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CSCO, HBAN, PTEN, LJPC, PETM, ADBE With Highest Daily Short Volume On NASDAQ Thursday

^{Published on 2009-10-16 08:05:36, Last Modified on 2010-12-22 17:09:37 - WOPRAI}
 

October 16, 2009 / M2 PRESSWIRE / BUYINS.NET, www.buyins.net, has reviewed the NASDAQ Daily Short Volume Report for Thursday, October 15th, 2009 and come to the following statistical conclusions. There were 6,804 stocks with daily short volume reported and total NASDAQ trading volume of 1,716,261,471 shares. Total Daily Short Volume was 851,481,917 shares. 49.61% of all trading on the NASDAQ Thursday was short selling. The chart below highlights 6 stocks that had the highest daily short volume yesterday. Cisco Systems (NASDAQ: CSCO), Huntington Bancshares (NASDAQ: HBAN), Patterson UTI Energy (NASDAQ: PTEN), La Jolla Pharmaceuticals (NASDAQ: LJPC), Petsmart (NASDAQ: PETM) and Adobe Systems (NASDAQ: ADBE). To access SqueezeTrigger Prices ahead of potential short squeezes beginning, visit http://www.buyins.net.

DATE SYMBOL SHORT VOLUME TOTAL VOLUME MARKET PERCENT

20091015 CSCO 5,050,932 11,196,059 Q 45.11%

20091015 HBAN 3,018,017 5,299,776 Q 56.95%

20091015 PTEN 1,872,916 3,334,955 Q 56.16%

20091015 LJPC 1,751,767 5,148,089 Q 34.03%

20091015 PETM 1,720,626 3,794,426 Q 45.35%

20091015 ADBE 1,613,653 2,629,238 Q 61.37%

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.

Cisco Systems, Inc. (NASDAQ: CSCO) designs, manufactures, and sells Internet Protocol (IP)-based networking and other products relating to the communications and information technology industry worldwide. The company offers routers that interconnect IP networks and moving information between networks; switching systems, which provide connectivity to end users, workstations, and servers; application networking solutions; home networking products, such as voice and data modems, network cards, media adapters, Internet video cameras, network storage, and USB adapters; and Cisco security solutions to protect information systems. It also provides storage area networking products that deliver connectivity between servers and storage systems; unified communication products, which integrate voice, video, data, and mobile applications on fixed and mobile networks; video systems, including digital set-top boxes and digital media technology products; and in-building and outdoor wireless networking products. Further, the company offers optical networking products, cable access, and service provider VoIP services. It provides its products and services through its direct sales force, systems integrators, service providers, resellers, distributors, and retail partners to large enterprises, public institutions, telecommunications companies, commercial businesses, and personal residences. Cisco Systems has strategic alliances with Accenture, Ltd.; AT&T, Inc.; BearingPoint, Inc.; Cap Gemini S.A.; Dell, Inc.; EMC Corporation; Fujitsu Limited; Hewlett-Packard Company; Intel Corporation; International Business Machines Corporation; Italtel SpA; Microsoft Corporation; Nokia; Nokia Siemens Networks; Oracle Corporation; Siemens AG; Sitronics Telecom Solutions, Czech Republic a.s.; Sprint Nextel Corporation; ThruPoint, Inc.; Wipro Limited; and Tata Consultancy Services, as well as a partnership with NASA. The company was founded in 1984 and is headquartered in San Jose, California.

Huntington Bancshares Incorporated (NASDAQ: HBAN) operates as the holding company for The Huntington National Bank that provides commercial and consumer banking services. It offers deposit products, including checking accounts, savings accounts, interest bearing and non-interest bearing demand deposits, time deposits, money market deposits, and brokered deposits and negotiable certificates of deposits. The companya�s lending portfolio comprises home equity loans and lines of credit, first mortgage loans, direct installment loans, small business loans, automobile loans and leases, residential mortgage loans, commercial and industrial loans and leases, and commercial real estate loans. In addition, the company provides retail and commercial insurance agency services; and an array of insurance products, including individual life insurance products, such as basic term-life insurance, estate planning, group life and health insurance, property and casualty insurance, mortgage title insurance, and reinsurance for payment protection products. Further, it offers trust, asset management, investment advisory, brokerage, and private banking products and services; investment banking, sales and trading of securities, mezzanine capital financing, and interest rate risk management products for corporate and institutional customers; and investment management and custodial services. Additionally, Huntington Bancshares provides mortgage banking, equipment leasing, and other financial products and services; and Internet banking and telephone banking services. As of December 31, 2008, the company operated 345 banking offices in Ohio, 115 in Michigan, 57 in Pennsylvania, 51 in Indiana, 28 in West Virginia, and 13 banking offices in Kentucky, as well as 4 private banking offices in Florida, 1 foreign office in the Cayman Islands, and 1 foreign office in Hong Kong. It also operated approximately 1,400 automated teller machines. The company was founded in 1866 and is headquartered in Columbus, Ohio.

