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52.26% Of All NASDAQ Trading Wednesday Was Short Selling. NRGN, ZION, NPBC, HCSG, CRTP and FRGB Highest % Of Daily Trading Volu

^{Published on 2009-10-21 15:39:45, Last Modified on 2010-12-22 17:18:07 - WOPRAI}
 

October 22, 2009 / M2 PRESSWIRE / BUYINS.NET, www.buyins.net, has reviewed the NASDAQ Daily Short Volume Report for Wednesday, October 21st, 2009 and come to the following statistical conclusions. There were 6,805 stocks with daily short volume reported and total NASDAQ trading volume of 2,094,349,117 shares. Total Daily Short Volume was 1,094,641,985 shares. 52.26% 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. Neurogen Corp (NASDAQ: NRGN), Zions Bancorp (NASDAQ: ZION), National Penn Bancshares (NASDAQ: NPBC), Healthcare Services Group (NASDAQ: HCSG), China Ritar Power Corp (NASDAQ: CRTP) and First Regional Bancorp (NASDAQ: FRGB). To access SqueezeTrigger Prices ahead of potential short squeezes beginning, visit http://www.buyins.net.

DATE SYMBOL SHORT VOLUME TOTAL VOLUME MARKET PERCENT

20091021 NRGN 108,770 111,170 Q 97.84%

20091021 ZION 2,408,945 2,937,486 Q 82.01%

20091021 NPBC 457,544 560,896 Q 81.57%

20091021 HCSG 147,188 180,619 Q 81.49%

20091021 CRTP 102,276 126,538 Q 80.83%

20091021 FRGB 44,796 55,796 Q 80.29%

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.

Neurogen Corporation (NASDAQ: NRGN) engages in the development of new small molecule drugs for psychiatric and neurological disorders. The companya�s clinical development programs include aplindore, which is in Phase II clinical trials for the treatment of Parkinsona�s disease and restless legs syndrome; and MK 2295, a VR1 receptor antagonist that is in preclinical development for the treatment of pain and cough. It has a collaboration and licensing agreement with Merck Sharp & Dohme Limited to research, develop, and commercialize small molecule medicines that work by targeting the VR1 receptor; and a licensing agreement with Wyeth Pharmaceuticals to acquire worldwide rights to aplindore. The company was founded in 1987 and is based in Branford, Connecticut.

Zions Bancorporation (NASDAQ: ZION) operates as a multi bank holding company that provides banking and related products and services. The company offers small and medium-sized business and corporate banking services; commercial and residential development, construction, and term lending services; retail banking services; treasury cash management and related products and services; residential mortgages; and trust and wealth management services. It also provides personal banking services to individuals, including home mortgages, bankcard, other installment loans, home equity lines of credit, checking accounts, savings accounts, time certificates, trust services, safe deposit facilities, and direct deposits. In addition, the company engages in the development and sale of financial technologies and related services, as well as being involved in capital markets and public finance operations. Further, Zions Bancorporation provides U.S. Small Business Administration (SBA) lending services to small businesses; secondary market agricultural real estate mortgage loans; municipal finance advisory and underwriting services; check imaging and clearing software; and Web-based medical claims tracking and cash management services. Additionally, the company offers construction and commercial real estate financing, real estate and consumer lending, depository services, international banking, and community development services. As of December 31, 2008, Zions Bancorporation, through its 8 commercial banks, operated a total of 513 branches in Arizona, California, Colorado, Idaho, Nevada, New Mexico, Oregon, Texas, Utah, and Washington. The company was founded in 1873 and is headquartered in Salt Lake City, Utah.

