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51.21% Of All NASDAQ Trading Friday Was Short Selling. HNBC, GSAT, AMMD, NEXM, LMNX, SBLK Highest % Of Daily Trading Volume Sh

^{Published on 2009-09-14 06:53:24, Last Modified on 2010-12-22 14:43:59 - WOPRAI}
 

September 14, 2009 / M2 PRESSWIRE / BUYINS.NET, www.buyins.net, has reviewed the NASDAQ Daily Short Volume Report for Friday, September 11th, 2009 and come to the following statistical conclusions. There were 6,673 stocks with daily short volume reported and total NASDAQ trading volume of 1,620,906,014 shares. Total Daily Short Volume was 830,102,986 shares. 51.21% of all trading on the NASDAQ Friday was short selling. The chart below highlights 6 stocks that had unusually high percentages of their total daily trading volume attributed to short sales. Harleysville National Corp (NASDAQ: HNBC), GlobalStar (NASDAQ: GSAT), American Medical Systems Holdings (NASDAQ: AMMD), NexMed (NASDAQ: NEXM), Luminex Corp (NASDAQ: LMNX) and Star Bulk Carriers (NASDAQ: SBLK). To access SqueezeTrigger Prices ahead of potential short squeezes beginning, visit http://www.buyins.net.

DATE SYMBOL SHORT VOLUME TOTAL VOLUME MARKET PERCENT

20090911 HNBC 98,329 109,573 Q 89.74%

20090911 GSAT 99,422 114,022 Q 87.20%

20090911 AMMD 152,366 199,088 Q 76.53%

20090911 NEXM 121,929 160,196 Q 76.11%

20090911 LMNX 125,857 167,473 Q 75.15%

20090911 SBLK 311,409 418,464 Q 74.42%

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.

Harleysville National Corporation (NASDAQ: HNBC) operates as the holding company for Harleysville National Bank and Trust Company that provides banking and financial products and services to individual and corporate customers primarily in eastern Pennsylvania. It engages in commercial banking and trust business, including accepting time, demand, savings, and money market deposits; making secured and unsecured commercial, consumer, and real estate loans, as well as financing commercial transactions; making construction and mortgage loans; and performing corporate pension and personal investment, and trust services, as well as provides investment management services. The company, through its other subsidiaries, also provides reinsurance services to consumer loan credit life, and accident and health insurance, as well as offers investment advisory services in estate and succession planning, and life insurance for high-net-worth construction and aggregate business owners, wealthy families, and institutional clients. As of December 31, 2008, it had 85 branch offices located in Montgomery, Bucks, Chester, Berks, Carbon, Lehigh, Monroe, Northampton, and Philadelphia counties in Pennsylvania. The company was founded in 1909 and is headquartered in Harleysville, Pennsylvania.

Globalstar, Inc. (NASDAQ: GSAT), together with its subsidiaries, provides mobile voice and data communications services through satellite. It offers mobile voice and data satellite communications; personal asset tracking and remote monitoring; fixed voice and data satellite communications; and satellite data modem services, as well as other services, including the installation of gateways and antennas. The company also provides voice and data products, including mobile and fixed satellite telephones, and simplex and duplex satellite voice and data modems; SPOT satellite messenger products; and telephone accessories, such as car kits and chargers. It serves oil and gas, government, mining, forestry, commercial fishing, utilities, military, public safety and disaster relief, maritime, transportation, telecommunications, heavy construction, emergency preparedness, and business continuity industries in the United States and internationally, as well as individual and commercial recreational users. Globalstar, Inc. sells its products and services through various retail and wholesale channels, such as dealers, resellers, distribution managers, independent gateway operators, and direct sales, as well as online. As of December 31, 2008, the company had 48 in-orbit satellites and 26 ground stations/gateways. Globalstar, Inc. was founded in 2003 and is headquartered in Milpitas, California.

American Medical Systems Holdings, Inc. (NASDAQ: AMMD) provides medical solutions to physicians treating mena�s and womena�s pelvic health conditions worldwide. It manufactures and markets surgical products to urologists, gynecologists, and urogynecologists for erectile restoration, benign prostatic hyperplasia, male urethral stricture, urinary and fecal incontinence, menorrhagia, and pelvic organ prolapse. The companya�s products for men include AMS 700 MS, an inflatable prostheses; the InhibiZone antibiotic treatment to address the risk of surgical infections; Tactile Pump and Momentary Squeeze Pump; AdVance Male Sling for the treatment of mild to moderate male stress urinary incontinence; InVance sling system, a less-invasive procedure for men with moderate incontinence; GreenLight HPS lasers and fibers for the treatment of obstructive benign prostatic hyperplasia; StoneLight laser and SureFlex fiber optics for the treatment of urinary stones; and UroLume endoprosthesis stents. Its womena�s healthcare products comprise AMS 800 urinary control system; Monarc, a treatment for stress incontinence; MiniArc Single-Incision Sling; Acticon neosphincter, which is used to treat severe fecal incontinence; Apogee system that is designed to repair vaginal vault prolapse; Perigee system, which targets repair of cystocele or the herniation of the bladder through the anterior wall of the vagina; InteXen, a biologic graft as an alternative to its synthetic mesh solutions; and Elevate transvaginal prolapse repair system. The company also offers Her Option cryoablation therapy products, which uses a microprocessor-controlled probe to eliminate excessive menstrual bleeding. American Medical Systems distributes its products through direct field representatives and independent distributors. The company was founded in 1972 and is headquartered in Minnetonka, Minnesota.

