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

^{Published on 2009-11-05 06:46:43, Last Modified on 2010-12-22 17:30:22 - WOPRAI}
 

November 5, 2009 / M2 PRESSWIRE / BUYINS.NET, www.buyins.net, has reviewed the NYSE, NASDAQ, BX, CHX and NSX Daily Short Volume Report for Wednesday, November 4th, 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. Canadian Superior Energy (AMEX: SNG), Resource Connectino (NASDAQ: RECN), Kadant (NYSE: KAI), China Life Insurance Co. (NYSE: LFC), Maxygen (NASDAQ: MAXY) and Actel Corp (NASDAQ: ACTL). To access SqueezeTrigger Prices ahead of potential short squeezes beginning, visit http://www.buyins.net.

Symbol Short Volume Total Volume Percent

SNG 110,400 312,396 35.34%

RECN 71,476 272,367 26.24%

KAI 32,463 127,923 25.38%

LFC 211,041 888,373 23.76%

MAXY 29,552 133,087 22.21%

ACTL 38,357 179,117 21.41%

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.

Canadian Superior Energy Inc. (AMEX: SNG) engages in the exploration for, acquisition, development, and production of petroleum and natural gas, and liquefied natural gas (LNG) projects primarily in western Canada, offshore Nova Scotia, offshore Trinidad and Tobago, the United States, and North Africa. The company was formerly known as Prize Energy Inc. and changed its name to Canadian Superior Energy Inc. in August 2000. Canadian Superior Energy was founded in 1983 and is headquartered in Calgary, Canada. On March 5, 2009, Canadian Superior Energy Inc. filed for Companies' Creditors Arrangement Act with the Court of Queen's Bench of Alberta.

Resources Connection, Inc. (NASDAQ: RECN), a professional services company, provides finance, accounting, risk management and internal audit, information management, human resources, supply chain management, actuarial and legal services in support of client-led projects and initiatives. The company offers finance and accounting services, such as corporate restructurings/reorganizations, financial analyses, budgeting and forecasting, audit preparation, public-entity reporting, tax-related projects, mergers and acquisitions due diligence, initial public offering assistance, and assistance in the preparation or restatement of financial statements; and information management services, including financial system/enterprise resource planning implementation, and post implementation optimization. It also provides risk management and internal audit services comprising compliance reviews, internal audit co-sourcing, and assisting clients with compliance efforts; supply chain management services consisting of strategic sourcing efforts, contracts negotiations, and purchasing strategy; and actuarial services for pension and life insurance companies. In addition, the company offers human capital services, such as change management and compensation, and program design and implementation; and legal and regulatory services, including providing attorneys, paralegals, and contract managers to assist clients with project-based or peak period needs. Further, it provides policyIQ, a Web-based content management product for documenting, managing, and communicating various types of business information, including policies and procedures, Sarbanes documentation, training documentation, and other business content. Resources Connection, Inc. operates in North America, Europe, and the Asia Pacific. The company was founded in 1996 and is headquartered in Irvine, California.

Kadant, Inc. (NYSE: KAI) develops, manufactures, and markets equipment and products for the papermaking and paper recycling industries worldwide. Its principal products include custom-engineered stock-preparation systems and equipment, including recycling and approach flow systems and virgin pulping process equipment for the preparation of wastepaper for conversion into recycled paper; and fluid-handling systems, such as rotary joints, syphons, Turbulator tube bars, and engineered steam and condensate systems used primarily in the dryer section of the papermaking process and during the production of corrugated boxboard, metals, plastics, rubber, textiles, and food. The company also offers paper machine accessory equipment and related consumables, including doctor systems and holders, profiling systems, and doctor blades for the operation of paper machines; and water-management systems that comprises shower and fabric-conditioning systems, formation systems, and water-filtration systems essential for draining, purifying, and recycling process water. In addition, Kadant produces biodegradable absorbent granules from papermaking byproducts for use primarily as carriers for agricultural, home lawn and garden, and professional lawn, turf, and ornamental applications, as well as for oil and grease absorption. It operates primarily in the United States, China, and Europe. The company was formerly known as Thermo Fibertek, Inc. and changed its name to Kadant, Inc. in 2001. Kadant, Inc. was founded in 1991 and is headquartered in Westford, Massachusetts.

China Life Insurance Company Limited (NYSE: LFC) provides various insurance products to individuals and groups in China. The company operates in three segments: Individual Life Insurance, Group Life Insurance, and Accident and Health Insurance. The Individual Life Insurance segment offers participating and non-participating life insurance and annuities to individuals. Its products comprise long-term health and accident insurance products. The Group life insurance segment provides participating and non-participating life insurance and annuities products to companies and institutions. It offers various long-term insurance products. The Accident and Health Insurance segment provides short-term accident insurance and health insurance to individuals and groups. The company distributes its products through its direct sales force, exclusive agent force, and various intermediaries, as well as through bancassurance arrangements. The company was founded in 1949 and is based in Beijing, China. China Life Insurance Company Limited is a subsidiary of China Life Insurance (Group) Company.

Maxygen, Inc. (NASDAQ: MAXY), a biotechnology company, engages in the discovery and development of improved next-generation protein pharmaceuticals for the treatment of disease and serious medical conditions. It primarily uses its MolecularBreeding directed evolution technology platform, along with ancillary technologies, to create proprietary proteins. The companya�s product candidates include MAXY-G34, which completed a Phase IIa clinical trial, is designed to be an improved next-generation pegylated, G-CSF for the treatment of neutropenia associated with cancer chemotherapy treatments; and MAXY-4 products that are designed to be CTLA-4 Ig therapeutics for the treatment of an array of autoimmune disorders, including rheumatoid arthritis. Its earlier stage programs in preclinical research include a preventative HIV vaccine. Maxygen, Inc. has a collaboration agreement with Astellas Pharma, Inc. for the development and commercialization of MAXY-4 product candidates for autoimmune diseases and transplant rejection; and a joint venture agreement to focus on the discovery, research, and development of multiple protein pharmaceutical programs, including MAXY-4 program and other early stage programs. The company was founded in 1996 and is headquartered in Redwood City, California.

Actel Corporation (NASDAQ: ACTL) engages in the design, development, and marketing of flash- and antifuse-based field-programmable gate arrays (FPGAs) for a range of applications in the aerospace, automotive, avionics, communications, consumer, industrial, medical, and military markets. The company also provides a portfolio of nonvolatile antifuse-based FPGAs. Its products include IGLOO FPGAs, which are low-power FPGA solutions for portable and power-sensitive applications; ProASIC3/E FPGAs that are used in power-conscious applications; Actel Fusion mixed-signal FPGAs, which integrate configurable analog, large flash memory blocks, and flash-based programmable logic in a monolithic device; and RTAX-S and RTAX-SL FPGAs, a radiation-tolerant nonvolatile antifuse-based FPGA for space applications. In addition, Actel Corporation offers supporting products and services, including design and development software and tools, IP cores, programming hardware, and starter kits, as well as provides design services, such as FPGA, ASIC, and system design; software development and implementation; and development of prototypes, first articles, and production units. It sells its products directly, as well as through sales and distribution networks, including independent sales representatives, electronics distributors, and value-added resellers worldwide. The company was founded in 1985 and is headquartered in Mountain View, 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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