National Penn Bancshares, Inc. (NASDAQ: NPBC) operates as the holding company for National Penn Bank, which provides a range of financial services to residents and businesses primarily in eastern and central Pennsylvania. It offers various deposit accounts, including demand, NOW, money market, certificates of deposit, and other checking and savings accounts. The company provides consumer loan products, such as installment loans, home equity loans, residential mortgage loans, multi-family loans, educational loans, and credit cards, as well as short-term loans for seasonal and working capital purposes, term loans secured by real estate and other assets, loans for construction and expansion needs, revolving credit plans, leveraged finance or business acquisition financing, interest rate derivatives, and cash management services; and commercial real estate lending, including loans to developers of residential and commercial projects. In addition, it offers automated teller services; safe deposit and night depository facilities; Internet banking services, including online bill paying services; and customer import, export, and general documentary credit, foreign exchange, and international payment services. Further, the company offers trust and asset management, commercial domicile and agency, investment management, investment advisory, and securities brokerage services, as well as insurance services, primarily property and casualty insurance. As of April 29, 2009, it operated 124 community banking offices in Pennsylvania, 1 office in Maryland, and 2 offices in Delaware. The company was founded in 1874 and is headquartered in Boyertown, Pennsylvania.

Healthcare Services Group, Inc. (NASDAQ: HCSG), through its subsidiaries, provides housekeeping, laundry, linen, facility maintenance, and food services to nursing homes, retirement complexes, rehabilitation centers, and hospitals primarily in the United States. It operates in two segments, Housekeeping, Laundry, Linen, and Other services (Housekeeping); and Food Services (Food). The Housekeeping segment offers cleaning, disinfecting, and sanitizing of patient rooms, and areas of clienta�s facility, as well as laundering and processing of the personal clothing belonging to the facilitya�s patients. It also offers laundry and linen services, which include providing, laundering, and processing of the sheets, pillow cases, blankets, towels, uniforms, and assorted linen items used by its clientsa� facilities. In addition, this segment provides maintenance services that consist of repair and maintenance of laundry equipment, plumbing, and electrical systems, as well as carpentry and painting services. The Food Services segment develops a menu to the residentsa� dietary needs, as well as purchases and prepares the food to provide a meal to the residents. It also participates in monitoring the residentsa� ongoing nutritional status, as well as provides consulting services to facilities to assist them in improving their food service operations. As of December 31, 2008, the company provided services to approximately 2,100 facilities in 47 states. Healthcare Services Group was founded in 1976 and is based in Bensalem, Pennsylvania.

China Ritar Power Corp. (NASDAQ: CRTP), through its subsidiaries, designs, develops, manufactures, and sells lead-acid batteries under the Ritar brand in China and internationally. Its products has applications in uninterruptible power source devices; light electric vehicles, including electric bicycles, electric motorcycles, electric scooters, electric three wheelers, and electric golf carts; telecommunications, which comprise wireless, wire line, and Internet access systems, as well as central and local switching systems, satellite stations, and radio transmission stations; electric utilities and energy pipelines; and emergency power systems and alarm systems, as well as electric toys, solar power, and wind power. The company's customers include alternative energy production manufacturers, light electric vehicles manufacturers, international UPS manufacturers, and telecommunications operators. It markets, sells, and services its products through a combination of company-owned offices and independent manufacturersa� representatives. China Ritar Power Corp. was founded in 2002 and is headquartered in Shenzhen, China.

First Regional Bancorp (NASDAQ: FRGB) operates as the bank holding company for First Regional Bank, which provides various banking products and services to businesses and professionals in California. The companya�s deposit product line comprises non-interest bearing demand deposits, savings and NOW accounts, money market accounts, time deposits, and certificates of deposits. Its loan product portfolio includes commercial, real estate, and real estate construction loans; government guaranteed loans; and commercial loans for commercial and industrial borrowers, such as equipment financing, as well as short-term loans. The company also offers telephone transfers, wire transfers, and travelers checks; and credit card deposit and clearing services for retailers and other businesses that accept credit cards. In addition, it provides administrative services for self directed retirement plans, as well as offers trust services for investment agency accounts, IRA rollovers, and various forms of court-related matters. First Regional Bancorp has regional offices located in the California cities of Irvine, Glendale, Santa Monica, Torrance, Encino, Hollywood, Downtown Los Angeles, Anaheim, and Westlake Village. The company was founded in 1979 and is headquartered in Los Angeles, 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.

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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