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CIT, ABK, MBI, PFE, WFT, LVS With Highest Daily Short Volume On NYSE Tuesday

^{Published on 2009-09-22 16:37:47, Last Modified on 2010-12-22 14:46:22 - WOPRAI}
 

September 23, 2009 / M2 PRESSWIRE / BUYINS.NET, www.buyins.net, has reviewed the NYSE Daily Short Volume Report for Tuesday, September 22nd, 2009 and come to the following statistical conclusions. There were 6,493 stocks with daily short volume reported and total NYSE trading volume of 1,113,399,058 shares. Total Daily Short Volume was 514,272,413 shares. 46.19% of all trading on the NYSE Tuesday was short selling. The chart below highlights 6 stocks that had the highest daily short volume on Tuesday. CIT Group (NYSE: CIT), Ambac Financial Group (NYSE: ABK), MBIA (NYSE: MBI), Pfizer (NYSE: PFE), Weatherford International (NYSE: WFT) and Las Vegas Sands (NYSE: LVS). To access SqueezeTrigger Prices ahead of potential short squeezes beginning, visit http://www.buyins.net.

Date Symbol Short Volume Total Volume Market Percent

20090922 CIT 4,259,693 13,601,433 P 31.32%

20090922 ABK 3,173,575 14,131,769 P 22.46%

20090922 MBI 2,335,607 5,048,410 P 46.26%

20090922 PFE 2,314,367 3,923,146 P 58.99%

20090922 WFT 1,401,051 2,408,107 P 58.18%

20090922 LVS 1,280,326 3,613,518 P 35.43%

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.

CIT Group Inc. (NYSE: CIT) operates as the holding company for CIT bank that provides commercial financing and leasing products, and management advisory services to the small and middle market companies worldwide. Its products principally include asset based loans; secured lines of credit; operating, capital, and leveraged leases; vendor finance programs; import and export financing; debtor-in-possession/turnaround financing; acquisition and expansion financing; letters of credit/trade acceptances structuring; and small business loans. The companyais services primarily comprise financial risk management; asset management and servicing; merger and acquisition advisory services; debt restructuring; credit protection; accounts receivable collection; debt underwriting and syndication; capital markets; and insurance services for small businesses and middle market customers. It serves clients in various industries, including transportation, particularly aerospace and rail, manufacturing, wholesaling, retailing, healthcare, communications, media and entertainment, and various service-related industries. The company was founded in 1908 and is headquartered in New York, New York.

Ambac Financial Group, Inc. (NYSE: ABK), through its subsidiaries, provides financial guarantees and financial services to clients in the public and private sectors worldwide. The company operates through two segments, Financial Guarantee and Financial Services. The Financial Guarantee segment provides financial guarantee insurance and other credit enhancement products in the U.S. public finance market, the U.S. structured finance and asset-backed market, and the international finance market. The Financial Services segment manages interest rate swap and investment agreement run off businesses for municipalities and other public entities, health care organizations, investor-owned utilities, and asset-backed issuers. Ambac Financial Group was founded in 1971 and is headquartered in New York, New York.

MBIA Inc. (NYSE: MBI) provides financial guarantee insurance and credit protection products, as well as investment management services to public finance and structured finance issuers, investors, and capital market participants worldwide. The company operates in two segments, Insurance and Investment Management Services. The Insurance segment issues financial guarantees for municipal bonds, asset-backed and mortgage-backed securities, investor-owned utility bonds, bonds backed by publicly or privately funded public-purpose projects, bonds issued by sovereign and sub-sovereign entities, and bonds backed by other revenue sources, such as corporate franchise revenues. It also insures credit default swaps on structured pools of corporate obligations, residential mortgage-backed securities, and commercial real estate backed securities and loans. The Investment Management Services segment offers asset/liability products; advisory services, including cash management, discretionary asset management, and structured products provided on a fee-for-service basis for public, not-for-profit, corporate, and financial services clients; and conduits provided funding for multiple customers by issuance of commercial paper and medium-term notes. The company was founded in 1973 and is based in Armonk, New York.

