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49.18% Of All NYSE Trading Wednesday Was Short Selling. WHR, UMC, PAG, EPD, LII, MTB Highest % Of Daily Trading Volume Short

^{Published on 2009-09-17 08:34:22, Last Modified on 2010-12-22 14:44:41 - WOPRAI}
 

September 17, 2009 / M2 PRESSWIRE / BUYINS.NET, www.buyins.net, has reviewed the NYSE Daily Short Volume Report for Wednesday, September 16th, 2009 and come to the following statistical conclusions. There were 6,554 stocks with daily short volume reported and total NYSE trading volume of 1,458,028,463 shares. Total Daily Short Volume was 717,096,380 shares. 49.18% 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. Whirlpool (NYSE: WHR), United MicroElectronics (NYSE: UMC), Penske Automotive Group (NYSE: PAG), Enterprise Products Partners (NYSE: EPD), Lennox International (NYSE: LII) and M and T Bank (NYSE: MTB). To access SqueezeTrigger Prices ahead of potential short squeezes beginning, visit http://www.buyins.net.

Date Symbol Short Volume Total Volume Market Percent

20090916 WHR 721,442 897,119 P 80.42%

20090916 UMC 106,280 134,080 P 79.27%

20090916 PAG 108,488 136,890 P 79.25%

20090916 EPD 126,418 168,114 P 75.20%

20090916 LII 87,787 117,727 P 74.57%

20090916 MTB 113,419 152,964 P 74.15%

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.

Whirlpool Corporation (NYSE: WHR) engages in the manufacture and marketing of home appliances worldwide. Its principal products include laundry appliances, refrigerators, cooking appliances, dishwashers, mixers, and other small household appliances. The company also produces hermetic compressors for refrigeration systems. It markets and distributes its products under various brand names, which include Whirlpool, Maytag, KitchenAid, Jenn-Air, Roper, Estate, Admiral, Magic Chef, Amana, Inglis, Acros, KIC, Ignis, Bauknecht, Brastemp, Consul, Eslabon de Lujo, Laden, Polar, and Supermatic. Whirlpool sells its products to retailers, dealers, distributors, builders, and other manufacturers. The company was founded in 1906 and is based in Benton Harbor, Michigan.

United Microelectronics Corporation (NYSE: UMC), together with its subsidiaries, manufactures and sells advanced process integrated circuits (ICs) for applications spanning various sectors of the semiconductor industry in Taiwan. It develops system-on-chip (SOC) ICs for various applications, including copper interconnects, low k dielectrics, embedded DRAM, and mixed signal/RF CMOS. United Microelectronics Corporation also offers foundry services and mask tooling services. The company was founded in 1980 and is headquartered in Hsinchu City, Taiwan with additional offices in Japan, Singapore, Europe, and the United States.

Penske Automotive Group, Inc. (NYSE: PAG) operates as an automotive retailer in the United States and the United Kingdom. It sells new and used motor vehicles, as well as provides various repair, maintenance, and collision services. The company also facilitates the sale of third-party finance and insurance products, third-party extended service contracts, and replacement and aftermarket automotive products. As of February 1, 2009, Penske Automotive Group owned and operated 156 franchises in the United States and 148 franchises in the United Kingdom, as well as operated 25 collision repair centers. The company was founded in 1990 and is headquartered in Bloomfield Hills, Michigan.

Enterprise Products Partners L.P. (NYSE: EPD), a midstream energy company, provides services to producers and consumers of natural gas, natural gas liquids (NGL), crude oil, and petrochemicals in the continental United States, Canada, and Gulf of Mexico. The company also develops pipeline and other midstream energy infrastructure. It operates through four segments: NGL Pipelines & Services, Onshore Natural Gas Pipelines & Services, Offshore Pipelines & Services, and Petrochemical Services. The NGL Pipelines & Services segment engages in natural gas processing and related NGL marketing activities. This segment offers ethane, propane, normal butane, isobutene, and natural gasoline, which are used as raw materials by the petrochemical industry, as feedstocks by refiners in the production of motor gasoline, and as fuel by industrial and residential users. It also operates NGL pipelines aggregating approximately 14,322 miles; import and export facilities; NGL fractionation facilities; and NGL and related product storage facilities. The Onshore Natural Gas Pipelines & Services segment operates approximately 18,346 miles of onshore natural gas pipeline systems that provide for the gathering and transmission of natural gas, as well as involves in natural gas marketing activities. This segment also owns and leases natural gas storage facilities. The Offshore Pipelines & Services business segment operates approximately 1,544 miles of offshore natural gas pipelines for gathering and transmission of natural gas; approximately 909 miles of offshore crude oil pipeline systems; and 6 multi-purpose offshore hub platforms. The Petrochemical Services segment includes two propylene fractionation facilities for the separation of mixed NGL streams into purity NGL products; an isomerization complex; and an octane additive production facility, as well as 649 miles of petrochemical pipeline systems. Enterprise Products Partners L.P. was founded in 1968 and is based in Houston, Texas.

Lennox International, Inc. (NYSE: LII), through its subsidiaries, provides climate control solutions engages in the design, manufacture, and marketing of a range of products for heating, ventilation, air conditioning, and refrigeration markets in the United States, Canada, and internationally. It operates in four segments: Residential Heating and Cooling, Commercial Heating and Cooling, Service Experts, and Refrigeration. The Residential Heating and Cooling segment manufactures and markets furnaces, air conditioners, heat pumps, packaged heating and cooling systems, indoor air quality equipment, prefabricated fireplaces, and freestanding stoves for residential replacement and new construction markets; and hearth products, such as factory-built gas, wood-burning, and electric fireplaces; free standing wood-burning, pellet and gas stoves; and gas logs, venting products, and accessories. The Commercial Heating and Cooling segment offers unitary heating and cooling equipment used in light commercial applications, such as low-rise office buildings, restaurants, retail centers, churches, and schools The Service Experts segment provides installation, preventive maintenance, emergency repair, and replacement of heating and cooling systems to residential and light commercial customers through its wholly owned service experts dealer service centers; and sells a range of equipment, parts and supplies, and branded products from third parties. The Refrigeration segment manufactures and markets condensing units, unit coolers, fluid coolers, air cooled condensers, compressor racks, air handlers, and small chillers. The company offers its products and services through distributors, independent and company-owned dealer service centers, other installing contractors, wholesalers, manufacturersai representatives, original equipment manufacturers, and national accounts. Lennox International was founded in 1895 and is headquartered in Richardson, Texas.

M&T Bank Corporation (NYSE: MTB) operates as the holding company for M&T Bank and M&T Bank, National Association that provide commercial and retail banking services to individuals, corporations and other businesses, and institutions. It offers business loans and leases; business credit cards; deposit products, including savings deposits, time deposits, negotiable order of withdrawal accounts, and noninterest-bearing deposits; and financial services, such as cash management, payroll and direct deposit, merchant credit card, and letters of credit. The company also provides residential real estate loans; multifamily commercial real estate loans; commercial real estate loans; residential mortgage loans and other assets; investment and trading securities; short-term and long-term borrowed funds; brokered certificates of deposit and interest rate swap agreements related thereto; and offshore branch deposits. In addition, it offers foreign exchange services. Further, M&T Bank Corporation provides consumer loans, and commercial loans and leases; credit life, and accident and health reinsurance; and insurance agency services. As of December 31, 2008, it had 684 banking offices in New York state, Pennsylvania, Maryland, Delaware, New Jersey, Virginia, West Virginia, and the District of Columbia, as well as a branch in George Town, Cayman Islands. The company was founded in 1969 and is headquartered in Buffalo, New York.

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