NexMed, Inc. (NASDAQ: NEXM), a pharmaceutical and medical technology company, engages in the development of topical pharmaceutical products based on its proprietary NexACT transdermal drug delivery technology. The NexACT transdermal drug delivery technology is designed to enhance the absorption of an active drug through the skin and enable concentrations of the active drug to penetrate the desired site of the skin or extremity. The companya�s products under development include NM100060, a topical nail solution for the treatment of onychomycosis; Vitaros, a topical alprostadil-based cream treatment for patients with erectile dysfunction; and Femprox, an alprostadil-based cream product for the treatment of female sexual arousal disorder. It also focuses on the development of topical treatments for psoriasis. The company has a licensing agreement with Novartis International Pharmaceutical Ltd. for the development, manufacture, and commercialization of NM100060. NexMed, Inc. was founded in 1987 and is based in East Windsor, New Jersey.

Luminex Corporation (NASDAQ: LMNX) develops, manufactures, and sells proprietary biological testing technologies and products for applications in the life sciences and diagnostic industries in the United States. It offers xMAP technology, an open architecture and multiplexing technology, which allows simultaneous analysis of up to 100 bioassays on a single drop of fluid by reading biological tests on the surface of microscopic polystyrene beads called microspheres. The companya�s xMAP technology is used in various segments of the life sciences industry, which includes the fields of drug discovery and development, clinical diagnostics, genetic analysis, bio-defense, protein analysis, and biomedical research. It operates in two segments, Technology and Assay. The Technology segment offers instruments, such as compact analyzers that integrate fluidics, optics, and digital signal processing; consumables comprising microspheres and sheath fluid; and LXR Software Developera�s Kit, a software interface for reading xMAP based assays on Luminex hardware. The Assay segment involves in the development and sale of assays on xMAP technology for use on Luminexa�s installed base of systems. It offers kits, which are the combination of chemical and biological reagents, and the companya�s proprietary bead technology used to perform diagnostic and research assays on samples. Luminex Corporation serves pharmaceutical companies, clinical laboratories, research institutions, and medical institutions. The company was founded in 1995 and is based in Austin, Texas.

Star Bulk Carriers Corp. (NASDAQ: SBLK), through its subsidiaries, provides transportation services in the dry bulk sector for a range of customers of dry bulk cargoes worldwide. The companya�s fleet carries various dry bulk commodities, including coal, iron ore, and grains; and bauxite, phosphate, fertilizers, and steel products. As of December 31, 2008, it owned and operated 12 vessels consisting of 4 Capesize and 8 Supramax drybulk carriers with a combined cargo capacity of 1.1 million deadweight tons. The company was founded in 2006 and is based in Athens, Greece.

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WWW.BUYINS.NET is a service designed to help bonafide shareholders of publicly traded US companies fight naked short selling. Naked short selling is the illegal act of short selling a stock when no affirmative determination has been made to locate shares of the stock to hypothecate in connection with the short sale. Buyins.net has built a proprietary database that uses Threshold list feeds from NASDAQ, AMEX and NYSE to generate detailed and useful information to combat the naked short selling problem. For the first time, actual trade by trade data is available to the public that shows the attempted size, actual size, price and average value of short sales in stocks that have been shorted and naked shorted. This information is valuable in determining the precise point at which short sellers go out-of-the-money and start losing on their short and naked short trades.

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.

The SqueezeTrigger database collects individual short trade data on over 7,000 NYSE, AMEX and NASDAQ stocks and general short trade data on nearly 8,000 OTCBB and PINKSHEET stocks. Each month the database grows by approximately 50,000,000 short sale transactions and provides investors with the knowledge necessary to time when to buy and sell stocks with outstanding short positions. By tracking the size and price of each montha�s short transactions, BUYINS.NET provides institutions, traders, analysts, journalists and individual investors the exact price point where short sellers start losing money and a short squeeze can begin.

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