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47.6% Of All NYSE Trading Wednesday Was Short Selling. SNG, REN, FOE, ATU, LXK, GNA Highest % Of Daily Trading Volume Short

^{Published on 2009-10-07 14:59:50, Last Modified on 2010-12-22 14:52:54 - WOPRAI}
 

October 8, 2009 / M2 PRESSWIRE / BUYINS.NET, www.buyins.net, has reviewed the NYSE Daily Short Volume Report for Wednesday, October 6th, 2009 and come to the following statistical conclusions. There were 6,392 stocks with daily short volume reported and total NYSE trading volume of 978,056,559 shares. Total Daily Short Volume was 466,039,074 shares. 47.6% of all trading on the NYSE 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. Canadian Superior Energy (AMEX: SNG), Resolute Energy (NYSE: REN), Ferro Corp (NYSE: FOE), Actuant Corp (NYSE: ATU), Lexmark International (NYSE: LXK) and Gerdau Ameristeel (NYSE: GNA). To access SqueezeTrigger Prices ahead of potential short squeezes beginning, visit http://www.buyins.net.

Date Symbol Short Volume Total Volume Market Percent

20091007 SNG 160,099 179,188 P 89.35%

20091007 REN 173,062 197,162 P 87.78%

20091007 FOE 71,759 83,509 P 85.93%

20091007 ATU 92,327 117,316 P 78.70%

20091007 LXK 127,433 163,733 P 77.83%

20091007 GNA 265,435 345,005 P 76.94%

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.

Canadian Superior Energy Inc. (AMEX: SNG) engages in the exploration for, acquisition, development, and production of petroleum and natural gas, and liquefied natural gas (LNG) projects primarily in western Canada, offshore Nova Scotia, offshore Trinidad and Tobago, the United States, and North Africa. The company was formerly known as Prize Energy Inc. and changed its name to Canadian Superior Energy Inc. in August 2000. Canadian Superior Energy was founded in 1983 and is headquartered in Calgary, Canada. On March 5, 2009, Canadian Superior Energy Inc. filed for Companies' Creditors Arrangement Act with the Court of Queen's Bench of Alberta.

Resolute (NYSE: REN) is an independent oil and gas company engaged in the acquisition, exploitation and development of oil and gas properties. The company operates producing properties in Utah, which were legacy properties acquired from two major oil companies, in connection with a strategic alliance with Navajo Nation Oil and Gas Company (wholly owned by the Navajo Nation) and in Wyoming and Oklahoma, which were acquired through the acquisition of a privately held oil and gas producer. In addition, Resolute owns exploration properties in Wyoming and Alabama.

Ferro Corporation (NYSE: FOE), together with its subsidiaries, produces specialty materials and chemicals for a range of manufacturers worldwide. It offers inorganic specialty products, including glazes, frits, enamels, pigments, dinnerware decorations, and other performance materials; organic specialty products, such as polymer specialty materials, engineered plastic compounds, pigments dispersions, and high-potency pharmaceutical active ingredients; and electronic materials comprising high-performance dielectrics, conductive pastes, metal powders, and polishing materials. The companya�s products are used in various applications in markets, including appliances, transportation, building and renovation, electronics, household furnishings, industrial products, packaging, and pharmaceuticals. It serves manufacturers of tile, appliances, construction materials, automobile parts, glass, bottles, vinyl flooring and wall coverings, solar cells, multi-layer capacitors, and pharmaceuticals. The company sells its products directly to customers, as well as through indirect sales channels, such as agents and distributors. Ferro Corporation was founded in 1919 and is headquartered in Cleveland, Ohio.

Actuant Corporation (NYSE: ATU) manufactures industrial products and systems worldwide. It operates in four segments: Industrial, Electrical, Actuation Systems, and Engineered Products. The Industrial segment engages in the design, manufacture, and distribution of branded hydraulic and mechanical tools to the maintenance, industrial, infrastructure, oil and gas, power generation, and production automation markets, as well as provides manpower services and product rental to the global joint integrity market. The Electrical segment involves in the design, manufacture, and distribution of electrical tools and supplies to the retail, electrical wholesale, original equipment manufacturers (OEMs), and marine markets. The Actuation Systems segment focuses on developing and marketing highly engineered position and motion control systems for OEMs in the recreational vehicle, automotive, truck, and other industrial markets. The Engineered Products segment designs and manufactures various products for industrial, aerospace, and power distribution markets. The company was founded in 1910 and is headquartered in Butler, Wisconsin.

Lexmark International, Inc. (NYSE: LXK) develops, manufactures, and supplies printing and imaging solutions for offices and homes. It offers laser printers, inkjet printers, and multifunctional devices, as well as provides cartridges and other supplies, services, and solutions. The company also sells dot matrix printers for printing single and multi-part forms by business users. In addition, it offers maintenance, consulting, systems integration, and distributed fleet management services, as well as provides managed print services, including asset lifecycle, consumables, and utilization management. The company offers its products through distributor network, discount store chains, information technology resellers, retailers, consumer electronics stores, office superstores, solution providers, direct response resellers, office supply dealers, and wholesale clubs, as well as online to financial services, retail, manufacturing, education, government, and health care industries. Lexmark International markets its products in North and South America, Europe, the Middle East, Africa, Asia, the Pacific Rim, and the Caribbean. The company was founded in 1990 and is headquartered in Lexington, Kentucky.

Gerdau Ameristeel Corporation (NYSE: GNA) operates as a mini-mill steel producer primarily in the United States and Canada. It operates through two segments, Mini-mills and Downstream. The Mini-mills segment manufactures and markets a range of steel products, including reinforcing steel bar (rebar), merchant bars, structural shapes, beams, special sections, and coiled wire rod (rod). This segment also produces rebar, merchant, rod, and SBQ products. The Downstream segment provides rebar fabrication and epoxy coating, railroad spike operations, and cold drawn products, as well as engages in super light beam processing. This segment also produces elevator guide rails, grinding balls, wire mesh, and wire drawing. The company sells its products to steel service centers, steel fabricators, and original equipment manufacturers for use in various industries comprising construction, mining, automotive, commercial, cellular and electrical transmission, metal building manufacturing, and equipment manufacturing. It was formerly known as Co-Steel Inc. and changed its name to Gerdau Ameristeel Corporation in October 2002. The company was founded in 1970 and is based in Tampa, Florida. Gerdau Ameristeel Corporation is a subsidiary of Gerdau S.A.

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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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