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48.67% Of All NASDAQ Trading Monday Was Short Selling. IBCA, FLML, TRMS, SBSA, CMTL, CRZO Highest % Of Daily Trading Volume Sh

^{Published on 2009-09-22 07:40:00, Last Modified on 2010-12-22 14:45:57 - WOPRAI}
 

September 22, 2009 / M2 PRESSWIRE / BUYINS.NET, www.buyins.net, has reviewed the NASDAQ Daily Short Volume Report for Monday, September 21st, 2009 and come to the following statistical conclusions. There were 6,921 stocks with daily short volume reported and total NASDAQ trading volume of 1,736,900,119 shares. Total Daily Short Volume was 845,434,771 shares. 48.67% of all trading on the NASDAQ Monday was short selling. The chart below highlights 6 stocks that had unusually high percentages of their total daily trading volume attributed to short sales. Intervest Bancshares (NASDAQ: IBCA), Flamel Technologies (NASDAQ: FLML), Trimeris (NASDAQ: TRMS), Spanish Broadcasting System (NASDAQ: SBSA), Comtech Telecommunications (NASDAQ: CMTL) and Carrizo Oil and Gas (NASDAQ: CRZO). To access SqueezeTrigger Prices ahead of potential short squeezes beginning, visit http://www.buyins.net.

DATE SYMBOL SHORT VOLUME TOTAL VOLUME MARKET PERCENT

20090921 IBCA 62,163 64,063 Q 97.03%

20090921 FLML 82,962 88,130 Q 94.14%

20090921 TRMS 91,200 99,200 Q 91.94%

20090921 SBSA 448,100 529,458 Q 84.63%

20090921 CMTL 112,922 136,858 Q 82.51%

20090921 CRZO 146,673 180,617 Q 81.21%

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.

Intervest Bancshares Corporation (NASDAQ: IBCA) operates as a financial holding company for Intervest National Bank and Intervest Mortgage Corporation, which primarily engage in banking and real estate lending businesses. The company provides commercial and consumer banking services to individuals, small businesses, and professional firms. Its deposit products include certificates of deposit, individual retirement accounts, checking and other demand deposit accounts, negotiable order of withdrawal accounts, savings accounts, and money market accounts. The companyais loan portfolio consists of mortgage loans secured by commercial and multifamily real estate properties, commercial real estate loans, single family residential real estate loans, residential multifamily loans, land development and other land loans, residential 1-4 family loans, commercial business loans, and consumer loans. In addition, it offers Internet banking services, automated teller machine services, wire transfers, automated clearing house transfers, direct deposit of payroll and social security checks, automated drafts for various accounts, and safe deposit boxes. Further, the company originates first mortgage and junior mortgage loans secured by commercial and multifamily real estate properties, as well as provides loan origination services. As of December 31, 2008, the company had one full-service banking office in New York City; six in Pinellas County, Florida, of which four in Clearwater, one in Clearwater Beach, and one in South Pasadena. The company was founded in 1993 and is headquartered in New York, New York.

Flamel Technologies S.A. (NASDAQ: FLML), a biopharmaceutical company, engages in the development of polymer-based drug delivery technologies for the improvement of medical applications in France. Its Medusa nanoparticulate technology is designed to deliver therapeutic proteins, peptides, and other large and small molecules injected subcutaneously. The companyais Micropump technology is a multiparticulate technology for oral administration of small molecule drugs with applications in controlled-release, taste-masking, and bioavailability enhancement. Its products based on Medusa technology include Interferon-AlphaXL, an interferon-alpha 2b for the treatment of hepatitis C virus and various oncology applications; FT-105 basal insulin, a long-acting formulation of recombinant human insulin to insulin-dependent patients; and interleukin-2 for the treatment of renal cancer. The companyais products based on Micropump technology comprise Coreg CR, an extended release formulation of carvedilol phosphate for use in the treatment of moderate to severe heart failure and left ventricular dysfunction following myocardial infarction, and hypertension; and Asacard162.5mg, a controlled release formulation of aspirin, which provide therapy for cardiovascular treatment. It has strategic alliances with GlaxoSmithKline, Merck Serono, Wyeth Pharmaceuticals, Pfizer, Corning S.A., Servier, and Corning Incorporated. Flamel Technologies S.A. was founded in 1990 and is headquartered in Venissieux, France.

