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48.36% Of All NASDAQ Trading Monday Was Short Selling. NYFX, ETRM, VRTU, IRDM, CRGN, ALTU Highest % Of Daily Trading Volume Sh

^{Published on 2009-09-28 15:16:45, Last Modified on 2010-12-22 14:48:54 - WOPRAI}
 

September 29, 2009 / M2 PRESSWIRE / BUYINS.NET, www.buyins.net, has reviewed the NASDAQ Daily Short Volume Report for Monday, September 28th, 2009 and come to the following statistical conclusions. There were 6,607 stocks with daily short volume reported and total NASDAQ trading volume of 1,285,954,177 shares. Total Daily Short Volume was 621,894,319 shares. 48.36% 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. NYFIX (NASDAQ: NYFX), EnteroMedics (NASDAQ: ETRM), Virtusa Corp (NASDAQ: VRTU), GHL Acquisition Corp (NASDAQ: IRDM), CuraGen (NASDAQ: CRGN) and Altus Pharmaceuticals (NASDAQ: ALTU). To access SqueezeTrigger Prices ahead of potential short squeezes beginning, visit http://www.buyins.net.

DATE SYMBOL SHORT VOLUME TOTAL VOLUME MARKET PERCENT

20090928 NYFX 52,151 53,574 Q 97.34%

20090928 ETRM 180,740 203,433 Q 88.84%

20090928 VRTU 81,566 94,037 Q 86.74%

20090928 IRDM 52,691 60,991 Q 86.39%

20090928 CRGN 187,892 227,267 Q 82.67%

20090928 ALTU 203,339 246,914 Q 82.35%

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.

NYFIX, Inc. (NASDAQ: NYFX), together with its subsidiaries, provides trading workstations, middle office trade automation technologies, and trade messaging services in the United States and internationally. It operates in three divisions: FIX, Transaction Services, and Order Management Systems (OMS). The FIX division offers aNYFIX Marketplace Servicea� that allows clients to communicate with trading counterparties as members of the NYFIX Marketplace and access other services. This division also sells software licenses and provides consultative services to financial institutions and third-party software vendors to build and manage securities trading systems and applications using FIX and related messaging services. The Transaction Services division provides anonymous matching under Regulation ATS and order routing for the U.S. equity securities; offers algorithmic trading technology to enhance execution results, direct market access, and access to NYFIX Millennium; settles and clears transactions; operates a matched book stock borrow/stock loan business; and resells products and services offered by FIX division and OMS division. The OMS division offers broker-dealers desktop solutions that enable trading in various markets, including the NYSE, NYSE Alternext, and Nasdaq. This segmenta�s products include order management, routing and straight through processing (STP), interfaces to back office systems, data storage and retrieval, electronic submission of trade data to NYSE systems, and other services to facilitate STP. The companya�s clients include the U.S. exchange member, the U.S. non exchange member, and the non U.S. securities firms; the U.S. hedge funds; and registered investment advisers. NYFIX was founded in 1955 and is headquartered in New York, New York with additional offices in London, Hong Kong, Tokyo, as well as in Boston, Massachusetts and Lyndhurst, New Jersey.

EnteroMedics Inc. (NASDAQ: ETRM), a development stage medical device company, focuses on design and development of devices that use neuroblocking technology to treat obesity and other gastrointestinal disorders. Its proprietary neuroblocking technology is designed to intermittently block the vagus nerve using electrical impulses. The companya�s initial product under development is the Maestro System, which is used to limit the expansion of the stomach, control hunger sensations between meals, reduce the frequency and intensity of stomach contractions, and produce a feeling of early and prolonged fullness. It focuses on marketing its product to potential referral source clinicians, such as general practitioners, internists, endocrinologists, and nurses. EnteroMedics has collaboration with Mayo Clinic for research and development of devices for vagal blocking therapy to treat obesity. The company formerly known as Beta Medical, Inc. and changed its name to EnteroMedics, Inc. in October 2003. EnteroMedics was founded in 2002 and is headquartered in St. Paul, Minnesota.

Virtusa Corporation (NASDAQ: VRTU) provides information technology (IT) services worldwide. It offers IT consulting, technology implementation, and application outsourcing services. The companya�s IT consulting services include assessment and planning services that comprise application inventory and portfolio assessment, business/technology alignment analysis, IT strategic planning, and quality assurance process consulting; architecture and design services, which consist of enterprise architecture analysis, technology roadmaps, product evaluation and selection, and business process analysis and design; and governance-related services that include program governance and change management, program management office planning, and IT process/methodology consulting. Its technology implementation services include development services, which consist of application development, package implementation and integration, software product engineering, business process management implementation, and enterprise content management; legacy asset management services that include systems consolidation and rationalization, technology migration and porting, and Web-enablement of legacy applications; data warehousing services, which comprise data management and transformation, and business intelligence reporting and decision support; and testing services that include testing frameworks, automation of test data and cases, and test cycle execution. The companya�s application outsourcing services include application and platform management services, which consist of production support, maintenance and enhancement of applications, and ongoing software engineering; infrastructure management services that include systems and database administration, and monitoring; and quality assurance management services. The company was formerly known as eRunway, Inc. and changed its name to Virtusa Corporation in May 2002. Virtusa Corporation was incorporated in 1996 and is headquartered in Westborough, Massachusetts.

GHL Acquisition Corp. (NASDAQ: IRDM) does not have significant operations. It intends to acquire businesses or assets through a merger, capital stock exchange, asset acquisition, stock purchase, reorganization, or other similar business combination. The company was founded in 2007 and is headquartered in New York, New York.

CuraGen Corporation (NASDAQ: CRGN), a biopharmaceutical development company, develops novel therapeutics for the treatment of cancer in the United States and Europe. The company focuses on the development of CR011-vcMMAE, a Phase II clinical trail drug for the treatment of patients with metastatic melanoma and breast cancer. It has strategic collaborations with Amgen Fremont to develop fully-human monoclonal antibody therapeutics; and Seattle Genetics, Inc. to license Seattle Geneticsa� proprietary antibody- drug conjugate technology. The company was founded in 1991 and is headquartered in Branford, Connecticut.

Altus Pharmaceuticals Inc. (NASDAQ: ALTU), together with its subsidiaries, focuses on the development and commercialization of oral and injectable protein therapeutics for patients with gastrointestinal and metabolic disorders. Its lead product candidates include ALTU-238, completed Phase II clinical trial in adults, is a crystallized formulation of human growth hormone for the treatment of hormone deficiency and related disorders; and ALTU-237, completed Phase I clinical trial, which is used for the treatment of hyperoxalurias and kidney stones. The companya�s preclinical research and development programs include ALTU-236, an orally-administered enzyme replacement therapy product candidate designed to reduce the long-term effects associated with excess levels of phenylalanine; and ALTU-242, an orally-administered enzyme product candidate designed to reduce the long-term effects associated with excess levels of urate, which precipitates and forms crystals in joints causing a painful erosive arthritis, known as gout. Its product candidates are designed to substitute a protein that is in short supply in the body, degrade toxic metabolites in the gut, and remove them from the blood stream. Altus Pharmaceuticals has a license agreement with Cystic Fibrosis Foundation Therapeutics, Inc. to use its intellectual property to develop, manufacture, and commercialize any product using, in any combination, the three active pharmaceutical ingredients which comprise Trizytek. Altus Pharmaceuticals Inc. was formerly known as Altus Biologics Inc. and changed its name to Altus Pharmaceuticals Inc. in May 2004. The company was incorporated in 1992 and is based in Waltham, Massachusetts.

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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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