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50.21% Of All NASDAQ Trading Wednesday Was Short Selling. GGAL, AMAG, ICAD, QRCP, VMED, QDEL % Of Daily Trading Volume Short

^{Published on 2009-10-01 08:59:15, Last Modified on 2010-12-22 14:50:15 - WOPRAI}
 

October 1, 2009 / M2 PRESSWIRE / BUYINS.NET, www.buyins.net, has reviewed the NASDAQ Daily Short Volume Report for Wednesday, September 30th, 2009 and come to the following statistical conclusions. There were 6,710 stocks with daily short volume reported and total NASDAQ trading volume of 2,078,886,368 shares. Total Daily Short Volume was 1,043,864,228 shares. 50.21% of all trading on the NASDAQ 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. Grupo Financiero Galicia (NASDAQ: GGAL), AMAG Pharmaceuticals (NASDAQ: AMAG), iCAD (NASDAQ: ICAD), Quest Resource Corp (NASDAQ: QRCP), Virgin Media (NASDAQ: VMED) and Quidel Corp (NASDAQ: QDEL). To access SqueezeTrigger Prices ahead of potential short squeezes beginning, visit http://www.buyins.net.

DATE SYMBOL SHORT VOLUME TOTAL VOLUME MARKET PERCENT

20090930 GGAL 122,869 141,405 Q 86.89%

20090930 AMAG 167,773 206,333 Q 81.31%

20090930 ICAD 86,825 108,805 Q 79.80%

20090930 QRCP 98,512 126,412 Q 77.93%

20090930 VMED 2,198,217 2,822,315 Q 77.89%

20090930 QDEL 96,293 125,668 Q 76.62%

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.

Grupo Financiero Galicia S.A. (NASDAQ: GGAL) operates as the holding company for Banco de Galicia y Buenos Aires S.A. that provides financial products and services to large corporations, small and medium-sized companies, and individuals. The companya�s Wholesale Banking division provides personalized advise; commercial banking and investment banking products; working capital loans; finance to middle and long term investment projects; transactional services, such as deposit accounts, commercial credit cards, collection and payment services, cash management, international trade services, direct payroll deposit, alternatives in the capital markets, foreign trade solutions, and e-banking services; corporate banking; international factoring; and corporate and real estate business development services to various companies. Its Retail Banking division offers financial products and services, transaction solutions, such as checking and savings accounts, credit and debit cards, and payroll direct deposit; investment products, including certificates of deposit, mutual funds, and life insurance products; Internet banking; personal loans, credit-card loans, overdraft loans, and residential mortgages; securities and foreign exchange brokerage, securities custody, and safety boxes; and private banking services to individuals, businesses, small retailers, and professionals. The company, through its subsidiaries, provides brand credit cards and consumer finance services; property and casualty insurance products; and financial related products. As of December 31, 2008, it had 238 full service banking branches; and 620 automated teller machines and 754 self-service terminals. Grupo Financiero Galicia S.A. was founded in 1905 and is based in Buenos Aires, Argentina.

AMAG Pharmaceuticals, Inc. (NASDAQ: AMAG), a biopharmaceutical company, engages in the development and commercialization of therapeutic iron compounds to treat anemia in the United States, Europe, and Japan. It also provides novel imaging agents to aid in the diagnosis of cancer and cardiovascular diseases. It offers Feraheme, an iron replacement therapeutic agent for the treatment of iron deficiency anemia and used as a diagnostic agent for vascular enhanced magnetic resonance imaging (MRI) to assess peripheral arterial disease; and GastroMARK used for delineating the bowel in MRI. AMAG Pharmaceuticalsa� products also include Combidex, an investigational functional molecular imaging agent. The company was founded in 1981 and is based in Lexington, Massachusetts.