Trimeris, Inc. (NASDAQ: TRMS), a biopharmaceutical company, engages primarily in the commercialization of a class of fusion inhibitors for antiviral drug treatments. Its fusion inhibitors impair viral fusion, a complex process by which viruses attach to, penetrate, and infect host cells. The company offers FUZEON, a human immunodeficiency virus (HIV) fusion inhibitor and a 36-amino acid synthetic peptide that binds to a key region of an HIV surface protein called gp41 under a collaboration with F. Hoffmann-La Roche Ltd. Its FUZEON inhibitor blocks HIV viral fusion by interfering with certain structural rearrangements within gp41 that are required for HIV to fuse to and enter a host cell. FUZEON is approved in the United States, Canada, and the European Union. The company also holds TRI-1144, a next generation fusion inhibitor candidate that completed Phase I clinical trials. Trimeris, Inc. was founded in 1993 and is based in Durham, North Carolina.

Spanish Broadcasting System, Inc. (NASDAQ: SBSA) operates as a Hispanic-controlled media and entertainment company in the United States. It owns and operates 21 radio stations; and 2 television stations under MegaTV brand name. The company also operates LaMusica.com, Mega.tv, and its radio station Websites, which are Spanish and English Websites that provide content related to Latin music, entertainment, news, and culture. In addition, it produces live concerts and events. The companyais radio station programming formats include Spanish Tropical, Regional Mexican, Spanish Adult Contemporary, Spanish Oldies, Top 40, News Talk, and Latin Rhythmic, the Hispanic Urban music format. Its television programming format focuses on entertainment and events, including televised radio-branded shows; and general entertainment programs, such as music, celebrity, debate, interviews, and personality-based shows. The company was founded in 1983 and is headquartered in Coconut Grove, Florida.

Comtech Telecommunications Corp. (NASDAQ: CMTL) engages in the design, development, production, and marketing of products, systems, and services for advanced communications solutions in the United States and internationally. It operates in three segments: Telecommunications Transmission, Mobile Data Communications, and RF Microwave Amplifiers. The Telecommunications Transmission segment provides satellite earth station equipment and systems, over-the-horizon microwave systems, and forward error correction technology, which are used in various commercial and government applications, including the transmission of voice, video, and data over the Internet; long distance telephony; and in backhaul of cellular traffic using satellites, broadcast, cable, and secure defense applications. The Mobile Data Communications segment provides mobile satellite transceivers, and computers and satellite earth station network gateways and associated installation, training, and maintenance services; and supplies and operates satellite packet data networks, including arranging and providing satellite capacity. The RF Microwave Amplifiers segment designs, develops, manufactures, and markets broadband amplifiers in the microwave and radio frequency spectrums. Its amplifiers are used in defense applications, including telecommunications systems, such as transmitting and boosting signals; and electronic warfare systems, including simulation, radar, jamming, as well as in commercial applications comprising oncology treatment systems and amplify signals carrying voice, video, or data for air-to-satellite-to-ground communications. The company serves satellite systems integrators, wireless and other communication service providers, defense contractors, military customers, manufacturers of copier and data storage products, and oil companies. Comtech markets its products through independent representatives and value-added resellers. The company was founded in 1967 and is headquartered in Melville, New York.

Carrizo Oil & Gas, Inc. (NASDAQ: CRZO), together with its subsidiaries, engages in the exploration, development, and production of natural gas and oil, primarily in the United States. The company focuses on proven and producing natural gas and oil geologic trends in the Barnett Shale area in North Texas with a focus on Southeast Tarrant County, Texas; the Marcellus Shale play in Pennsylvania, New York, West Virginia, and Virginia; and Fayetteville in Arkansas, Barnett/Woodford in West Texas/New Mexico, Floyd/Neal in Mississippi, and the New Albany in Kentucky/Illinois, as well as other properties in the U.K. North Sea. It also explores for, develops, and produces natural gas and oil from traditional geologic trends along the onshore Gulf Coast area in Texas, Louisiana, and Alabama, primarily in the Miocene, Wilcox, Frio, and Vicksburg trends. As of December 31, 2008, the company had approximately 82,331 gross mineral acres under lease and 864 gross and net mineral acres subject to lease options in the Barnett Shale; 230,148 gross acres in the Marcellus shale trend; and data licenses for approximately 8,527 square miles of 3-D seismic data and controlled 40,009 net acres of leasehold in the Gulf Coast area. It had total proved reserves of 502,584 million cubic feet equivalent of oil and natural gas. Carrizo Oil & Gas, Inc. was founded in 1993 and is based in Houston, 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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