Stocks & Investing
Stocks and Investing
Stocks and Investing
Wed, October 14, 2009
Tue, October 13, 2009 Short Sale Recap. Highest % Of Daily Trading Volume Short All Exchanges Combined For Monday
October 13, 2009 / M2 PRESSWIRE / BUYINS.NET, www.buyins.net, has reviewed the NYSE, NASDAQ, BX, CHX and NSX Daily Short Volume Report for Monday, October 12th, 2009 and come to the following statistical conclusions. The chart below highlights 6 stocks that had unusually high percentages of their total daily trading volume attributed to short sales. Sunair Services (AMEX: SNR), Golfsmith International Holdings (NASDAQ: GOLF), Inuvo (AMEX: INUV), Beneficial Mutual Bancorp (NASDAQ: BNCL), TGC Industries (NASDAQ: TGE) and DRD Gold (NASDAQ: DROOY). To access SqueezeTrigger Prices ahead of potential short squeezes beginning, visit http://www.buyins.net.
Symbol Short Volume Total Volume Percent
SNR 83,762 104,284 80.32%
GOLF 49,438 77,500 63.79%
INUV 38,300 64,100 59.75%
BNCL 108,953 187,100 58.23%
TGE 144,240 272,611 52.91%
DROOY 104,933 218,974 47.92%
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.
Sunair Services Corporation (AMEX: SNR), through its subsidiary, Middleton Pest Control, Inc., provides lawn care and pest control services to residential and commercial customers in Florida. It offers pest control services and protection against termite damage, rodents, and insects to homes and businesses. The company supplies lawn care services to homes and businesses, which include fertilization treatments and protection against disease, weeds, and insects for lawns and shrubs. Sunair Services Corporation, formerly known as Sunair Electronics, Inc., was founded in 1956 and is based in Deerfield Beach, Florida.
Golfsmith International Holdings, Inc. (NASDAQ: GOLF), through its subsidiary, Golfsmith International, Inc., operates as a specialty retailer of golf and tennis equipment, apparel, and accessories. Its retail products include golf clubs; golf and tennis apparel, including shirts, sweaters, vests, pants, shorts, and outerwear; accessories, such as jewelry, watches, and leather goods; golf and tennis footwear for men, women, and juniors; and golf balls. The company also provides global position system range finder units; golf and tennis accessories, such as tees, sunglasses, cleaning and repair kits, towels, tennis bags, tennis strings, and golf cart heaters; and tennis racquets. In addition, Golfsmith International Holdings develops and promotes proprietary merchandise, including apparel, clubs, golf bags and covers, pull and push carts, shoes, furnishings, training aids, gifts, and accessories; and club components comprising club heads, shafts, and grips. The company also operates a golf instruction school, the Harvey Penick Golf Academy. As of January 3, 2009, it operated 72 stores in Alabama, Arizona, California, Colorado, Connecticut, Florida, Georgia, Illinois, Indiana, Michigan, Minnesota, New Jersey, New York, Ohio, North Carolina, Oregon, Pennsylvania, Tennessee, and Texas. Golfsmith International Holdings also offers its products through catalog and Internet sales. The company was founded in 1967 and is headquartered in Austin, Texas.
Inuvo, Inc. (AMEX: INUV), through its subsidiaries, provides interactive performance-based advertising networks and technology platforms to businesses and individuals in the United States. It operates through two segments, Network and Direct. The Network segment provides marketing and technology solutions to assist advertisers in driving traffic, obtaining leads, and increasing conversions through affiliate marketing, search engine marketing, and lead generation. This segmenta�s operations include PrimaryAds, a cost per action affiliate network; ValidClick AdExchange, a pay per click marketplace; Second Bite, an order abandonment recovery technology; MyAP, an affiliate tracking and management software solution; and Kolimbo, an affiliate network that enables in partnering with merchants in retail, B2B, and niche product categories. The Direct segment provides lead generation services, and develops and sells direct-to-consumer membership programs. This segmenta�s operations include Morex, a life stage, lead generation business that focuses on marketing to expectant mothers and new parents through the Internet at babytobee.com; and Real Estate School Online, Inc. that offers accredited real estate licensing courses, real estate continuing education courses, and real estate exam prep courses online, on CD-ROM, or by correspondence through its ecommerce Web sites. Inuvo markets its products and solutions through marketing materials, advertising, press coverage, direct marketing, trade shows, seminars and conferences, relationships with recognized industry analysts, and partner programs, as well as through ita�s Web site. The company is headquartered in Clearwater, Florida.
Beneficial Mutual Bancorp, Inc. (NASDAQ: BNCL) operates as a holding company for Beneficial Bank that provides consumer and commercial banking services for individuals, businesses, and nonprofit organizations in the United States. The company accepts a range of deposits, such as non-interest bearing demand deposits, including checking accounts; interest-bearing demand accounts, which include NOW and money market accounts; savings accounts; certificates of deposits; and business banking deposit products, such as a commercial checking account and a checking account for small businesses, as well as offers cash management, including remote deposit, lockbox service, and sweep accounts. It originates various loans, including fixed-rate and adjustable-rate one-to-four family residential loans; commercial real estate and home equity loans; commercial business loans to professionals, sole proprietorships, and small businesses, such as installment loans for capital improvements, equipment acquisition, and long-term working capital; and construction loans. The company also offers a range of consumer loans, which comprise home equity loans and lines of credit; automobile loans, including loans for recreational vehicles; student loans; and loans secured by passbook accounts and certificates of deposits, as well as various unsecured lines of credit. In addition, Beneficial Mutual Bancorp, through its subsidiaries, also provides insurance brokerage and investment advisory services. As of December 31, 2008, the company operated through 40 banking offices in Chester, Delaware, Montgomery, Philadelphia, and Bucks Counties in Pennsylvania. It also operated 32 full-service offices in Burlington and Camden Counties, New Jersey. The company was founded in 1853 and is headquartered in Philadelphia, Pennsylvania. Beneficial Mutual Bancorp, Inc. is a subsidiary of Beneficial Savings Bank MHC.
TGC Industries, Inc. (NASDAQ: TGE) engages in the geophysical service business in the continental United States. It provides seismic data acquisition services primarily to domestic onshore oil and natural gas exploration and development companies for use in the onshore drilling and production of oil and natural gas. The company also owns a data bank that contains gravity data and magnetic data, from oil and natural gas producing areas located in the United States. As of December 31, 2008, it operated nine seismic crews, which supplied seismic data to companies engaged in the domestic exploration and development of oil and natural gas on land and in land-to-water transition areas. The company was formerly known as Tidelands Geophysical Co., Inc. and changed its name to TGC Industries, Inc. in July 1986. TGC Industries, Inc. was founded in 1967 and is headquartered in Plano, Texas.
DRDGOLD Limited (NASDAQ: DROOY) operates and explores gold mines in South Africa. Its assets comprise underground mines and surface re-treatment operations. The company was founded in 1895 and is headquartered in Johannesburg, South Africa.
About BUYINS.NET
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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