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48.41% Of All NYSE Trading Tuesday Was Short Selling. VCP, RDY, FR, FBP, RRC, MIR Highest % Of Daily Trading Volume Short

^{Published on 2009-09-29 14:25:56, Last Modified on 2010-12-22 14:49:28 - WOPRAI}
 

September 30, 2009 / M2 PRESSWIRE / BUYINS.NET, www.buyins.net, has reviewed the NYSE Daily Short Volume Report for Tuesday, September 29th, 2009 and come to the following statistical conclusions. There were 6,423 stocks with daily short volume reported and total NYSE trading volume of 911,381,327 shares. Total Daily Short Volume was 430,902,515 shares. 48.41% of all trading on the NYSE Tuesday was short selling. The chart below highlights 6 stocks that had unusually high percentages of their total daily trading volume attributed to short sales. Votorantim Celulose (NYSE: VCP), Dr. Reddys Laboratories (NYSE: RDY), First Industrial Realty Trust (NYSE: FR), First Bancorp (NYSE: FBP), Range Resources (NYSE: RRC) and Mirant Corporation (NYSE: MIR). To access SqueezeTrigger Prices ahead of potential short squeezes beginning, visit http://www.buyins.net.

Date Symbol Short Volume Total Volume Market Percent

20090929 VCP 104,735 123,903 P 84.53%

20090929 RDY 165,427 205,074 P 80.67%

20090929 FR 263,729 328,544 P 80.27%

20090929 FBP 115,985 148,847 P 77.92%

20090929 RRC 333,580 435,812 P 76.54%

20090929 MIR 197,998 259,051 P 76.43%

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.

Votorantim Celulose e Papel S.A. (NYSE: VCP), together with its subsidiaries, engages in the manufacture and marketing of pulp and paper products in North America, Latin America, Europe, and Asia/the Middle East/Oceania/Africa. The companyais product portfolio includes bleached eucalyptus kraft pulp, such as hardwood pulp. Its pulp products are used to manufacture a range of printing and writing paper products, including coated and uncoated printing and writing papers, thermal papers, carbonless papers, and other specialty papers. In addition, Votorantim Celulose involves in the distribution of graphic papers and products. The company was formerly known as Indstrias de Papel Simo S.A. and changed its name to Votorantim Celulose e Papel S.A. in January 1995. Votorantim Celulose e Papel S.A. is based in So Paulo, Brazil. The company operates as a subsidiary of Votorantim Participacoes S.A.

Dr. Reddys Laboratories Limited (NYSE: RDY), together with its subsidiaries, operates as a pharmaceutical company. It produces finished dosage forms, active pharmaceutical ingredients and intermediates, and biotechnology products. The company also conducts research in the areas of cancer, diabetes, cardiovascular, inflammation, and bacterial infection. In addition, it involves in the contract manufacture generic prescription and over-the-counter products for branded and generic companies in the United States. The company primarily focuses on therapeutic categories of cardiovascular, diabetes management, gastro-intestinal, and pain management. It markets its products in India, the United States, Europe, and the Russian Federation. The company has a co-development and commercialization agreement with Rheoscience A/S for the development and commercialization of Balaglitazone/DRF 2593, a partial PPAR-gamma agonist for the treatment of type 2 diabetes; an agreement with ClinTec International for the development of an anti-cancer compound, DRF 1042; collaboration with the National Cancer Institute in Maryland; and an agreement with Argenta Discovery Limited for the joint development and commercialization of a novel approach to the treatment of chronic obstructive pulmonary disease. It also has an agreement with 7TM Pharma for drug discovery collaboration on selected drug targets; and an agreement with GlaxoSmithKline plc to develop and market pharmaceuticals for the treatment of cardiovascular disease, diabetes, oncology, gastroenterology, and pain management. Dr. Reddyais Laboratories Limited was founded in 1984 and is headquartered in Hyderabad, India.

First Industrial Realty Trust, Inc. (NYSE: FR) operates as a real estate investment trust. The company engages in the ownership, management, acquisition, sale, development, and redevelopment of industrial real estate properties. As of December 31, 2007, its in-service portfolio included 403 light industrial properties, 125 research and development/flex properties, 162 bulk warehouse properties, 89 regional warehouse properties, and 25 manufacturing properties containing approximately 64 million square feet of gross leasable area located in 28 states in the United States and 1 province in Canada. The company has elected to be taxed as a REIT and would not be subject to federal income tax, provided it distributes 90% of its taxable income to its shareholders. First Industrial Realty Trust was founded in 1993 and is headquartered in Chicago, Illinois.

First BanCorp (NYSE: FBP) operates as the bank holding company for FirstBank Puerto Rico that provides financial services and products for retail, commercial, and institutional clients in Puerto Rico, the United States, and the British Virgin Islands. The company offers various deposit products, such as interest-bearing and non-interest bearing checking and savings accounts; individual retirement accounts; and retail certificates of deposit. It also provides commercial loans, including commercial real estate and construction loans; and auto, boat, and personal loans, as well as lines of credit. In addition, the company involves in the origination, sale, and servicing of various residential mortgage loan products. Further, it offers cash management and business management services. Additionally, the company provides vehicle leasing and daily rental, insurance agency, international banking, finance lease, and mortgage loan services. As of April 1, 2009, it operated 194 branches, stand-alone offices, and in-branch service centers. First BanCorp was founded in 1948 and is based in San Juan, Puerto Rico.

Range Resources Corporation (NYSE: RRC), an independent oil and gas company, engages in the exploration, development, and acquisition of oil and gas properties primarily in the southwestern, Appalachian, and Gulf Coast regions of the United States. The companyais southwestern operations include the Barnett Shale of north central Texas, the Permian Basin of west Texas, and eastern New Mexico, as well as the East Texas Basin, the Texas Panhandle, and the Anadarko Basin of western Oklahoma. Its Appalachian operations include tight-gas, shale, coal bed methane, and conventional oil and gas production in Pennsylvania, Virginia, Ohio, New York, and West Virginia. The companyais Gulf Coast operations include Texas, Louisiana, and Mississippi. It sells gas to utilities, marketing companies, and industrial users. As of December 31, 2008, Range Resources Corporation had 2.7 Tcfe of proved reserves. It also owns and operates 5,255 miles of gas gathering pipelines in Appalachia, which transport gas to transmission lines, and directly to end-users and interstate pipelines. The company was formerly known as Lomak Petroleum, Inc. and changed its name to Range Resources Corporation in 1998. Range Resources Corporation was founded in 1975 and is headquartered in Fort Worth, Texas.

Mirant Corporation (NYSE: MIR) produces and sells electricity in the United States. It generates electricity through coal-fired, and oil and gas generating facilities. The companyais operations primarily consist of procuring fuel, dispatching electricity, hedging the production and sale of electricity by its generating facilities, managing fuel oil, and providing logistical support for the operation of its facilities. Its customers include independent system operators, regional transmission organizations, and investor-owned utilities. As of December 31, 2008, Mirant owned or leased approximately 10,112 megawatts of net electric generating capacity in the Mid-Atlantic and Northeast regions, as well as in California. It also operates an integrated asset management and energy marketing organization. The company was founded in 1982 and is headquartered in Atlanta, Georgia.

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