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49.76% Of All NASDAQ Trading Tuesday Was Short Selling. VIAP, EPEX, BNVI, TLCV, NAVR, FLOW Highest % Of Daily Trading Volume S

^{Published on 2009-09-29 14:58:41, Last Modified on 2010-12-22 14:49:33 - WOPRAI}
 

September 30, 2009 / M2 PRESSWIRE / BUYINS.NET, www.buyins.net, has reviewed the NASDAQ Daily Short Volume Report for Tuesday, September 28th, 2009 and come to the following statistical conclusions. There were 6,721 stocks with daily short volume reported and total NASDAQ trading volume of 1,573,430,199 shares. Total Daily Short Volume was 782,944,531 shares. 49.76% of all trading on the NASDAQ 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. VIA Pharmaceuticals (NASDAQ: VIAP), Edge Petroleum (NASDAQ: EPEX), Bionovo (NASDAQ: BNVI), TLC Vision (NASDAQ: TLCV), Navarre (NASDAQ: NAVR) and Flow International (NASDAQ: FLOW). To access SqueezeTrigger Prices ahead of potential short squeezes beginning, visit http://www.buyins.net.

DATE SYMBOL SHORT VOLUME TOTAL VOLUME MARKET PERCENT

20090929 VIAP 87,121 92,522 Q 94.16%

20090929 EPEX 66,422 71,567 Q 92.81%

20090929 BNVI 62,573 72,723 Q 86.04%

20090929 TLCV 75,984 89,010 Q 85.37%

20090929 NAVR 70,431 85,281 Q 82.59%

20090929 FLOW 103,110 127,470 Q 80.89%

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.

VIA Pharmaceuticals, Inc. (NASDAQ: VIAP), a development stage biotechnology company, focuses on the research and development of compounds for the treatment cardiovascular and metabolic diseases. The company is building a pipeline of small-molecule drugs that target inflammation in the blood vessel wall, an underlying cause of atherosclerosis and its complications, including heart attack and stroke. Its principal product, VIA-2291, is in Phase II clinical trials in patients with acute coronary syndrome and patients with stenosis of the carotid artery. The company has agreements with Hoffmann-LaRoche Inc. and Hoffmann-LaRoche Ltd. to develop and commercialize two sets of compounds for the treatment of cardiovascular and metabolic disease. VIA Pharmaceuticals was founded in 2004 and is headquartered in San Francisco, California.

Edge Petroleum Corporation (NASDAQ: EPEX), an independent oil and natural gas company, engages in the acquisition, exploration, development, and production of crude oil and natural gas resources in the United States. The company conducts its operations along the onshore United States Gulf Coast, primarily in south Texas, southeast New Mexico, Mississippi, Arkansas, Alabama, Michigan, and south Louisiana. As of December 31, 2008, its net proved reserves were 124.1 billion cubic feet equivalent, comprised of 89.6 billion cubic feet of natural gas, 3.5 million barrels of natural gas liquids, and 2.3 million barrels of crude oil and condensate. The company was founded in 1983 and is based in Houston, Texas.

Bionovo, Inc. (NASDAQ: BNVI), a clinical stage drug discovery and development company, focuses on womena�s health and cancer primarily in the United States. Its lead drug candidate, Menerba, is a receptor sub-type selective estrogen receptor modulator for the treatment of vasomotor symptoms of menopause. Bionovo, Inc. also develops BZL101, an oral anti-cancer agent for advanced breast cancer, as well as VG101, a preclinical drug candidate for the treatment of post-menopausal vulvar and vaginal atrophy. The company was founded in 2002 and is based in Emeryville, California.

TLC Vision Corporation (NASDAQ: TLCV), an eye care services company, provides refractive center, eye care, and doctor services in the United States and Canada. It operates in six segments: Refractive Centers, Mobile Cataract, Refractive Access, Other, Optometric Franchising, and Age-Related Macular Degeneration (AMD). The Refractive Centers segment owns and manages centers that employ laser technologies to treat refractive vision disorders, such as myopia, hyperopia, and astigmatism. The Mobile Cataract segment provides the technology and diagnostic equipment and services to doctors and hospitals to support cataract surgery, as well as treatment of other eye diseases. It offers phaco emulsifiers with back-ups, surgical microscopes, intraocular lens, and surgical instruments and supplies, as well as provides YAG capsulotomies and SLT lasers treatments. The Refractive Access segment assists surgeons in providing corrective laser surgery in their practice location by providing refractive technology, technicians, service, and practice development support at the surgeona�s office. The Other segment, as of December 31, 2008, held ownership interests in two surgical operations that include refractive practices and ambulatory surgical centers (ASCs). It also had ownership interest in five free-standing ASCs. The Optometric Franchising segment provides marketing, practice development, and purchasing power to independently-owned and operated optometric practices. The AMD segment holds ownership interests in OccuLogix, Inc., a health care company that focuses on ophthalmic devices for the diagnosis and treatment of age-related eye diseases. The company was formerly known as TLC Laser Eye Centers Inc. and changed its name to TLC Vision Corporation in May 2002. TLC Vision Corporation was founded in 1993 and is based in Mississauga, Canada.

Navarre Corporation (NASDAQ: NAVR) engages in the publication and distribution of physical and digital home entertainment and multimedia products in the United States and Canada. It operates in two segments, Publishing and Distribution. The Publishing segment owns or licenses PC software and DVD video titles, and other related merchandising and broadcasting rights. It licenses and publishes entertainment, personal productivity, genealogy, system utility, education, and interactive gaming PC products; and anime and entertainment video products, as well as offers DVD and video products, and in-house produced DVDs. This segment packages, brands, markets, and sells directly to retailers, third party distributors, and its distribution business. The Distribution segment distributes various finished goods, including PC software, DVD video, and video games software and accessories to retail customers. This segment also offers a range of value-added services to vendors and retailers, including vendor-managed inventory, Internet-based ordering, electronic data interchange, fulfillment, and retailer-oriented marketing services. The companya�s customers include wholesale clubs, mass merchandisers, third party distributors, computer specialty stores, book stores, office superstores, and electronic superstores. Navarre Corporation was founded in 1983 and is headquartered in New Hope, Minnesota.

Flow International Corporation (NASDAQ: FLOW), together with its subsidiaries, designs, develops, manufactures, markets, installs, and services ultrahigh-pressure waterjet technology. Its ultrahigh-pressure water pumps generate pressures from 40,000 to approximately 87,000 pounds per square inch, and power waterjet systems that are used to cut and clean materials, such as food and paper products, and steel and carbon fiber composites. The company also provides ultrahigh-pressure industrial cleaning systems, which are used in waterjet cleaning for surface preparation. In addition, it provides automation and articulation systems; and offers consumable parts and services that are used by the pump and cutting head during operation, such as seals and orifices, as well as sells various tools and accessories, which incorporate ultrahigh-pressure technology, and aftermarket consumable parts and service for its products. The company offers its products for various applications in industries, including aerospace, defense, automotive, semiconductors, disposable products, food, glass, job shop, sign, metal cutting, marble, tile and other stone cutting, paper slitting and trimming, and industrial cleaning. It has operations in North America, Europe, South America, and the Asia-Pacific. The company was founded in 1974 and is headquartered in Kent, Washington.

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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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