iCAD, Inc. (NASDAQ: ICAD) provides computer aided detection (CAD) solutions that enable radiologists and other healthcare professionals to identify pathologies and pinpoint cancer earlier. Its image analysis and workflow solutions in breast imaging (mammography) include SecondLook Digital, a computer server residing on a customera�s network that receives patient studies from the imaging modality, performs CAD analysis, and sends the CAD results to picture archiving and communication systems and/or review workstations; SecondLook 300 CAD solution to provide soft-copy reading and touch screen control of the image for image assessment; and SecondLook 200 CAD solutions for cancer detection at smaller facilities. The companya�s products for converting mammography films to digital images include TotalLook MammoAdvantage, a mammography specific digitizer, which converts prior mammography films to digital images. Its image analysis and workflow solutions in MRI imaging for breast and prostate cancer include SpectraLook and VividLook that enables radiologists with diagnostic information by creating colorized images based on signal changes defined by tumor physiology; and CADvue image review and analysis software to analyze ATP colorized images and quantitative data. The companya�s image analysis and workflow solutions in CT Colonography include VeraLook CAD solution to detect colonic polyps in conjunction with CTC. It sells digital mammography products through its direct regional sales organization in the United States, as well as through its original equipment manufacturer (OEM) partners; and distributes mammography CAD solutions in Europe through OEM partners. The company, formerly known as Howtek, Inc., was founded in 1984 and is headquartered in Nashua, New Hampshire.

Quest Resource Corporation (NASDAQ: QRCP), an integrated independent energy company, engages in the acquisition, exploration, development, gathering, production, and transportation of oil and natural gas in the United States. It operates in two segments, Oil and Gas Production, and Natural Gas Pipelines. The Oil and Gas Production segment primarily focuses on the development of coal bed methane in the Cherokee basin. As of December 31, 2008, it had 152.7 billion cubic feet equivalent of estimated net proved reserves; and operated approximately 2,438 gross gas wells and approximately 27 gross oil wells in the Cherokee Basin. This segment also owned 55 gross productive oil wells and the development rights to approximately 1,481 net acres with an estimated net proved reserves of approximately 588,800 billion barrels in Seminole County, Oklahoma; and approximately 500 gross gas wells and the development rights to approximately 68,161 net acres in the Appalachian Basin. The Natural Gas Pipelines segment involves in transporting, gathering, treating, and processing natural gas. It owns and operates a natural gas gathering pipeline network of approximately 2,173 miles in the Cherokee Basin, as well as a 1,120 mile interstate natural gas pipeline, which transports natural gas from northern Oklahoma and western Kansas to the metropolitan Wichita and Kansas City markets. This segment also has a gas gathering pipeline network of approximately 183 miles in the Appalachian Basin. Quest Resource Corporation was founded in 1982 and is headquartered in Oklahoma City, Oklahoma.

Virgin Media Inc. (NASDAQ: VMED), through its subsidiaries, provides broadband, television, mobile telephone, and fixed line telephone services in the United Kingdom. It operates through three segments: Cable, Mobile, and Content. The Cable segment distributes television programming over its cable network, and provides broadband and fixed line telephone services to consumers, businesses, and public sector organizations. The Mobile segment provides mobile telephone services under the name aVirgin Mobilea� to consumers over cellular networks owned by third parties. The Content segment operates various television channels, including Virgin 1, Living, and Bravo. This segment also holds interest in the UKTV television channels, through its joint venture with BBC Worldwide. It was formerly known as NTL Incorporated and changed its name to Virgin Media Inc. in February 2007. The company was founded in 1993 and is based in New York, New York.

Quidel Corporation (NASDAQ: QDEL), together with its subsidiaries, engages in the development, manufacture, and marketing of point-of-care (POC) diagnostic solutions for infectious diseases, and reproductive and women's health. It provides POC and other diagnostic tests under the QuickVue, QuickVue+, QuickVue Advance, Metra, Quidel, and MicroVue brand names. The company offers products for infectious diseases, such as Influenza, Group A Strep, and Respiratory Syncitial Virus; and for reproductive and women's health, including pregnancy, Chlamydia, Bacterial Vaginosis, and Bone Health. It also offers Immunoassay fecal occult blood test used to detect the presence of blood in stool specimens; and Helicobacter pylori test, a serological test to measure antibodies circulating in the blood caused by the immune response to the H. pylori bacterium. In addition, the company provides veterinary products; and clinical laboratory and research tests that are used in the measurement of circulating immune complexes, complement deficiencies, and complement activation. Quidel sells its products to professionals for use in physician offices, hospitals, clinical laboratories, retail clinics, and wellness screening centers through a network of national and regional distributors, and a direct sales force in the United States, as well as through distributor arrangements primarily in Japan, Europe, and the Middle East. Quidel Corporation was founded in 1979 and is based in San Diego, California.

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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.

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