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WFC, MGM, MOT, JPM, FMX, TWX With Highest Daily Short Volume On NYSE Thursday

^{Published on 2009-10-02 07:37:20, Last Modified on 2010-12-22 14:50:32 - WOPRAI}
 

October 2, 2009 / M2 PRESSWIRE / BUYINS.NET, www.buyins.net, has reviewed the NYSE Daily Short Volume Report for Thursday, October 1st, 2009 and come to the following statistical conclusions. There were 6,432 stocks with daily short volume reported and total NYSE trading volume of 1,384,285,607 shares. Total Daily Short Volume was 689,793,264 shares. 49.8% of all trading on the NYSE Thursday was short selling. The chart below highlights 6 stocks that had the highest daily short volume on Thursday. Wells Fargo (NYSE: WFC), MGM Mirage (NYSE: MGM), Motorola (NYSE: MOT), JPMorgan Chase (NYSE: JPM), Fomento Economico Mexicano (NYSE: FMX) and Time Warner (NYSE: TWX). To access SqueezeTrigger Prices ahead of potential short squeezes beginning, visit http://www.buyins.net.

Date Symbol Short Volume Total Volume Market Percent

20091001 WFC 3,904,563 6,145,493 P 63.54%

20091001 MGM 3,156,186 5,214,747 P 60.52%

20091001 MOT 2,272,314 4,582,488 P 49.59%

20091001 JPM 2,083,826 6,018,013 P 34.63%

20091001 FMX 1,767,724 3,053,139 P 57.90%

20091001 TWX 1,751,206 2,858,404 P 61.27%

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.

Wells Fargo & Company (NYSE: WFC), through its subsidiaries, provides retail, commercial, and corporate banking services principally in the United States. The company operates through three segments: Community Banking, Wholesale Banking, and Wells Fargo Financial. The Community Banking segment offers deposit products, including checking accounts, savings deposits, market rate accounts, individual retirement accounts, time deposits, and debit cards. Its loan products include lines of credit, equity lines and loans, equipment and transportation loans, education loans, residential mortgage loans, and credit cards. This segment also provides receivables and inventory financing, equipment leases, real estate financing, small business administration financing, venture capital financing, cash management, payroll services, retirement plans, and merchant payment processing services. The Wholesale Banking segment provides commercial and corporate banking products and services, including commercial loans and lines of credit, letters of credit, asset-based lending, equipment leasing, mezzanine financing, high-yield debt, foreign exchange services, treasury management, investment management, institutional fixed-income sales, commodity and equity risk management, insurance, corporate trust fiduciary and agency services, and investment banking services. This segment also provides banking products for commercial real estate market. The Wells Fargo Financial segment engages in consumer finance and auto finance operations. Consumer finance operations make direct consumer and real estate loans to individuals and purchase sales finance contracts from retail merchants; and finance operations engage in making loans secured by autos. This segment also offers credit cards, as well as lease and other commercial financing products. As of December 31, 2008, Wells Fargo & Company provided its services through 11,000 stores. The company was founded in 1929 and is headquartered in San Francisco, California.

MGM MIRAGE (NYSE: MGM), through its subsidiaries, owns and operates casino resorts in the United States. The companyais resorts offer gaming, hotel, dining, entertainment, retail, and other resort amenities. It also owns and operates golf courses and a golf club. As of December 31, 2008, the companyais properties consisted of 17 wholly-owned casino resorts and 50% investments in 4 other casino resorts. MGM MIRAGE also operates luxury hotels in the Middle East and Asia. It has a strategic alliance with the Mashantucket Pequot Tribal Nation, which owns and operates a casino resort under the MGM Grand brand name in Ledyard, Connecticut. The company, formerly known as MGM Grand, Inc., was founded in 1986 and is based in Las Vegas, Nevada. MGM MIRAGE is a subsidiary of Tracinda Corporation.

