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47.31% Of All NYSE Trading Thursday Was Short Selling. ELY, KV.A, GLG, SSN, KEY, SKT Highest % Of Daily Trading Volume Short


Published on 2009-10-16 07:17:07, Last Modified on 2010-12-22 17:09:32 - WOPRAI
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October 16, 2009 / M2 PRESSWIRE / BUYINS.NET, www.buyins.net, has reviewed the NYSE Daily Short Volume Report for Thursday, October 15th, 2009 and come to the following statistical conclusions. There were 6,497 stocks with daily short volume reported and total NYSE trading volume of 1,092,167,771 shares. Total Daily Short Volume was 516,736,671 shares. 47.31% 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. Callaway Golf (NYSE: ELY), KV Pharma (NYSE: KV-A), GLG Partners (NYSE: GLG), Samson Oil and Gas (AMEX: SSN), KeyCorp (NYSE: KEY) and Tanger Factory Outlet Centers (NYSE: SKT). To access SqueezeTrigger Prices ahead of potential short squeezes beginning, visit http://www.buyins.net.

Date Symbol Short Volume Total Volume Market Percent

20091015 ELY 199,521 241,848 P 82.50%

20091015 KV.A 76,226 93,385 P 81.63%

20091015 GLG 63,009 78,009 P 80.77%

20091015 SSN 263,320 334,467 P 78.73%

20091015 KEY 2,228,897 2,844,234 P 78.37%

20091015 SKT 45,200 58,200 P 77.66%

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.

Callaway Golf Company (NYSE: ELY), together with its subsidiaries, designs, manufactures, and sells golf clubs and golf balls in the United States and internationally. Its products include drivers, fairway woods, hybrids, irons, wedges, putters, and golf balls. The company also sells golf accessories, such as golf bags, golf gloves, golf footwear, golf and lifestyle apparel, golf headwear, eyewear, golf towels, and golf umbrellas. In addition, Callaway Golf Company licenses its trademarks and service marks in exchange for a royalty fee to third parties for use on products, such as golf and lifestyle apparel, watches, travel gear, rangefinders, and practice aids. It sells its products to golf retailers, including pro shops at golf courses and off-course retailers; sporting goods retailers; and mass merchants, as well as directly and to third party distributors. The company also sells pre-owned golf products through its Web sites, callawaygolfpreowned.com and callawaygolfoutlet.com; and new Callaway Golf products through its Web site, Shop.CallawayGolf.com. Callaway Golf Company was founded in 1982 and is based in Carlsbad, California.

KV Pharmaceutical Company (NYSE: KV-A) is a fully integrated specialty pharmaceutical company that develops, manufactures, markets, and acquires technology-distinguished branded and generic/non-branded prescription pharmaceutical products. The Company markets its technology distinguished products through ETHEX Corporation, a subsidiary that competes with branded products, and Ther-Rx Corporation, the company's branded drug subsidiary.

GLG Partners Inc. (NYSE: GLG) is a publicly owned hedge fund sponsor. The firm provides its services to in high net worth individuals and institutions. It manages separate client-focused equity and fixed income portfolios and investment funds. The firm invests in the public equity and fixed income across the globe. It also invests in alternative markets through options, futures, and convertibles. The firm employs a combination of quantitative, qualitative, and fundamental analysis with tactical trading to make its investments. It employs external research to make its investments. GLG Partners was founded in September 1995 and is based in New York, New York.

Samson Oil & Gas Limited (AMEX: SSN), together with its subsidiaries, engages in the exploration, development, and production of oil and gas properties in the United States. The company owns interests in various projects located in Wyoming, North Dakota, New Mexico, and Texas. Samson Oil & Gas Limited was founded in 1980 and is headquartered in Perth, Australia.

KeyCorp (NYSE: KEY) operates as the holding company for KeyBank National Association that provides various retail and commercial banking services to individual, corporate, and institutional clients in the United States. The company offers various deposit and loan products. Its deposit product portfolio includes NOW accounts, money market deposit accounts, savings deposits, certificates of deposit, and time deposits. The companya�s loan product line comprises commercial, financial, and agricultural loans; commercial real estate loans, including commercial mortgage and construction loans; residential real estate loans; and consumer loans. It also offers personal and corporate trust services, personal financial services, access to mutual funds, cash management services, investment banking and capital markets products, international banking services, and investment management services. In addition, the company provides accident, health, and credit-life insurance services; community development financing; securities underwriting and brokerage; and merchant services. As of December 31, 2008, it operated 986 full-service retail banking branches in 14 states and a network of 1,478 automated teller machines in 16 states. The company was founded in 1849 and is headquartered in Cleveland, Ohio.

Tanger Factory Outlet Centers, Inc. (NYSE: SKT) operates as a real estate investment trust (REIT). The company, through its subsidiary, Tanger Properties Limited Partnership, engages in acquiring, developing, owning, operating, and managing factory outlet shopping centers. As of September 30, 2005, Tanger owned and operated 33 factory outlet centers in 22 states totaling 8.7 million square feet of gross leasable area. It also provides development, leasing, and management services for its outlet centers. The company has elected to be taxed as a REIT under the Internal Revenue Code. As a REIT, it would not be subject to Federal income taxes provided it distributes at least 90% of its taxable income to its shareholders. Tanger Factory Outlet Centers was founded by Stanley K. Tanger in 1981. The company is headquartered in Greensboro, North Carolina.

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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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