China Agritech (CAGC) Daily Short Sale Trading Volume Through 10-20-09
October 21, 2009 / M2 PRESSWIRE / BUYINS.NET, www.buyins.net, has reviewed the NYSE, NASDAQ, BX, CHX and NSX Daily Short Volume Report through Tuesday, October 20th, 2009 and come to the following statistical conclusions. The chart below shows aggregated daily short volume in China Agritech (NASDAQ: CAGC) for August through October 20th, 2009. To access SqueezeTrigger Prices ahead of potential short squeezes beginning, visit http://www.buyins.net.
Date Short Volume Total Volume Percent
10/20/2009 54,261 559,638 9.70%
10/19/2009 14,641 231,400 6.33%
10/16/2009 12,154 105,800 11.49%
10/15/2009 12,195 105,600 11.55%
10/14/2009 17,166 198,900 8.63%
10/13/2009 33,047 211,500 15.63%
10/12/2009 43,913 350,400 12.53%
10/9/2009 133,915 798,800 16.76%
10/8/2009 3,117 22,800 13.67%
10/7/2009 3,283 17,500 18.76%
10/6/2009 3,925 29,600 13.26%
10/5/2009 1,315 20,100 6.54%
10/2/2009 14,491 99,500 14.56%
10/1/2009 1,740 37,600 4.63%
9/30/2009 4,328 26,100 16.58%
9/29/2009 4,786 50,600 9.46%
9/28/2009 1,984 43,200 4.59%
9/25/2009 700 13,800 5.07%
9/24/2009 19,312 122,600 15.75%
9/23/2009 14,666 150,700 9.73%
9/22/2009 11,026 139,500 7.90%
9/21/2009 8,211 79,100 10.38%
Total 414,176 3,414,738 12.13%
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 exchanges 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.
China Agritech, Inc. (NASDAQ: CAGC), through its subsidiaries, engages in the manufacture and sale of organic liquid compound fertilizers and related agricultural products in the Peoplea�s Republic of China. Its products include Lvlingbao III fertilizer, which is formulated for fruits and vegetables; Lvlingbao IV fertilizer that is formulated for large scale crops of fruits, vegetables, and grains, as well as for jet spray applications; Tailong I fertilizer line for various crops and plants; and Green Vitality fertilizer products. The company markets and sells its products primarily to farmers. It markets its products directly to end users, as well as through regional distributors. China Agritech, Inc. was founded in 2003 and is based in Beijing, the Peoplea�s Republic of China.
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