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49.01% Of All NYSE Trading Thursday Was Short Selling. AAU, NWD, SFY, STC, BJ, LAD Highest % Of Daily Trading Volume Short

^{Published on 2009-10-08 16:54:55, Last Modified on 2010-12-22 14:53:20 - WOPRAI}
 

October 9, 2009 / M2 PRESSWIRE / BUYINS.NET, www.buyins.net, has reviewed the NYSE Daily Short Volume Report for Thursday, October 8th, 2009 and come to the following statistical conclusions. There were 6,453 stocks with daily short volume reported and total NYSE trading volume of 1,135,098,035 shares. Total Daily Short Volume was 556,264,755 shares. 49.01% of all trading on the NYSE Thursday was short selling. The chart below highlights 6 stocks that had unusually high percentages of their total daily trading volume attributed to short sales. Almaden Minerals (AMEX: AAU), New Dragon Asia Corp (AMEX: NWD), Swift Energy (NYSE: SFY), Stewart Information Services (NYSE: STC), BJs Wholesale Club (NYSE: BJ) and Lithia Motors (NYSE: LAD). To access SqueezeTrigger Prices ahead of potential short squeezes beginning, visit http://www.buyins.net.

Date Symbol Short Volume Total Volume Market Percent

20091008 AAU 88,175 92,886 P 94.93%

20091008 NWD 81,900 93,015 P 88.05%

20091008 SFY 64,136 77,636 P 82.61%

20091008 STC 249,418 303,918 P 82.07%

20091008 BJ 235,755 290,477 P 81.16%

20091008 LAD 168,560 217,600 P 77.46%

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.

Almaden Minerals Ltd. (AMEX: AAU) engages in the exploration and development of mineral properties primarily in Canada, the United States, and Mexico. It principally focuses on gold, silver, and copper properties. The company holds interests in various properties, including the Elk Gold project in Canada; and the Caballo Blanco, the San Carlos, and the Tuligtic properties in Mexico. Almaden Minerals also holds interests in the La Bufa, the Caldera, the Cerro Colorado, the Campanario, the El Fuego, the Matehuapil, the Santa Isabela, the Tropico, the Tuligtic, the Yago, and the Viky projects in Mexico; and the Brookmere, the Lac de Gras, the Logan, Merit, the Nicoamen, the Ponderosa, the Prospect Valley, the Skoonka Creek, the Spence's Bridge Gold Belt, and the Tarsis projects in Canada. The company was founded in 1980 and is based in Vancouver, Canada.

New Dragon Asia Corp. (AMEX: NWD), together with its subsidiaries, engages in the milling, sale, and distribution of flour and related products to retail and wholesale customers. It produces and markets wheat flour for use in bread, dumplings, noodles, and confectionary products. The company also provides various instant noodle products, such as packet noodles for home preparation, as well as snacks and cup noodles for outdoor convenience. In addition, New Dragon Asia offers soybean products, including soybean protein powder and soybean powder to food and beverage manufacturers. Its flour products are marketed under the aLong Fenga� brand name. The company sells its products principally through distributors in the Peoplea�s Republic of China. New Dragon Asia also exports noodle products to South Korea, Australia, Malaysia, and Indonesia. The company was founded in 1999 and is based in Longkou, the Peoplea�s Republic of China.

Swift Energy Company (NYSE: SFY) engages in developing, exploring, acquiring, and operating oil and natural gas properties in Louisiana and Texas. As of December 31, 2008, the company had estimated proved reserves of 116.4 million barrels of oil equivalent. Swift Energy was founded in 1979 and is headquartered in Houston, Texas.

Stewart Information Services Corporation (NYSE: STC), through its subsidiaries, provides insurance and related information services required for settlement by the real estate and mortgage industries. The company operates in two segments, Title Insurance-Related Services and Real Estate Information (REI). The Title Insurance-Related Services segment provides services, such as searching for and examining documents, including deeds, mortgages, wills, divorce decrees, court judgments, paving assessments, and tax records, as well as offers title insurance for residential and commercial properties, undeveloped acreage, farms, ranches, and water rights. The REI segment provides electronic delivery of data, products, and services related to real estate, as well as origination and post-closing services, such as title and settlement services to residential mortgage lenders. Its products include basic vesting and legal description, mortgage modification services, conforming loan submissions, alternative products, and vendor management services. This segment also provides credit reporting services through credit bureaus, appraisal services and automated property valuations, and initial loan disclosures. In addition, it offers products and services, such as Internal Revenue Code Section 1031 tax-deferred property exchanges; real estate database conversion, construction, maintenance, and access; automation for government recording and registration; and pre-employment screening and background investigation services. The company has operations in the United States, Canada, the United Kingdom, Central Europe, Mexico, Central America, and Australia. It serves mortgage lenders and servicers, mortgage brokers, home buyers and sellers, government entities, commercial and residential real estate agents, land developers, builders, and title insurance agencies, as well as accountants, attorneys, and investors. The company was founded in 1893 and is based in Houston, Texas.

BJs Wholesale Club, Inc. (NYSE: BJ) operates warehouse clubs in the eastern United States. The company offers food products, such as frozen foods, fresh meat and dairy products, beverages, dry grocery items, fresh produce and flowers, canned goods, and household paper products; and general merchandise products, including consumer electronics, prerecorded media, small appliances, tires, jewelry, health and beauty aids, household needs, chemicals, computer software, books, greeting cards, apparel, furniture, toys, and seasonal items. It also offers specialty services, including the operation of optical centers, food courts, garden and storage sheds, patios and sunrooms, and wireless centers; and provision of home improvement, BJa�s Vacations, installation of home security systems, propane tank filling, automobile buying, car rental, television and home theater installation, and muffler and brake services, as well as electronics and jewelry protection plans. In addition, the company, through its Web site, bjs.com, provides electronics, computers, office equipment, products for the home, health and beauty aids, sporting goods, outdoor living, baby products, toys, and jewelry products; and provides various services, including auto and home insurance, home improvement, travel services, and membership services. As of January 31, 2009, it operated 180 warehouse clubs in 15 states, as well as operated 102 gasoline stations in its clubs. The company was founded in 1996 and is based in Natick, Massachusetts. BJ's Wholesale Club, Inc. operates independently of Waban, Inc. as of July 28, 1997.

Lithia Motors, Inc. (NYSE: LAD) operates as an automotive franchisee and retailer of new and used vehicles. It sells new and used cars, and light trucks; replacement parts; and provides vehicle maintenance, warranty, paint, and repair services, as well as offers finance, service contracts, protection products, and credit insurance. The company also offers its product through Internet. As of March 16, 2009, it offered 27 brands of new vehicles and various brands of used vehicles in 92 stores in the United States. The company was founded in 1946 and is based in Medford, Oregon.

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