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47.4% Of All NYSE Trading Wednesday Was Short Selling. BXS, GET, MTU, PHH, ETN, TCB Highest % Of Daily Trading Volume Short

^{Published on 2009-09-23 14:42:18, Last Modified on 2010-12-22 14:46:58 - WOPRAI}
 

September 24, 2009 / M2 PRESSWIRE / BUYINS.NET, www.buyins.net, has reviewed the NYSE Daily Short Volume Report for Wednesday, September 23rd, 2009 and come to the following statistical conclusions. There were 6,493 stocks with daily short volume reported and total NYSE trading volume of 1,359,171,997 shares. Total Daily Short Volume was 644,826,312 shares. 47.4% 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. Bancorp South (NYSE: BXS), Gaylord Entertainment (NYSE: GET), Mitsubishi UFJ Financial Group (NYSE: MTU), PHH Corp (NYSE: PHH), Eaton Corp (NYSE: ETN) and TCF Financial Corp (NYSE: TCB). To access SqueezeTrigger Prices ahead of potential short squeezes beginning, visit http://www.buyins.net.

Date Symbol Short Volume Total Volume Market Percent

20090923 BXS 200,879 218,778 P 91.82%

20090923 GET 392,139 470,197 P 83.40%

20090923 MTU 466,591 598,652 P 77.94%

20090923 PHH 150,052 198,380 P 75.64%

20090923 ETN 89,371 118,207 P 75.61%

20090923 TCB 274,661 365,144 P 75.22%

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.

BancorpSouth, Inc. (NYSE: BXS) operates as a financial holding company for BancorpSouth Bank that provides commercial banking and financial services to individuals, and small-to-medium sized businesses in Mississippi, Tennessee, Alabama, Arkansas, Texas, Louisiana, Florida, Missouri, and Illinois. It generates various deposits, such as interest bearing and noninterest bearing demand deposits, saving deposits, and time deposits. The company provides various commercial loan services, including term loans, lines of credit, equipment and receivable financing, and agricultural loans, as well as a range of short-to-medium term secured and unsecured commercial loans to businesses for working capital, business expansion, and the purchase of equipment and machinery. Its residential consumer lending activities consist of the origination of fixed and adjustable rate residential mortgage loans secured by owner-occupied property, construction loans, second mortgage loans, and home equity lines of credit; and non-residential consumer lending activities comprise automobile loans, recreation vehicle loans, boat loans, secured and unsecured personal loans, deposit account secured loans, and student loans. The company also serves as an agent in the sale of title insurance; commercial lines of insurance; and a line of property and casualty, life, health, and employee benefit products and services. In addition, it offers investment services comprising brokerage, investment advisory, and asset management services; and trust services, including personal trust and estate services, and employee benefit accounts and plans, such as individual retirement accounts and corporate trust functions. As of December 31, 2008, it operated approximately 313 commercial banking, trust, and insurance business offices. The company was founded in 1876 and is headquartered in Tupelo, Mississippi.

Gaylord Entertainment Company (NYSE: GET), through its subsidiaries, operates as a diversified hospitality and entertainment company in the United States. The company focuses on the large group meetings and conventions sector of the lodging market. It owns and operates the Gaylord Hotels branded hotels, which include the Gaylord Opryland Resort and Convention Center in Nashville, Tennessee; the Gaylord Palms Resort and Convention Center in Kissimmee, Florida; the Gaylord Texan Resort and Convention Center in Grapevine, Texas; and the Gaylord National Resort & Convention Center located on the Potomac River in Prince Georgeais County, Maryland. Gaylord Entertainment Company also owns and operates the Radisson Hotel at Opryland in Nashville, Tennessee. In addition, the company operates the Nashville-based tourist attractions, which comprise the Grand Ole Opry, a live country music variety show; the General Jackson Showboat, a 300-foot, four-deck paddle wheel showboat, on the Cumberland river; the Wildhorse Saloon, a country music performance venue; the Ryman Auditorium, a venue for concerts and musical productions; and the Gaylord Springs Golf Links, a golf course located near the Opryland complex. Further, it engages in the production of creative events in the corporate entertainment marketplace, as well as the ownership and operation of the WSM-AM radio station. The company was founded in 1955 and is headquartered in Nashville, Tennessee.

