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S, COF, STX, AXP, CA, STI With Highest Daily Short Volume On NYSE Friday

^{Published on 2009-10-25 14:29:50, Last Modified on 2010-12-22 17:15:48 - WOPRAI}
 

October 26, 2009 / M2 PRESSWIRE / BUYINS.NET, www.buyins.net, has reviewed the NYSE Daily Short Volume Report for Friday, October 23rd, 2009 and come to the following statistical conclusions. There were 6,338 stocks with daily short volume reported and total NYSE trading volume of 1,171,825,111 shares. Total Daily Short Volume was 580,236,115 shares. 49.51% of all trading on the NYSE Friday was short selling. The chart below highlights 6 stocks that had the highest daily short volume on Friday. Sprint Nextel (NYSE: S), Capital One Financial (NYSE: COF), Seagate Technology (NYSE: STX), American Express (NYSE: AXP), CA Inc. (NYSE: CA) and Sun Trust Banks (NYSE: STI). To access SqueezeTrigger Prices ahead of potential short squeezes beginning, visit http://www.buyins.net.

Date Symbol Short Volume Total Volume Market Percent

20091023 S 2,860,678 4,991,935 P 57.31%

20091023 COF 1,593,744 3,270,665 P 48.73%

20091023 STX 1,367,578 2,185,596 P 62.57%

20091023 AXP 1,289,854 2,636,431 P 48.92%

20091023 CA 1,199,646 2,950,322 P 40.66%

20091023 STI 1,176,246 2,186,237 P 53.80%

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.

Sprint Nextel Corporation (NYSE: S) offers wireless and wireline communications products and services to consumers, businesses, and government users in the United States and internationally. Its Wireless segment provides wireless mobile voice and data transmission services on networks that utilize CDMA and iDEN technologies. Its wireless mobile voice communications services include basic local and long distance wireless voice services, voicemail, call waiting, three way calling, caller identification, directory assistance, call forwarding, speakerphone, and voice-activated dialing features, as well as roaming services; and wireless data communications services comprise Internet access and messaging, email services, wireless photo and video offerings, and mobile entertainment applications, as well as asset and fleet management, dispatch services, and navigation tools. This segment also offers walkie-talkie services; and sells accessories, such as carrying cases, hands-free devices, batteries, and battery chargers, as well as handsets and accessories to agents and other third-party distributors for resale. In addition, it provides Sprint-branded post-paid, Boost Mobile-branded prepaid, and wholesale wireless services over the companya�s CDMA network in the United States, Puerto Rico, and the U.S. Virgin Islands; and Nextel-branded post-paid and Boost Mobile-branded prepaid wireless services over the iDEN network. The companya�s Wireline segment provides wireline voice and data communications services, including domestic and international data communications using various protocols, such as multi-protocol label switching, Internet protocol (IP), IP-based frame relay, managed network services, voice over IP, and traditional voice services. It also offers wide-area network and long distance services, as well as operates an all-digital long distance and 40 gigabyte capacity Tier 1 IP network. Sprint Nextel was founded in 1899 and is headquartered in Overland Park, Kansas.

Capital One Financial Corporation (NYSE: COF), through its subsidiaries, provides various financial products and services to consumers, small businesses, and commercial clients in the United States. The company offers commercial and consumer loans, commercial and consumer deposit account services, commercial credit cards, treasury management services, trust services, and other banking related products, such as insurance, brokerage services, merchant services, and investment banking, as well as provides money market and certificate of deposit accounts through Internet channels. It also provides consumer credit and debit card products, small business lending, installment loans, home loans, and other unsecured consumer financial services, as well as involves in financing for the purchase of new and used vehicles or other motor vehicles, and the refinancing for the existing motor vehicle loans. The company was founded in 1993 and is headquartered in McLean, Virginia.

