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Short Sale Recap. Highest % Of Daily Trading Volume Short All Exchanges Combined For Tuesday

^{Published on 2009-10-28 10:09:17, Last Modified on 2010-12-22 17:25:13 - WOPRAI}
 

October 28, 2009 / M2 PRESSWIRE / BUYINS.NET, www.buyins.net, has reviewed the NYSE, NASDAQ, BX, CHX and NSX Daily Short Volume Report for Tuesday, October 27th, 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), Veraz Networks (NASDAQ: VRAZ), Patriot Capital Funding (NASDAQ: PCAP), Red Robin Gourmet Burgers (NASDAQ: RRGB), Microtune (NASDAQ: TUNE) and Avid Technology (NASDAQ: AVID). To access SqueezeTrigger Prices ahead of potential short squeezes beginning, visit http://www.buyins.net.

Symbol Short Volume Total Volume Percent

SNR 194,950 199,050 97.94%

VRAZ 97,900 130,500 75.02%

PCAP 136,540 217,114 62.89%

RRGB 140,909 278,702 50.56%

TUNE 221,865 443,862 49.99%

AVID 153,218 313,825 48.82%

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'a" 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.

Veraz Networks, Inc. (NASDAQ: VRAZ) provides voice infrastructure solutions for wireline and wireless service providers. It offers bandwidth optimization products, including I-Gate 4000 family of media gateways and session bandwidth optimizers, and DTX family of digital circuit multiplication equipment; and switching products, such as ControlSwitch product family based on the Internet protocol multimedia subsystem, network-adaptive border controller products, and session border controllers. The company also provides hardware and software maintenance and support, installation, training, and other professional services. Its products enable service providers to transport, convert, and manage data and voice traffic over time-division multiplexing and IP networks. Veraz Networks sells its products through direct sales force, as well as through indirect sales channels. The company was founded in 2001 and is headquartered in San Jose, California.

Patriot Capital Funding, Inc. (NASDAQ: PCAP) is a private equity firm specializing in investments in small and mid sized companies. The firm typically finances privately held companies in transaction initiated by sponsors of private equity funds with assets less than $250 million. It prefers to invest in manufacturing, distribution, and service sectors. The firm invests in companies based in United States with minimum EBITDA of $2 million, minimum financing need of $3 million, and revenues between $10 million and $100 million. For debt investments, it seeks to invest between $3 million and $20 million and it prefers to invest up to $2 million in equity co-investments. The firm invests in the form of revolving loans, acquisition lines of credit, senior secured term loans, junior secured term loans, delayed draw term loans, subordinated loans, and equity co-investments. Patriot Capital Funding, Inc. was founded in November 2002 and The Compass Group and is based in Westport, Connecticut.

Red Robin Gourmet Burgers, Inc. (NASDAQ: RRGB), together with its subsidiaries, develops, operates, and franchises casual dining restaurants that serve gourmet burgers in the United States and Canada. As of December 28, 2008, the company operated 423 restaurants, of which 294 were company-owned, and 129 were operated under franchise agreements, including 1 restaurant that was managed by the company under a management agreement with the franchisee in 40 states and 2 Canadian provinces. The company was founded in 1969 and is headquartered in Greenwood Village, Colorado.

Microtone, Inc. (NASDAQ: TUNE) engages in the design and marketing of radio frequency (RF) integrated circuits and subsystem module solutions for the cable, automotive entertainment electronics, and digital television markets. The company offers microtuner single-chip broadband tuners; and silicon amplifiers, including upstream amplifiers, intermediate frequency amplifiers, and broadband antenna amplifiers. It also provides subsystem-level RF solutions, including tuner and/or transmit/receive functions for various applications, such as analog and digital car radio, analog and digital in-car television, in-flight entertainment, antenna amplifiers, and cable system headend upconverters. In addition, the company offers automotive electronics products, including components for traditional AM/FM radios, as well as components for entertainment applications, such as in-car television, in-flight video, digital radio, and HD radio. Microtone serves original equipment manufacturers and original design manufacturers. It has operations in the Asia Pacific, North America, and Europe. The company was founded in 1996 and is headquartered in Plano, Texas.

Avid Technology, Inc. (NASDAQ: AVID) develops, markets, sells, and supports software and hardware products for the production, management, and distribution of digital media content worldwide. The companya�s Professional Video segment offers digital, nonlinear software and hardware video-editing solutions to edit television programs, commercials, and films; newsroom on-air graphics, ingest, play-to-air, and automation device control solutions; 3D animation products; video storage and workflow solutions, which include a production asset management solution to enable collaboration and workflow automation; and software and application support, installation, integration, planning, consulting, and training services. Its Consumer Video segment provides a consumer video-editing solution for consumers and entry-level videographers to create professional-looking videos; and TV-over-PC viewing solutions to view television programming on a personal computer. The companya�s Audio segment provides digital audio software and workstation solutions for the audio production process; integrated console systems, expandable hardware control surfaces, and audio interfaces; and live sound solutions, such as products for mixing audio for live sound reinforcement, and keyboards/controllers and digital pianos for musicians. This segment also offers desktop and studio monitors, such as speakers for use with desktop computer systems and in studios; software to electronically create, edit, and publish musical scores; and a computer-based disc jockey performance software package. It serves the education industry, artists, post production facilities, broadcasters and media conglomerates, and established professionals, as well as music, film, or video enthusiasts. The company markets and sells its solutions through independent distributors, value-added resellers, dealers, retailers, and e-commerce sales programs. Avid Technology, Inc. was founded in 1987 and is headquartered in Tewksbury, Massachusetts.

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'a"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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