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50.27% Of All NASDAQ Trading Wednesday Was Short Selling. OESX, BNVI, DVAX, TBNK, AMCN, BJRI Highest % Of Daily Trading Volume
October 15, 2009 / M2 PRESSWIRE / BUYINS.NET, www.buyins.net, has reviewed the NASDAQ Daily Short Volume Report for Wednesday, October 14th, 2009 and come to the following statistical conclusions. There were 6,838 stocks with daily short volume reported and total NASDAQ trading volume of 1,884,440,575 shares. Total Daily Short Volume was 947,410,475 shares. 50.27% of all trading on the NASDAQ 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. Orion Energy Systems (NASDAQ: OESX), Bionovo (NASDAQ: BNVI), Dynavax Technologies (NASDAQ: DVAX), Territorial Bancorp (NASDAQ: TBNK), AirMedia Group (NASDAQ: AMCN) and BJs Restaurants (NASDAQ: BJRI). To access SqueezeTrigger Prices ahead of potential short squeezes beginning, visit http://www.buyins.net.
DATE SYMBOL SHORT VOLUME TOTAL VOLUME MARKET PERCENT
20091014 OESX 248,763 259,310 Q 95.93%
20091014 BNVI 155,426 181,700 Q 85.54%
20091014 DVAX 94,672 111,547 Q 84.87%
20091014 TBNK 68,700 85,109 Q 80.72%
20091014 AMCN 122,525 152,755 Q 80.21%
20091014 BJRI 209,728 261,502 Q 80.20%
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.
Orion Energy Systems, Inc. (NASDAQ: OESX) engages in the development, manufacture, and sale of lighting and energy management systems, controls, and services. It offers compact modular, a line of high-performance HIF lighting systems, which operates at lower temperatures than HID fixtures and other legacy lighting fixtures in commercial and industrial facilities, as well as includes various fixture configurations and modular power pack. The company also provides intelite wireless control products, which allow customers to remotely communicate with and give commands to individual light fixtures and other peripheral devices through Web-based software; and Apollo solar light pipe, a lens-based device that collects and focuses renewable daylight bringing natural light indoors without consuming electricity. In addition, it offers various HIF fixtures for lighting and energy management needs, including fixtures for agribusinesses, parking lots, roadways, outdoor applications, and private label resale. Further, the company provides comprehensive site assessment, site field verification, utility incentive and government subsidy management, engineering design, project management, recycling in connection with its retrofit installations, and installation services. It sells its products directly to commercial and industrial customers; and indirectly to its customers through electrical contractors and distributors. Orion Energy Systems, Inc. was founded in 1996 and is headquartered in Manitowoc, Wisconsin.
Bionovo, Inc. (NASDAQ: BNVI), a clinical stage drug discovery and development company, focuses on womena�s health and cancer primarily in the United States. Its lead drug candidate, Menerba, is a receptor sub-type selective estrogen receptor modulator for the treatment of vasomotor symptoms of menopause. Bionovo, Inc. also develops BZL101, an oral anti-cancer agent for advanced breast cancer, as well as VG101, a preclinical drug candidate for the treatment of post-menopausal vulvar and vaginal atrophy. The company was founded in 2002 and is based in Emeryville, California.
Dynavax Technologies Corporation (NASDAQ: DVAX), a clinical-stage biopharmaceutical company, discovers and develops a diversified pipeline of Toll-like Receptor (TLR) product candidates primarily in the United States. Based on Dynavaxa�s proprietary technology platform, these products specifically modify the innate immune response to infectious, respiratory, autoimmune, and inflammatory diseases. The companya�s product programs are supported by global partnerships with pharmaceutical companies, such as GlaxoSmithKline, AstraZeneca AB, and Novartis Vaccines and Diagnostics, Inc, as well as funding from Symphony Dynamo, Inc. and the National Institutes of Health (NIH). Its product candidates include HEPLISAV, a Phase 3 clinical stage product for the treatment of hepatitis B vaccine; SD-101, a Phase 1b clinical stage product for the treatment of Hepatitis C infection; and DV-601, a Phase 1b clinical stage product for the treatment of Hepatitis B infection. Dynavax Technologies Corporationa�s preclinical stage products include Universal Flu vaccine for the treatment of influenza prevention, AZD1419 for the treatment of asthma, and DV1079 for the treatment of autoimmune and inflammatory diseases. The company was formerly known as Double Helix Corporation and changed its name to Dynavax Technologies Corporation in September 1996. Dynavax Technologies Corporation was founded in 1996 and is based in Berkeley, California.
Territorial Bancorp, Inc. (NASDAQ: TBNK) intends to operate as the bank holding company for Territorial Savings Bank, which provides financial services to individuals, families, and businesses. Territorial Savings Bank accepts deposits; originates home equity loans and lines of credit, construction, commercial and other non-residential real estate loans, consumer loans, multi-family mortgage loans, and other loans; offers various deposit accounts, including passbook and statement savings accounts, certificates of deposit, money market accounts, commercial and regular checking accounts, and Super NOW accounts; engages in insurance agency activities; and provides various non-deposit investments, such as annuities and mutual funds through a third-party broker-dealer. As of September 30, 2008, it offered 24 banking offices in Hawaii. Territorial Bancorp, Inc. is based in Honolulu, Hawaii.
AirMedia Group Inc. (NASDAQ: AMCN), through its subsidiaries, operates digital media network in China for air travel advertising. It operates digital TV screens that display advertisements in airports and airplanes. The company also displays non-advertising content, such as news, weather, sports, and comedy clips in its digital TV screen programs, as well as displays advertisements on gate bridges, including billboard advertisements on interior walls of gate bridges, and painted advertisements on exterior walls of gate bridges. As of March 1, 2009, the company operated 2,428 digital frames and 2,752 digital TV screens in airports, and places its programs on 49,482 digital TV screens on airplanes. It had contractual concession rights to operate digital TV screens in 51 airports and digital frames in 26 airports. The company also had 2,806 billboard advertisements on 134 gate bridges, as well as painted advertisements on 46 gate bridges. It has strategic partnership with Shanghai Media Group, to provide TV programs to air travelers. The company was founded in 2005 and is headquartered in Beijing, China.
BJs Restaurants, Inc. (NASDAQ: BJRI) owns and operates casual dining restaurants in the United States. The company operates restaurants under the BJa�s Restaurant & Brewery brand name, which includes a brewery within the restaurant; BJa�s Restaurant & Brewhouse that receives the beer it sells from its breweries or an approved third party craft brewer of proprietary recipe beers; and BJa�s Pizza & Grill, which is a smaller format, full service restaurant. As of December 30, 2008, it owned and operated 82 casual dining restaurants located in California, Texas, Arizona, Colorado, Oregon, Nevada, Florida, Ohio, Oklahoma, Kentucky, Indiana, Louisiana, and Washington, as well as licenses 1 restaurant in Lahaina, Maui. The company was founded in 1991 and is based in Huntington Beach, California.
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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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