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50.89% Of All NASDAQ Trading Thursday Was Short Selling. DSTI, TRIB, DAKT, LOOP, GSAT, PRSC Highest % Of Daily Trading Volume

^{Published on 2009-10-22 16:54:02, Last Modified on 2010-12-22 17:17:09 - WOPRAI}
 

October 23, 2009 / M2 PRESSWIRE / BUYINS.NET, www.buyins.net, has reviewed the NASDAQ Daily Short Volume Report for Thursday, October 22nd, 2009 and come to the following statistical conclusions. There were 6,776 stocks with daily short volume reported and total NASDAQ trading volume of 1,936,012,130 shares. Total Daily Short Volume was 985,297,805 shares. 50.89% of all trading on the NASDAQ Thursday was short selling. The chart below highlights 6 stocks that had unusually high percentages of their total daily trading volume attributed to short sales. DayStar Technologies (NASDAQ: DSTI), Trinity Biotech (NASDAQ: TRIB), Daktronics (NASDAQ: DAKT), LoopNet (NASDAQ: LOOP), Globalstar (NASDAQ: GSAT) and Providence Service Corp (NASDAQ: PRSC). To access SqueezeTrigger Prices ahead of potential short squeezes beginning, visit http://www.buyins.net.

DATE SYMBOL SHORT VOLUME TOTAL VOLUME MARKET PERCENT

20091022 DSTI 94,565 103,547 Q 91.33%

20091022 TRIB 44,500 50,800 Q 87.60%

20091022 DAKT 176,386 202,630 Q 87.05%

20091022 LOOP 251,163 290,894 Q 86.34%

20091022 GSAT 186,294 218,463 Q 85.27%

20091022 PRSC 42,352 50,102 Q 84.53%

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.

DayStar Technologies, Inc. (NASDAQ: DSTI), a development stage company, develops, manufactures, and markets products for the solar photovoltaic industry to convert sunlight into electricity. It offers thin-film copper indium gallium selenide solar products for grid-tied centralized utility markets; and grid-tied decentralized commercial and residential markets. The company was founded in 1997 and is headquartered in Santa Clara, California.

Trinity Biotech plc (NASDAQ: TRIB) develops, acquires, manufactures, distributes, and sells diagnostic test kits and instrumentation worldwide. The company offers clinical laboratory products, including diagnostic tests and instrumentation, which detect infectious diseases, sexually transmitted diseases, blood coagulation, and autoimmune disorders. It also sells raw materials to the life sciences industry. In addition, the company offers point of care diagnostic tests, which are carried out in the presence of the patient, principally to diagnose the presence of HIV antibodies in the patient. Its customers include hospitals, clinical laboratories, commercial reference laboratories, and research institutions. The company sells its products through distributor partners, as well as directly in the United States, the United Kingdom, France, and Germany. Trinity Biotech plc was founded in 1992 and is headquartered in Bray, Ireland.

Daktronics, Inc. (NASDAQ: DAKT), through its subsidiaries, engages in the design, manufacture, marketing, and support of electronic display systems, as well as related products, maintenance, and professional services worldwide. The companya�s products include sports products, such as indoor and outdoor scoreboards, timing systems, digit displays, sound systems, statistics software, and other related products; and automated rigging and hoist products comprising automated rigging systems, which complement arena center-hung scoreboard/display systems for small and large sporting facilities. It also offers video products consisting of displays, such as a number of pixels capable of creating various levels of video, graphics, and animation, as well as controllers that manage the operation of the display; commercial products, which include various indoor and outdoor applications primarily as graphics and text-based displays; and transportation products, including a range of LED-based display products for road management, parking, mass transit, and aviation applications. In addition, Daktronics provides software products, including Venus 1500 control software that allows the creation, display, and scheduling of dynamic text and basic graphics content on electronic displays; Venus 7000 display control system, which controls multi-color displays and video displays; and Visiconn control software that is used to display targeted messages to specific audiences and to control large networks of digital displays. Further, it engages in the rental of its display equipment. Daktronics distributes its products through a combination of direct sales personnel and resellers. The company was founded in 1968 and is based in Brookings, South Dakota.

LoopNet, Inc. (NASDAQ: LOOP) operates an online marketplace for commercial real estate in the United States. The companya�s online marketplace, LoopNet.com enables commercial real estate agents working on behalf of property owners and landlords to list properties for sale or for lease by submitting detailed property listing information, including descriptions, financial and tenant information, photographs, and property characteristics in order to find a buyer or tenant. As of December 31, 2008, the LoopNet online marketplace contained approximately 652,000 listings. It also operates BizBuySell, an online marketplace for operating businesses for sale, which contained approximately 49,000 listings of operating businesses for sale. In addition, the company provides LoopLink, an online real estate marketing and database services suite to commercial real estate firms that enables them to showcase their available properties both on the LoopNet marketplace and on the brokerage firma�s own Web site using the companya�s hosted search software. Further, it provides RecentSales, a nationwide database of recent commercial real estate transactions collected from sales initiated through its online marketplace and from third party information providers, as well as operates LandAndFarm.com. The company was formerly known as Loop Ventures, Inc. and changed its name to LoopNet, Inc. in November 1998. LoopNet was incorporated in 1997 and is headquartered in San Francisco, California.

Globalstar, Inc. (NASDAQ: GSAT), together with its subsidiaries, provides mobile voice and data communications services through satellite. It offers mobile voice and data satellite communications; personal asset tracking and remote monitoring; fixed voice and data satellite communications; and satellite data modem services, as well as other services, including the installation of gateways and antennas. The company also provides voice and data products, including mobile and fixed satellite telephones, and simplex and duplex satellite voice and data modems; SPOT satellite messenger products; and telephone accessories, such as car kits and chargers. It serves oil and gas, government, mining, forestry, commercial fishing, utilities, military, public safety and disaster relief, maritime, transportation, telecommunications, heavy construction, emergency preparedness, and business continuity industries in the United States and internationally, as well as individual and commercial recreational users. Globalstar, Inc. sells its products and services through various retail and wholesale channels, such as dealers, resellers, distribution managers, independent gateway operators, and direct sales, as well as online. As of December 31, 2008, the company had 48 in-orbit satellites and 26 ground stations/gateways. Globalstar, Inc. was founded in 2003 and is headquartered in Milpitas, California.

The Providence Service Corporation (NASDAQ: PRSC) provides and manages government sponsored social services to individuals and families in the United States both directly, as well as through not-for-profit social services organizations. The companya�s direct services include home based and intensive home based counseling, substance abuse treatment, school-based counseling and tutoring, misdemeanant private probation supervision, workforce development, foster care, and therapeutic foster care. Its not-for-profit managed services include administrative support, information technology, accounting and payroll services, monitoring, and case management, as well as intake, assessment, and referral services. It also offers non-emergency transportation management services to Medicaid and Medicare recipients, members of the disability community, and senior citizens in the United States and the District of Columbia. The company was founded in 1996 and is based in Tucson, Arizona.

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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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