Stocks & Investing
Stocks and InvestingStocks and Investing 
Wed, October 14, 2009
Tue, October 13, 2009
47.65% Of All NYSE Trading Tuesday Was Short Selling. SPP, URX, SSS, GRT, CEC, HXM Highest % Of Daily Trading Volume Short
October 14, 2009 / M2 PRESSWIRE / BUYINS.NET, www.buyins.net, has reviewed the NYSE Daily Short Volume Report for Tuesday, October 13th, 2009 and come to the following statistical conclusions. There were 6,439 stocks with daily short volume reported and total NYSE trading volume of 992,448,650 shares. Total Daily Short Volume was 472,970,339 shares. 47.65% of all trading on the NYSE Tuesday was short selling. The chart below highlights 6 stocks that had unusually high percentages of their total daily trading volume attributed to short sales. Sappi Limited (NYSE: SPP), United Refining Energy (AMEX: URX), Sovran Self Storage (NYSE: SSS), Glimcher Realty Trust (NYSE: GRT), CEC Entertainment (NYSE: CEC) and Homex Development (NYSE: HXM). To access SqueezeTrigger Prices ahead of potential short squeezes beginning, visit http://www.buyins.net.
Date Symbol Short Volume Total Volume Market Percent
20091013 SPP 90,675 92,675 P 97.84%
20091013 URX 150,300 157,100 P 95.67%
20091013 SSS 76,113 88,073 P 86.42%
20091013 GRT 46,980 55,780 P 84.22%
20091013 CEC 72,973 91,042 P 80.15%
20091013 HXM 35,600 44,700 P 79.64%
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.
Sappi Limited (NYSE: SPP) operates in the pulp and paper industry worldwide. It produces coated fine paper for use in books, brochures, magazines, catalogues, corporate communications materials, direct mail promotions, educational textbooks, and luxury advertising. The company also offers uncoated paper for business forms, business stationery, general printing paper, tissue, and photocopy paper; and specialty paper for bags, labels, packaging, and release paper for casting textured finishes. In addition, it provides packaging paper for the packaging of fast moving consumer, agricultural, and industrial products; and ground wood products, including newsprint paper for advertising inserts and newspapers, as well as coated ground wood/magazine paper. Further, the company offers paper pulp for use as a raw material in the production of printing, writing, and packaging paper; chemical cellulose for the manufacture of viscose fiber, acetated tow, and consumer and pharmaceutical products; timber products for construction and furniture manufacturing purposes; and uncoated graphic and business papers. Its customers include merchants, converters, printers, publishers, and other direct customers. The company was formerly known as South African Pulp and Paper Industries Limited and changed its name to Sappi Limited in 1973. Sappi Limited was founded in 1936 and is headquartered in Johannesburg, South Africa.
United Refining Energy Corporation (AMEX: URX) does not have significant operations. It intends to acquire an operating business in the energy industry through a merger, capital stock exchange, asset acquisition, or other similar business combination. The company primarily focuses on acquiring the businesses or assets involved in the refining of petroleum products. United Refining Energy Corporation was founded in 2007 and is based in New York, New York.
Sovran Self Storage, Inc. (NYSE: SSS) operates as a real estate investment trust (REIT). It engages in the acquisition, ownership, and management of self-storage properties in the United States. The companya�s self-storage properties offer storage space to residential and commercial users, as well as offer outside storage for automobiles, recreational vehicles, and boats. As of February 15, 2007, it owned and managed 328 properties, consisting of approximately 20.3 million net rentable square feet in 22 states. Sovran Self Storage has elected to be treated as a REIT for federal income tax purposes and would not be subject to income tax to the extent it distributes at least 90% of taxable income to its stockholders. The company was founded in 1982 and is headquartered in Williamsville, New York.
Glimcher Realty Trust (NYSE: GRT) operates as a real estate investment trust (REIT) in the United States. It owns, leases, acquires, develops, and operates a portfolio of retail properties, including regional and super regional malls, as well as community shopping centers. As of December 31, 2007, the company managed and leased 27 properties, including 23 malls and 4 community centers located in the states of Ohio, West Virginia, California, Florida, North Carolina, Pennsylvania, Kansas, Kentucky, Minnesota, New Jersey, Oklahoma, Oregon, Tennessee, and Washington. Glimcher Realty Trust has elected to be taxed as a REIT and would not be subject to corporate income tax on that portion of its net income that is distributed to shareholders. The company was founded in 1993 and is headquartered in Columbus, Ohio.
CEC Entertainment, Inc. (NYSE: CEC), together with its subsidiaries, develops, operates, and franchises family dining and entertainment centers under the name aChuck E. Cheesea�sa� in the United States and internationally. Its stores feature musical and comic entertainment by robotic and animated characters, arcade-style and skill oriented games, video games, rides, and other activities for families with children between 2 and 12 years of age. As of December 28, 2008, the company operated 495 Chuck E. Cheesea�s stores located in 44 states and Canada; and its franchisees operated 46 stores in the United States, Puerto Rico, Guatemala, Chile, Saudi Arabia, and the United Arab Emirates. CEC Entertainment, Inc. was founded in 1980 and is based in Irving, Texas.
Desarrolladora Homex, S.A.B. de C.V. (NYSE: HXM) operates as a vertically integrated home developing company principally focused on the promotion, design, development, construction, and sale of entry level and middle income housing in Mexico. The company also operates a new division focused on the promotion, design, construction, and sale of upper-income tourism housing. It has land reserves of 79.2 million square meters, which include the titled land and land in the process of being titled. The company operates as a geographically diverse homebuilder in the country, and has a position in the four principal markets of Mexico comprising Mexico City metropolitan area, Monterrey, Guadalajara, and Tijuana. Desarrolladora Homex, S.A.B. de C.V. was founded in 1989 and is based in Culiacan, Mexico.
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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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