Patterson-UTI Energy, Inc. (NASDAQ: PTEN), together with its subsidiaries, provides onshore contract drilling services to independent oil and natural gas operators in North America. It provides pressure pumping services consisting of well stimulation and cementing for completion of new wells and remedial work on existing wells to oil and natural gas operators primarily in the Appalachian Basin. The company also provides drilling fluids, completion fluids, and related services to oil and natural gas operators offshore in the Gulf of Mexico and on land in Texas, New Mexico, Oklahoma, and the Gulf Coast region of Louisiana. In addition, it engages in the development, exploration, acquisition, and production of oil and natural gas assets in Texas, New Mexico, Mississippi, and Louisiana. As of December 31, 2008, the company had a drilling fleet of 344 land-based rigs. Patterson-UTI Energy was founded in 1978 and is headquartered in Houston, Texas.

La Jolla Pharmaceutical Company (NASDAQ: LJPC), a biopharmaceutical company, engages in the discovery and development of orally-active small molecules for the treatment of autoimmune diseases, and acute and chronic inflammatory disorders. The company was founded in 1989 and is based in San Diego, California.

PetSmart, Inc. (NASDAQ: PETM) provides products, services, and solutions for pets in North America. The company offers consumables, including pet food, treats, and litter. It also provides hardgoods comprising collars, leashes, health care supplies, grooming and beauty aids, toys, apparel, beds and carriers, aquariums and habitats, accessories, d�cor, and filters for fishes, birds, reptiles, and small pets under various brand names and private label brands. PetSmart also offers fresh-water tropical fish, birds, reptiles, and small pets. In addition, it provides pet services consisting of grooming, such as precision cuts, baths, toenail trimming and grinding, and toothbrushing; and training, boarding, and day camp. Further, the company operates hospitals that offer boarding for dogs and cats, an on-call veterinarian, temperature controlled rooms and suites, daily specialty treats and play time, and day camp for dogs. Additionally, PetSmart provides veterinary services comprising routine examinations and vaccinations, dental care, a pharmacy, and routine and complex surgical procedures. As of May 3, 2009, it operated 1,137 retail stores and 152 PetsHotels. The company was founded in 1986 and is based in Phoenix, Arizona.

Adobe Systems Incorporated (NASDAQ: ADBE) offers business and mobile software and services worldwide. Its Creative Solutions segment provides software tools for professional publishing, Web design and development, professional photography, video production, animation, and motion graphic production, as well as printing visually rich information. The Knowledge Worker segment offers essential applications and services to help enterprises to share information and collaborate various job functions. The companya�s Enterprise segment provides server-based enterprise interaction solutions that automate people-centric processes. Ita�s Mobile and Device Solutions segment offers solutions that create compelling experiences through content, user interfaces, and data services on mobile and non-PC devices, such as cellular phones, consumer devices, and Internet connected hand-held devices. The Platform segment provides the Adobe Flash Platform that includes client and developer technologies, which enable the development of products and solutions. Its Print and Publishing segment offers various products and services, which address market opportunities ranging from the publishing needs of technical and business publishing to the companya�s OEM printing businesses. The companya�s products and services are used by professionals, designers, knowledge workers, high-end consumers, OEM partners, developers, and enterprises for creating, managing, delivering, and engaging with content and experiences across multiple operating systems, devices, and media. It distributes its products through distributors and dealers, value-added resellers, systems integrators, independent software vendors, and OEMs; and directly to end users, as well as through its Website at adobe.com. The company also licenses its technology to hardware manufacturers, software developers, and service providers. It has a strategic alliance with Brightcove Inc. Adobe Systems was founded in 1982 and is headquartered in San Jose, California.

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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.

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