966 and is headquartered in Laredo, Texas.

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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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