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48.2% Of All NYSE Trading Tuesday Was Short Selling. CUK, PIR, RBC, LH, VLY, CIG Highest % Of Daily Trading Volume Short

^{Published on 2009-09-08 16:03:36, Last Modified on 2010-12-22 14:43:32 - WOPRAI}
 

September 9, 2009 / M2 PRESSWIRE / BUYINS.NET, www.buyins.net, has reviewed the NYSE Daily Short Volume Report for Tuesday, September 8th, 2009 and come to the following statistical conclusions. There were 6,428 stocks with daily short volume reported and total NYSE trading volume of 1,113,519,896 shares. Total Daily Short Volume was 537,068,398 shares. 48.2% of all trading on the NYSE Tuesday was short selling. The chart below highlights 6 stocks that had unusually high percentages of their total daily trading volume attributed to short sales. Carnival Plc (NYSE: CUK), Pier 1 Imports (NYSE: PIR), Regal-Beloit (NYSE: RBC), Laboratory Corp of America (NYSE: LH), Valley National Bancorp (NYSE: VLY) and Companhia Energetica de Minas (NYSE: CIG). To access SqueezeTrigger Prices ahead of potential short squeezes beginning, visit http://www.buyins.net.

Date Symbol Short Volume Total Volume Market Percent

20090908 CUK 130,480 152,240 P 85.71%

20090908 PIR 101,903 120,003 P 84.92%

20090908 RBC 86,342 102,193 P 84.49%

20090908 LH 189,944 239,089 P 79.44%

20090908 VLY 104,311 134,090 P 77.79%

20090908 CIG 253,727 328,202 P 77.31%

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.

Carnival plc (NYSE: CUK), a cruise company, offers cruise vacations services worldwide. It provides cruises to various vacation destinations with a portfolio of 12 cruise brands comprising Carnival Cruise Lines, Princess Cruises, Holland America Line, Cunard Line, and The Yachts of Seabourn in North America; Costa Cruises in Europe; P&O Cruises, Cunard Line, and Ocean Village in the United Kingdom; AIDA Cruises in Germany; Ibero Cruises in Spain and Brazil; and P&O Cruises Australia in Australia and New Zealand. The company also owns two cruise/tour operators, Holland America Tours and Princess Tours that complement its cruise operations in Alaska and the Yukon Territory of Canada. As of January 28, 2009, the company operated 88 cruise ships with approximately 169,040 passenger capacity. It also marketed and operated 16 hotels or lodges with approximately 3,500 guest rooms; approximately 560 motor coaches used for sightseeing and charters; 24 domed rail cars, which run on the Alaska railroad between Anchorage and Fairbanks, Whittier and Denali, and Whittier and Talkeetna; 2 luxury dayboats; and sightseeing packages. Carnival plc sells its cruises through travel agents, including wholesalers and tour operators. The company, formerly known as P&O Princess Cruises plc, was founded in 1850. Carnival plc is headquartered in London, the United Kingdom. Carnival plc operates as a subsidiary of Carnival Group.

Pier 1 Imports, Inc. (NYSE: PIR), together with its subsidiaries, operates as a specialty retailer of imported decorative home furnishings, gifts, and related items. Its stores offer furniture, decorative home furnishings, dining and kitchen goods, epicurean products, bath and bedding accessories, candles, and other specialty items for the home. The companyais decorative accessories include wood accessories, lamps, vases, dried and artificial flowers, baskets, ceramics, dinnerware, bath and fragrance products, bedding, and seasonal and gift items. Its furniture products comprise furniture and furniture cushions to be used on patios, and in living, dining, kitchen, bedroom, and sunrooms, as well as wall decorations and mirrors. As of March 1, 2008, the company operated 1,011 stores in the United States and 81 stores in Canada under Pier 1 Imports name. Pier 1 Imports, Inc. also operates in Mexico and Puerto Rico. The company was founded in 1970 and is headquartered in Fort Worth, Texas.