Pfizer Inc. (NYSE: PFE) engages in the discovery, development, manufacture, and marketing of prescription medicines for humans and animals worldwide. Its Pharmaceutical segment offers Lipitor for elevated cholesterol levels in the blood; Norvasc for hypertension; Caduet for cardiovascular events; Chantix/Champix for smoking cessation; Lyrica for neuropathic pain; Geodon/Zeldox, a psychotropic agent; and Aricept for Alzheimerais disease. It also provides Celebrex for arthritis pain, and inflammation and acute pain; Vfend for esophageal candidiasis and blood stream infections; Zyvox for bacterial infections; and Selzentry/Celsentri for adults infected with only CCR5-tropic HIV-1 detectable. In addition, this segment provides Viagra for erectile dysfunction; Detrol and Toviaz for overactive bladder; Camptosar for metastatic colorectal cancer; Sutent, an oral multi-kinase inhibitor; Xalatan/Xalacom for open-angle glaucoma and ocular hypertension; and Genotropin for growth disorders. The companyais Animal Health segment offers parasiticides, anti-inflammatories, antibiotics, vaccines, antiemetics, and anti-obesity agents. It also provides Revolution/Stronghold for dogs and cats; Rimadyl for pain and inflammation associated with canine osteoarthritis and soft tissue orthopedic surgery; Clavamox/Synulox for skin and soft tissue infections; RespiSureOne/StellamuneOne to prevent pneumonia in swine; Bovi-Shield Gold for reproductive and respiratory protection; Dectomax, an injectable and pour-on formulations; Draxxin, an antibiotic for infections in cattle and swine; and Excede to treat infections in dairy cows, beef cattle, and swine. Pfizer Inc. also involves in contract manufacturing and bulk pharmaceutical chemicals businesses. It serves doctors, nurse practitioners, physician assistants, pharmacists, hospitals, pharmacy benefit managers, managed care organizations, and government agencies. The company was founded in 1849 and is headquartered in New York, New York.

Weatherford International Ltd. (NYSE: WFT) provides equipment and services used in the drilling, evaluation, completion, production, and intervention of oil and natural gas wells to independent oil and natural gas producing companies worldwide. It primarily offers artificial lift systems, which include progressing cavity pumps, reciprocating rod lift systems, gas lift systems, hydraulic lift systems, plunger lift systems, and hybrid lift systems, as well as wellhead systems and production optimization. The company also designs and manufactures drilling jars, rotating control devices, and other pressure-control equipment used in drilling oil and natural gas wells; and provides a selection of in-house or third-party manufactured equipment for the drilling, completion, and work over of oil and natural gas wells for operators and drilling contractors. In addition, Weatherford International offers a line of completion tools and sand screens; wireline and evaluation services; re-entry, fishing, and thru-tubing services; pipeline and specialty services; and drilling and well construction services. Further, it provides chemical technology and services comprising fracturing technologies, production chemical systems, and capillary injection technology and services, as well as operates land drilling rigs. Weatherford International has a Joint Development Agreement with Exxon Mobil Corp. to develop and commercialize MazeFloTM technology. The company was founded in 1972 and is based in Zug, Switzerland.

Las Vegas Sands Corp. (NYSE: LVS) and its subsidiaries develop multi-use integrated resorts worldwide. It owns and operates The Venetian Resort Hotel Casino, The Palazzo Resort Hotel Casino, and The Sands Expo and Convention Center in Las Vegas, Nevada; and the Sands Macao, The Venetian Macao Resort Hotel, and the Four Seasons Hotel Macao, Cotai Strip in Macao, the Peopleais Republic of China. The company is also developing Marina Bay Sands, an integrated resort in Singapore; and Sands Casino Resort Bethlehem, an integrated resort in Bethlehem, Pennsylvania. Las Vegas Sands Corp. was founded in 1988 and is headquartered in Las Vegas, Nevada.

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