Motorola, Inc. (NYSE: MOT) offers technologies, products, and services for mobile communications worldwide. It operates in three segments: Mobile Devices, Home and Networks Mobility, and Enterprise Mobility Solutions. The Mobile Devices segment designs, manufactures, sells, and services wireless handsets with integrated software and accessory products, as well as licenses intellectual property. The Home and Networks Mobility segment designs, manufactures, sells, installs, and services digital video, Internet Protocol video, and broadcast network interactive set-tops; end-to-end video delivery solutions, broadband access infrastructure systems, and associated data and voice customer premise equipment to cable television and telecom service providers; and wireless access systems, including cellular infrastructure systems and wireless broadband systems to wireless service providers. It also provides end-to-end cellular networks, including radio base stations, base station controllers, associated software and services, application platforms, and third-party switching for CDMA, GSM, iDEN, and UMTS technologies; and a portfolio of WiMAX products to create mobile IP broadband access. The Enterprise Mobility Solutions segment designs, manufactures, sells, installs, and services analog and digital two-way radio, voice, and data communication products and systems for private networks, wireless broadband systems, and end-to-end enterprise mobility solutions to a range of enterprise markets, including government and public safety agencies, as well as retail, energy, utility, transportation, manufacturing, healthcare, and other commercial customers. Motorola, Inc. markets its products and services through direct sales, distributors, dealers, retailers, and licensees. The company was founded in 1928 and is based in Schaumburg, Illinois.

JPMorgan Chase & Co. (NYSE: JPM), a financial holding company, provides a range of financial services worldwide. It operates in six segments: Investment Bank, Commercial Banking, Treasury & Securities Services, Asset Management, Retail Financial Services, and Card Services. Investment Bank segment provides investment banking products and services, including advising on corporate strategy and structure, capital raising in equity and debt markets, risk management, market-making in cash securities and derivative instruments, and prime brokerage and research. It serves corporations, financial institutions, governments, and institutional investors. Retail Financial Services segment offers regional banking, mortgage banking, and auto finance services that include checking and savings accounts, mortgages, home equity and business loans, and investments through bank branches, ATMs, online banking, and telephone banking. Card Services segment issues credit cards and processes MasterCard and Visa payments. Commercial Banking segment provides lending, treasury services, investment banking, and asset management services to corporations, municipalities, financial institutions, and not-for-profit entities. Treasury and Securities Services segment offers transaction, investment, and information services. It also offers cash management, trade, wholesale card, and liquidity products and services to small and mid-sized companies, multinational corporations, financial institutions, and government entities. Asset Management segment provides investment and wealth management services to institutions, retail investors, and high-net-worth individuals. It also offers global investment management in equities, fixed income, real estate, hedge funds, private equity, and liquidity, including money market instruments and bank deposits; provides trust and estate, banking, and brokerage services; and retirement services. JPMorgan Chase & Co. was founded in 1823 and is headquartered in New York, New York.

Fomento Econmico Mexicano, S.A.B. de C.V. (NYSE: FMX), through its subsidiaries, operates as a beverage company in Latin America. The company produces, distributes, and markets various Coca-Cola trademark beverages primarily under Coca-Cola, Coca-Cola Light, Sprite, Fanta, Fresca, Lift, Senzao, Beat, Delaware Punch, Ciel Mineralizada, Ciel, and Powerade names. It offers various beverage products ranging from juices, nectars, orangeades, vitamin water, hydro-tonics, energy drinks, and isotonic to green tea. The company also produces beer and flavored alcoholic beverages primarily under Carta Blanca, Tecate, Tecate Light, Superior, Sol, Dos Equis Lager, Dos Equis Ambar, Indio, Bohemia, Noche Buena, Kaiser, and Bavaria names. In addition, it operates a chain of convenience stores in Mexico. As of March 31, 2009, it operated 6,542 stores under the trade name, OXXO. The company also engages in the production and distribution of labels, plastic cases, coolers, and commercial refrigeration equipment, as well as the provision of transportation logistics and maintenance services. Fomento Econmico Mexicano was founded in 1890 and is headquartered in Monterrey, Mexico.

Time Warner Inc. (NYSE: TWX) operates as a media and entertainment company in the United States and internationally. It operates in four segments: AOL, Filmed Entertainment, Networks, and Publishing. The AOL segment provides online advertising services on the AOL Network and third-party Internet sites, as well as develops and operates the AOL Network, a network of Web brands, free client software and services, and social media network for Internet consumers. This segment also operates Internet access subscription services in the United States. The Filmed Entertainment segment produces and distributes theatrical motion pictures, television shows, and animation and other programming; and distributes home video products, and licenses rights to its feature films, television programming, and characters. The Networks segment provides domestic and international networks and pay television programming services, which consist of the multi-channel HBO and Cinemax pay television programming services. The Publishing segment publishes magazines; and operates various Web sites, as well as involves in direct-marketing and direct-selling businesses. It publishes magazines on celebrities; sports; lifestyle, beauty, and fashion; life, home, body, and soul; news and events; economic and business developments; and consumer. The company has strategic alliances with Google, Inc. and ALDAR Properties PJSC. Time Warner Inc. was founded in 1985 and is based in New York, New York.

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