Seagate Technology (NYSE: STX) engages in the design, manufacture, marketing, and sale of hard disk drives for the enterprise, mobile computing, desktop, consumer electronics, and branded solutions market applications of the disk drive industry in North America, the Far East, and Europe. Its products are used in enterprise servers, mainframes and workstations, desktop and notebook computers, and in various devices, such as digital video recorders and other consumer electronic devices that require storage. The company sells its products under the Seagate, Maxtor, Cheetah, Savvio, Barracuda, Momentus, DiamondMax, Pipeline HD, Pipeline Mini, Free Agent, Maxtor OneTouch, and LD25.2 brands. It sells its products primarily to original equipment manufacturers, as well as to distributors and retailers. The company also provides data storage services for small- to medium-sized businesses, including online backup, data protection, and recovery solutions. Seagate Technology was founded in 1979 and is based in Grand Cayman, the Cayman Islands.

American Express Company (NYSE: AXP), a payments and travel company, provides charge and credit payment card products, and travel-related services worldwide. It operates in two groups, the Global Consumer Group and the Global Business-to-Business Group. The Global Consumer Group offers a range of products and services, including charge and credit card products, consumer travel services, and stored value products, such as Travelers Cheques and prepaid products. The Global Business-to-Business Group provides business travel, corporate cards, and other expense management products and services; network services; and merchant acquisition, and merchant processing, point-of-sale, servicing and settlement, and marketing products and services for merchants. The company also publishes luxury lifestyle magazines. American Express sells its products and services to various customer groups, including consumers, small businesses, middle-market companies, large corporations, and banking and financial institutions through various channels, such as direct mail, Internet, employee and independent third party sales forces, and direct response advertising. American Express was founded in 1850 and is headquartered in New York, New York.

CA, Inc. (NYSE: CA), together with its subsidiaries, engages in the design, development, marketing, licensing, and support of information technology (IT) management software products that operate on a range of hardware platforms and operating systems. The company has a portfolio of software products and services that address its customersa� needs for mainframe and distributed environments, spanning IT governance, IT management, and IT security. It focuses on various areas that include infrastructure management, project and portfolio management, security management, service management, application performance management, and data center automation and virtualization. CA, Inc. offers Enterprise IT Management (EITM) software for organizations to manage IT in computing environments, which include people, information, processes, systems, networks, and applications, as well as databases from a Web service to the mainframe to a virtualized cloud, regardless of the hardware or software customers they are using. The company licenses its products principally to IT service providers, financial services companies, governmental agencies, retailers, manufacturers, educational institutions, and healthcare institutions worldwide through direct sales force, as well as indirectly through systems integrators, managed service providers, technology partners, EITM value-added resellers, original equipment manufacturers, and distribution and volume partners. CA, Inc. was founded in 1974 and is headquartered in Islandia, New York.

SunTrust Banks, Inc. (NYSE: STI) operates as the holding company for SunTrust Bank, which provides various financial services to consumer and corporate customers in the United States. The company offers various deposit products, including NOW accounts, money market accounts, savings accounts, consumer time, brokered deposits, and foreign deposits; and loans, such as real estate 1-4 family loans, real estate construction loans, real estate commercial loans, and real estate home equity lines. It provides commercial lending; financial risk management; and treasury and payment solutions, including commercial card services for diversified commercial, commercial real estate, and government/not-for-profit entities. The company also offers various capital markets services, including strategic advice and capital raising; and traditional lending, leasing, and treasury management services. In addition, it provides residential mortgage products through its retail, broker, and correspondent channels; wealth management products and professional services; professional investment management and trust services; discount/online and brokerage services; and family office solutions to high net worth individuals and their families. Further, the company operates as an investment advisor; and offers administration and custody services, endowment and foundation services, and corporate agency services, as well as credit-related insurance, securities brokerage, and capital market services. As of December 31, 2008, it operated 1,692 full-service banking offices. The company was founded in 1891 and is headquartered in Atlanta, Georgia.

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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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