Stocks & Investing
Stocks and Investing
Stocks and Investing
Thu, October 1, 2009
Wed, September 30, 2009 CIT Group (CIT) Daily Short Sale Trading Volume Through 9-29-09
September 30, 2009 / M2 PRESSWIRE / BUYINS.NET, www.buyins.net, has reviewed the NYSE, NASDAQ, BX, CHX and NSX Daily Short Volume Report through Tuesday, September 29th, 2009 and come to the following statistical conclusions. The chart below shows aggregated daily short volume in CIT Group (NYSE: CIT) for August through September 29, 2009. To access SqueezeTrigger Prices ahead of potential short squeezes beginning, visit http://www.buyins.net.
Date Short Volume Total Volume Percent
9/29/2009 34,527,090 357,570,900 9.66%
9/28/2009 1,979,281 26,584,000 7.45%
9/25/2009 1,748,504 25,373,000 6.89%
9/24/2009 2,361,375 40,359,500 5.85%
9/23/2009 6,410,271 103,641,700 6.19%
9/22/2009 12,135,342 166,722,200 7.28%
9/21/2009 865,850 24,792,000 3.49%
9/18/2009 308,047 16,290,100 1.89%
9/17/2009 913,104 19,777,000 4.62%
9/16/2009 928,380 20,234,000 4.59%
9/15/2009 729,871 18,994,600 3.84%
9/14/2009 609,080 19,070,000 3.19%
9/11/2009 925,455 21,903,800 4.23%
9/10/2009 636,806 17,110,300 3.72%
9/9/2009 1,369,214 20,818,700 6.58%
9/8/2009 1,710,332 25,652,800 6.67%
9/4/2009 1,410,935 28,313,500 4.98%
9/3/2009 2,262,593 34,786,600 6.50%
9/2/2009 3,100,704 48,849,800 6.35%
9/1/2009 6,878,917 103,029,400 6.68%
8/31/2009 7,923,740 95,919,100 8.26%
8/28/2009 14,971,112 193,081,100 7.75%
8/27/2009 11,174,362 157,575,700 7.09%
8/26/2009 1,614,070 40,363,200 4.00%
8/25/2009 1,475,985 34,916,700 4.23%
8/24/2009 1,824,718 48,564,400 3.76%
8/21/2009 1,899,181 41,828,900 4.54%
8/20/2009 2,991,117 45,284,100 6.61%
8/19/2009 3,876,423 36,194,500 10.71%
8/18/2009 6,349,291 76,157,300 8.34%
8/17/2009 16,650,199 154,444,900 10.78%
8/14/2009 3,975,987 50,219,000 7.92%
8/13/2009 8,296,827 105,392,600 7.87%
8/12/2009 5,451,689 76,606,000 7.12%
8/11/2009 10,028,493 143,619,500 6.98%
8/10/2009 5,650,834 66,625,000 8.48%
8/7/2009 19,370,599 210,994,600 9.18%
8/6/2009 22,975,291 226,692,200 10.14%
8/5/2009 23,347,038 292,475,700 7.98%
8/4/2009 3,650,039 45,442,900 8.03%
8/3/2009 11,519,458 118,174,500 9.75%
Total 266,827,604 3,400,445,800 7.85%
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.
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 companya�s 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.
About BUYINS.NET
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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