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47.73% Of All NYSE Trading Thursday Was Short Selling. CYN, SCI, FII, PPS, CLR, NDN Highest % Of Daily Trading Volume Short

^{Published on 2009-09-04 08:07:44, Last Modified on 2010-12-22 14:42:54 - WOPRAI}
 

September 4, 2009 / M2 PRESSWIRE / BUYINS.NET, www.buyins.net, has reviewed the NYSE Daily Short Volume Report for Thursday, September 3rd, 2009 and come to the following statistical conclusions. There were 6,348 stocks with daily short volume reported and total NYSE trading volume of 1,061,750,012 shares. Total Daily Short Volume was 506,802,639 shares. 47.73% of all trading on the NYSE Thursday was short selling. The chart below highlights 6 stocks that had unusually high percentages of their total daily trading volume attributed to short sales. City National Corp (NYSE: CYN), Service Corp International (NYSE: SCI), Federated Investors (NYSE: FII), Post Properties (NYSE: PPS), Continental Resources (NYSE: CLR) and 99 Cents Only Stores (NYSE: NDN). To access SqueezeTrigger Prices ahead of potential short squeezes beginning, visit http://www.buyins.net.

Date Symbol Short Volume Total Volume Market Percent

20090903 CYN 125,934 144,683 P 87.04%

20090903 SCI 261,746 314,535 P 83.22%

20090903 FII 237,273 295,176 P 80.38%

20090903 PPS 93,021 116,690 P 79.72%

20090903 CLR 108,888 141,521 P 76.94%

20090903 NDN 87,415 115,830 P 75.47%

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.

City National Corporation (NYSE: CYN) operates as the bank holding company for City National Bank that provides a range of banking, investing, and trust services to small to mid-sized businesses, entrepreneurs, professionals, and affluent individuals. It offers deposits, such as interest checking deposits, savings deposits, and certain money market accounts; and commercial loans and lease financing, residential mortgages, commercial real estate mortgages, real estate construction loans, equity lines of credit, and installment loans. The company also provides cash management, international banking, equipment financing, and other products and services. In addition, it offers investment management and advisory services, and brokerage services, including portfolio management, securities trading, and asset management; personal and business trust and investment services, including employee benefit trust services and defined benefit plans; and estate and financial planning and custodial services. The company provides proprietary and nonproprietary products to offer a range of asset classes and investment styles, including fixed-income instruments, mutual funds, domestic and international equities, and alternative investments, such as hedge funds. As of June 9, 2009, it operated 63 offices, including 15 full-service regional centers in Southern California, the San Francisco Bay area, Nevada, and New York City. City National Corporation was founded in 1953 and is headquartered in Los Angeles, California.

Service Corporation International (NYSE: SCI) provides deathcare products and services. Its funeral service and cemetery operations consist of funeral service locations, cemeteries, funeral service/cemetery combination locations, crematoria, and related businesses. The company provides various professional services relating to funerals and cremations, including the use of funeral facilities and motor vehicles, and preparation and embalming services. It also sells funeral related merchandise, including caskets, burial vaults, cremation receptacles, flowers, and other ancillary products and services at funeral service locations. The companyais cemeteries provide cemetery property interment rights, including mausoleum spaces, lots, and lawn crypts, and sell cemetery related merchandise and services, including stone and bronze memorials, burial vaults, casket and cremation memorialization products, merchandise installations, and burial openings and closings. It also sells preneed funeral and cemetery products and services whereby a customer contractually agrees to the terms of certain products and services to be delivered and performed in the future. As of December 31, 2008, Service Corporation operated 1,314 funeral service locations and 369 cemeteries (including 208 combination locations) covering 43 states in the United States, 8 Canadian provinces, the District of Columbia, Puerto Rico, and Germany. The company was founded in 1962 and is headquartered in Houston, Texas.

Federated Investors, Inc. (NYSE: FII) is a publicly owned investment manager. The firm provides its services to individuals, including high net worth individuals, banking or thrift institutions, investment companies, pension and profit sharing plans, pooled investment vehicles, charitable organizations, state or municipal government entities, and registered investment advisors. Through its subsidiaries, it manages separate client-focused equity, fixed income, and money market mutual funds and separate client-focused equity, fixed income, and balanced portfolios. The firm invests in the public equity and fixed income markets across the globe. It invests in growth and value stocks of small-cap, mid-cap, and large-cap companies. The firm makes its fixed income investments in ultra-short, short-term, and intermediate-term mortgage-backed, U.S. Government, U.S. Corporate, high yield, and municipal securities. It employs a fundamental and a quantitative analysis to make its equity investments. The firm also makes sector-focused equity investments. Federated Investors was founded in 1955 and is based in Pittsburgh, Pennsylvania with an additional office in New York, New York.

Post Properties, Inc. (NYSE: PPS), a real estate investments trust (REIT), together with its subsidiaries, engages in the development, ownership, and management of multifamily apartment communities in the United States. As of December 31, 2007, the company owned 22,578 apartment units in 63 apartment communities, including 1,747 apartment units in 2 communities held in unconsolidated entities and 2,266 apartment units in 7 communities. It is also developing and selling 535 for-sale condominium homes in 4 communities and converting 349 apartment homes into for-sale condominium homes in 2 communities. The company primarily operates in Atlanta, Georgia; Dallas, Texas; Washington, D.C.; and Tampa, Florida metropolitan areas. Post Properties has elected to be taxed as REIT under the Internal Revenue Code and would not be subject to federal income taxes, if it distributes approximately 90% of its taxable income to its shareholders. The company was founded in 1971 and is based in Atlanta, Georgia.

Continental Resources, Inc. (NYSE: CLR) engages in the exploration, exploitation, and production of oil and natural gas properties primarily in the Rocky Mountain, Mid-Continent, and Gulf Coast regions of the United States. The company primarily sells its oil and natural gas production to end users, as well as to midstream marketing companies or oil refining companies at the lease. As of December 31, 2008, its estimated proved reserves were 159.3 million barrels of oil equivalent (MMBoe), with estimated proved developed reserves of 106.0 MMBoe. Continental Resources owned 1,114,445 net undeveloped and 399,825 net developed acres, as well as had interests in 2,192 wells and operated 1,657 of these wells. The company was founded in 1967 and is based in Enid, Oklahoma.

99 Only Stores (NYSE: NDN) sells consumer products through its retail stores primarily at price points of 99.99 or less in the United States. Its stores offer consumer goods and closeout merchandise. The company also sells merchandise through its Bargain Wholesale division to retailers, distributors, and exporters. In addition, it develops private label consumer products; and imports merchandise in product categories, such as kitchen items, housewares, toys, seasonal products, pet-care, and hardware. As of June 9, 2009, the company operated 271 retail stores with 200 in California, 34 in Texas, 25 in Arizona, and 12 in Nevada. 99 Only Stores was founded in 1965 and is based in the City of Commerce, California.

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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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