Mitsubishi UFJ Financial Group, Inc. (NYSE: MTU), together with its subsidiaries, provides a range of financial services to retail and corporate customers in Japan and internationally. The company offers various asset management and asset administration services, including savings instruments, such as current accounts, ordinary deposits, time deposits, deposits at notice, non-interest-bearing deposit accounts, and other deposit facilities. It also provides trust products, including loan trusts and money trusts; and other investment products, such as investment trusts, performance-based money trusts, and foreign currency deposits. The company sells individual annuity insurance products comprising investment-type individual annuities, foreign currency denominated insurance annuities, and yen denominated fixed-amount annuity insurance products. In addition, it offers a range of security products, including public offerings, foreign and domestic investment trusts, Japanese government bonds, and foreign bonds; and housing loans, card loans, and other loans to individuals. The company also provides its products and services through automated teller machine network; and telephone, mobile, and Internet banking. Further, it offers advisory services to customers in the areas of mergers and acquisitions, inheritance-related business transfers, and stock listings; advices on financing methods to meet various financing needs, such as loans with derivatives, corporate bonds, commercial paper, asset-backed securities, securitization programs, and syndicated loans; and arrangement services relating to private placements for medium-sized enterprise issuers and institutional investors. The company also provides a range of services to corporate and other pension funds, including stable and secure pension fund management and administration, advice on pension schemes, and payment of benefits to scheme members. Mitsubishi UFJ Financial Group was founded in 1880 and is headquartered in Tokyo, Japan.

PHH Corporation (NYSE: PHH) provides mortgage and fleet management outsourcing services in the United States. The company operates in three segments: Mortgage Production, Mortgage Servicing, and Fleet Management Services. The Mortgage Production segment originates, purchases, and sells mortgage loans, including PHH home loans. It also offers private label mortgage services to financial institutions and real estate brokers. In addition, this segment provides appraisal services, credit research, flood certification, and tax services. The Mortgage Servicing segment offers various services comprising collecting loan payments; remitting principal and interest payments to investors; and managing escrow funds for payment of mortgage-related expenses, such as taxes and insurance. This segment also services mortgage loans, purchases mortgage servicing rights (MSRs), and acts as a subservicer for clients that own the underlying MSRs, as well as provides reinsurance services. The Fleet Management Services segment provides commercial fleet management services to corporate clients and government agencies. Its fleet leasing and fleet management services include vehicle leasing, fleet policy analysis and recommendations, benchmarking, vehicle recommendations, ordering and purchasing vehicles, arranging for vehicle delivery, and administration of the title and registration process, as well as tax and insurance requirements, pursuing warranty claims, and remarketing used vehicles. This segment also provides vehicle maintenance service cards used to facilitate payment for repairs and maintenance; accident management services, such as immediate assistance; and fuel card services that facilitate the payment, monitoring, and control of fuel purchases. The company was founded in 1946 and is based in MT. Laurel, New Jersey.

Eaton Corporation (NYSE: ETN) operates as a power management company primarily in the United States, Canada, Europe, Latin America, and the Asia Pacific. The company provides electrical components and systems for power quality, distribution, and control; hydraulics components, systems, and services for industrial and mobile equipment; aerospace fuel, hydraulics, and pneumatic systems for commercial and military use; and truck and automotive drivetrain and powertrain systems for performance, fuel economy, and safety. It also manufactures screw-in cartridge valves, custom-engineered hydraulic valves, and manifold systems. In addition, the company designs, manufactures, and distributes intake and exhaust valves for diesel and gasoline engines; and supplies electrical components for commercial and residential building applications, and industrial controls for industrial equipment applications. Further, it operates as a distributor and service provider of single phase and three-phase uninterruptible power supply systems. It has a joint venture agreement with Nittan Global Tech Co. Ltd. to manage the design manufacture and supply of engine valves and valve actuation products to Japanese and Korean automobile and engine manufacturers. The company was founded in 1916 and is headquartered in Cleveland, Ohio.

TCF Financial Corporation (NYSE: TCB) operates as a holding company for TCF National Bank and TCF National Bank Arizona that offer various retail and commercial banking services in the United States and Canada. It offers various deposit instruments including consumer, small business, and commercial demand deposit accounts; interest-bearing checking accounts; money market accounts; regular savings accounts; certificates of deposit; and retirement savings plans. The companyais loan portfolio comprises consumer loans, commercial real estate loans, commercial business loans, lease and equipment finance, and inventory finance loans. As of December 31, 2008, it had 448 retail banking branches, including 206 branches in Illinois, 111 in Minnesota, 56 in Michigan, 36 in Colorado, 27 in Wisconsin, 7 in Arizona, and 5 in Indiana. The company was founded in 1923 and is based in Wayzata, Minnesota.

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