Regal Beloit Corporation (NYSE: RBC), together with its subsidiaries, manufactures and sells electrical and mechanical products in the United States, Canada, Mexico, India, Australia, Thailand, Europe, and China. The company operates in two segments, Electrical and Mechanical. The Electrical segment offers alternate current (AC) and direct current (DC) commercial and industrial electric motors; heating, ventilation, and air conditioning motors; and electric generators and controls, and capacitors. It also produces precision servo motors; automatic transfer switches; and paralleling switchgear to interconnect and control electric power generation equipment, as well as a line of AC and DC adjustable speed drives. The Mechanical segment manufactures mechanical motion control products, including worm gear, bevel gear, helical gear, and concentric shaft gearboxes; marine transmissions; after-market automotive transmissions, and ring and pinions; custom gearings; gear motors; electrical connecting devices; and manual valve actuators, which are used primarily in oil and gas, water distribution and treatment, and chemical processing applications. The company sells its products to original equipment manufacturers, distributors, and end users through direct sales people and manufacturersai representative organizations. Regal Beloit Corporation was founded in 1955 and is based in Beloit, Wisconsin.

Laboratory Corporation of America Holdings (NYSE: LH), together with its subsidiaries, operates as an independent clinical laboratory company in the United States. The company offers a range of testing services used by the medical profession in routine testing, patient diagnosis, and in the monitoring and treatment of disease, as well as specialty testing services. Its routine tests include blood chemistry analyses, urinalyses, blood cell counts, thyroid tests, Pap tests, HIV tests, microbiology cultures and procedures, and alcohol and other substance-abuse tests. The companyais specialty tests and related services comprise viral load testing, and HIV genotyping and phenotyping for infectious diseases; cytogenetic, molecular cytogenetic, biochemical, and molecular genetic tests for diagnostic genetics; oncology testing; clinical trials testing for pharmaceutical companies, which conducts clinical research trials on new drugs; forensic identity testing used in criminal proceedings and parentage evaluation services; allergy testing consisting of a range of allergen testing services, computerized analysis, and treatment program that enables primary care physicians to diagnose and treat various allergic disorders; and occupational testing services, which include urine and blood testing services for the detection of drug and alcohol abuse for private and government customers. Its customers comprise physicians, hospitals, managed care organizations, governmental agencies, employers, pharmaceutical companies, and other independent clinical laboratories. As of December 31, 2008, the company operated 36 primary laboratories and approximately 1,600 patient service centers. Laboratory Corporation of America Holdings was founded in 1971 and is headquartered in Burlington, North Carolina.

Valley National Bancorp (NYSE: VLY) as the holding company for Valley National Bank that provides commercial, retail, trust, and investment services. It offers various services, including acceptance of demand, savings, and time deposits; the provision of consumer, real estate, and small business administration loans, as well as other commercial credits; and the provision of equipment leasing, personal and corporate trust, and pension and fiduciary services. The companyais Consumer Lending segment provides residential mortgages, home equity loans, automobile loans. It also offers trust; asset management advisory services; and property, casualty, life, health, and title insurance services. Its Commercial Lending segment provides floating rate and adjustable rate commercial loans, as well as fixed rate owner occupied and commercial mortgage loans. The companyais Investment Management segment offers fixed rate investments, trading securities, and federal funds. Valley National Bancorp also engages in real estate related investment activities. As of December 31, 2008, it operated 195 full-service banking offices located in northern and central New Jersey and New York City. The company was founded in 1927 and is headquartered in Wayne, New Jersey. Companhia Energetica de Minas Gerais (NYSE: CIG) was organized in Minas Gerais, Brazil on May 22, 1952. The Company is engaged in the electric power transmission business, which consists of transporting electric power from the facilities where it is generated to the distribution networks for delivery to end users. It transports energy produced at its own generation facilities as well as energy that it purchases from Itaipu, the interconnected power system and other concessionaires. The Company's transmission network is comprised of power transmission lines with a voltage capacity equal to or greater than 230 kV and is part of the national transmission grid regulated by the ONS. Water is the main raw material used for the production of energy, representing 97% of the total raw materials used. Its main raw material expense is the purchase of fuel oil, which is consumed by our three thermoelectric plants in the electricity generation process. it also engages in the following businesses: distributing natural gas in Minas Gerais through its majority-owned subsidiary Gasmig telecommunications through its consolidated subsidiary Empresa de Infovias S.A., a company created for the purpose of providing a fiber-optics and coaxial cable network installed along its transmission and distribution lines through which telecommunication services could be provided and national and international consulting business through its subsidiary Efficientia S.A. and implementation and management of systems for electricity sector companies (generation, distribution and transmission) through its subsidiary Axxiom Solucoes Tecnologicas S.A., The Company is subject to governmental legislation and regulation.

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