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49.59% Of All NASDAQ Trading Tuesday Was Short Selling. QRCP, CHYR, NEWT, CGNX, SBSA, CHIO Highest % Of Daily Trading Volume S

^{Published on 2009-10-13 14:10:05, Last Modified on 2010-12-22 14:55:29 - WOPRAI}
 

October 14, 2009 / M2 PRESSWIRE / BUYINS.NET, www.buyins.net, has reviewed the NASDAQ Daily Short Volume Report for Tuesday, October 13th, 2009 and come to the following statistical conclusions. There were 6,642 stocks with daily short volume reported and total NASDAQ trading volume of 1,500,107,478 shares. Total Daily Short Volume was 744,003,515 shares. 49.59% of all trading on the NASDAQ 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. Quest Resource Corp (NASDAQ: QRCP), Chyron Corp (NASDAQ: CHYR), Newtek Business Services (NASDAQ: NEWT), Cognex Corp (NASDAQ: CGNX), Spanish Broadcasting Systems (NASDAQ: SBSA) and China INSOnline Corp (NASDAQ: CHIO). To access SqueezeTrigger Prices ahead of potential short squeezes beginning, visit http://www.buyins.net.

DATE SYMBOL SHORT VOLUME TOTAL VOLUME MARKET PERCENT

20091013 QRCP 96,665 101,550 Q 95.19%

20091013 CHYR 38,250 40,900 Q 93.52%

20091013 NEWT 21,740 23,290 Q 93.34%

20091013 CGNX 48,736 54,846 Q 88.86%

20091013 SBSA 164,169 186,716 Q 87.92%

20091013 CHIO 145,846 167,146 Q 87.26%

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.

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.

Chyron Corporation (NASDAQ: CHYR) supplies graphics hardware, software, and workflow solutions to the television industry worldwide. The companya�s hardware products include Graphics System/CG Family for television graphics applications; Channel Box systems for branding applications; XClyps/XClyps SAN/MicroClyps for control over graphics playout; and CodiStrator HD/SD Telestration System for dual commentators. The companya�s software products comprise Lyric, a graphics creation and playback application; Lyric Enhancement Interface Framework, a Chyron application programming interface; and Chyron Application Library to create broadcast graphics applications. It also offers newsroom integration and asset management products comprising CAMIO, a suite of asset management tools, search engine, and visual browser; iSQ, an intelligent sequencer; OMS, an order management system; and mobile suite of products, such as WAPSTR, a multimedia messaging gateway and MOS2WAP for publication of WAP pages. In addition, Chyron Corporation provides information display systems consisting of ChyTV for digital signage applications; ChyTV.net for home network operators; ChyTV HD 100 and HD 150, a video graphics information display system; ChyTV Plus, which provides S-video and component video inputs and outputs; ChyAlert that adds alert messages; and ChyAlert-2CH, a two-channel video emergency and security alert system. Further, it provides graphic design services, technical service, and support and training. The company also offers interFuse technology that provides solutions in an integrated environment. It serves broadcast, production, and post-production facilities; media outlets; government agencies; telecommunications and corporate customers; and educational, health, and religious institutions. The company was formerly known as Computer Exchange, Inc. and changed its name to Chyron Corporation in November 1975. Chyron Corporation was founded in 1966 and is headquartered in Melville, New York.

Newtek Business Services, Inc. (NASDAQ: NEWT), together with its subsidiaries, operates as a distributor of business services to small-and medium-sized businesses in the United States. It provides electronic payment processing services, including credit card, debit card, check conversion, and ACH solutions; Web hosting and related services, including domain registration and online shopping cart tools, as well as Linux-based Web hosting and Web-based data storage and back-up. The company also originates, sells, and services small businesses loans by the U.S. Small Business Administration to acquire commercial real estate, machinery, equipment, and inventory, as well as to refinance debt and fund franchises, working capital, and business acquisitions. In addition, it offers insurance services, including commercial, health and benefits, and personal lines of insurance; accounts receivable purchasing and financing services; Web design and development services; off-site data backup, storage, and retrieval services; and payroll management processing and employee tax filing services. The company has strategic partnerships and contracts with Credit Union National Association; PSCU Financial Services; and Fiserv Solutions, Inc. Newtek Business Services, Inc. was founded in 1998 and is headquartered in New York, New York.

Cognex Corporation (NASDAQ: CGNX) provides machine vision products primarily in the United States, Japan, and Europe. Its machine vision products capture and analyze visual information used to automate tasks primarily in manufacturing processes, where vision is required. The company operates in two divisions, Modular Vision Systems and Surface Inspection Systems. The Modular Vision Systems division develops, manufactures, and markets modular vision systems that are used to automate the manufacture of discrete items, such as cellular phones, aspirin bottles, and automobile wheels, by locating, identifying, inspecting, and measuring them during the manufacturing process. The Surface Inspection Systems division develops, manufactures, and markets surface inspection vision systems that are used to inspect the surfaces of materials processed in a continuous fashion, such as metals, paper, non-wovens, plastics, and glass. The company serves discrete factory automation, semiconductor and electronics capital equipment, and surface inspection markets. It sells its products through direct sales force and a network of integration and distribution partners. The company was founded in 1981 and is headquartered in Natick, Massachusetts.

Spanish Broadcasting System, Inc. (NASDAQ: SBSA) operates as a Hispanic-controlled media and entertainment company in the United States. It owns and operates 21 radio stations; and 2 television stations under MegaTV brand name. The company also operates LaMusica.com, Mega.tv, and its radio station Websites, which are Spanish and English Websites that provide content related to Latin music, entertainment, news, and culture. In addition, it produces live concerts and events. The companya�s radio station programming formats include Spanish Tropical, Regional Mexican, Spanish Adult Contemporary, Spanish Oldies, Top 40, News Talk, and Latin Rhythmic, the Hispanic Urban music format. Its television programming format focuses on entertainment and events, including televised radio-branded shows; and general entertainment programs, such as music, celebrity, debate, interviews, and personality-based shows. The company was founded in 1983 and is headquartered in Coconut Grove, Florida.

China INSOnline Corp. (NASDAQ: CHIO) operates as an Internet service and media company in the Peoplea�s Republic of China. The company, through its Web site, soobao.cn, provides a network portal to insurance companies, agents, and consumers for advertising, online inquiry, news circulation, online transactions, and statistic analysis and software development. It also offers Web site construction services to marketing teams in the insurance industry; and software development services, as well as operates as a licensed online motor vehicle, property, and life insurance agent. The company was founded in 2006 and is based in Central, Hong Kong.

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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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