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GE, WFC, PG, GT, LSI, ELN With Highest Daily Short Volume On NYSE Monday

^{Published on 2009-10-29 16:00:28, Last Modified on 2010-12-22 17:23:26 - WOPRAI}
 

October 30, 2009 / M2 PRESSWIRE / BUYINS.NET, www.buyins.net, has reviewed the NYSE Daily Short Volume Report for Thursday, October 29th, 2009 and come to the following statistical conclusions. There were 6,528 stocks with daily short volume reported and total NYSE trading volume of 1,356,376,268 shares. Total Daily Short Volume was 642,912,663 shares. 47.4% of all trading on the NYSE Thursday was short selling. The chart below highlights 6 stocks that had the highest daily short volume on Monday. General Electric (NYSE: GE), Wells Fargo (NYSE: WFC), Procter and Gamble (NYSE: PG), Goodyear Tire and Rubber (NYSE: GT), LSI Corp (NYSE: LSI) and Elan (NYSE: ELN). To access SqueezeTrigger Prices ahead of potential short squeezes beginning, visit http://www.buyins.net.

Date Symbol Short Volume Total Volume Market Percent

20091029 GE 3,928,302 7,784,088 P 50.47%

20091029 WFC 3,665,604 5,817,481 P 63.01%

20091029 PG 2,202,550 4,048,297 P 54.41%

20091029 GT 2,161,807 4,523,128 P 47.79%

20091029 LSI 1,616,460 2,729,874 P 59.21%

20091029 ELN 1,520,106 2,452,015 P 61.99%

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.

General Electric Company (NYSE: GE) operates as a technology, media, and financial services company worldwide. Its Energy Infrastructure segment produces gas, steam, and aeroderivative turbines; generators; and combined cycle systems, as well as provides water treatment services and equipment. This segment also sells surface and subsea drilling and production systems, floating production platform equipment, compressors, turbines, turboexpanders, and high pressure reactors to national, international, and independent oil and gas companies; and offers equipment overhauls and upgrades, pipeline inspection and integrity services, remote diagnostic and monitoring, and contractual service agreements. The companya�s Technology Infrastructure segment manufactures jet engines, aerospace systems and equipment, and its replacement parts, as well as provides repair and maintenance services for commercial aircraft; military aircraft, including fighters, bombers, tankers, and helicopters; marine applications; and executive and regional aircraft. This segment also produces healthcare products, including diagnostic imaging systems; offers transportation products and maintenance services; provides enterprise solutions using sensors for temperature, pressure, moisture, gas and flow rate, as well as non-destructive testing inspection equipment. GEa�s NBC Universal segment engages in the production and distribution of films and television programs; operation of television stations and cable/satellite television networks, as well as theme parks. The companya�s Capital Finance segment offers loans, leases, and other financial services to customers, including manufacturers, distributors, and end-users of equipment and major capital assets. Its Consumer & Industrial segment produces various house hold appliances, lighting products, and electrical equipment and control products, as well as provides related services. The company was founded in 1892 and is based in Fairfield, Connecticut.

Wells Fargo & Company (NYSE: WFC), through its subsidiaries, provides retail, commercial, and corporate banking services principally in the United States. The company operates through three segments: Community Banking, Wholesale Banking, and Wells Fargo Financial. The Community Banking segment offers deposit products, including checking accounts, savings deposits, market rate accounts, individual retirement accounts, time deposits, and debit cards. Its loan products include lines of credit, equity lines and loans, equipment and transportation loans, education loans, residential mortgage loans, and credit cards. This segment also provides receivables and inventory financing, equipment leases, real estate financing, small business administration financing, venture capital financing, cash management, payroll services, retirement plans, and merchant payment processing services. The Wholesale Banking segment provides commercial and corporate banking products and services, including commercial loans and lines of credit, letters of credit, asset-based lending, equipment leasing, mezzanine financing, high-yield debt, foreign exchange services, treasury management, investment management, institutional fixed-income sales, commodity and equity risk management, insurance, corporate trust fiduciary and agency services, and investment banking services. This segment also provides banking products for commercial real estate market. The Wells Fargo Financial segment engages in consumer finance and auto finance operations. Consumer finance operations make direct consumer and real estate loans to individuals and purchase sales finance contracts from retail merchants; and finance operations engage in making loans secured by autos. This segment also offers credit cards, as well as lease and other commercial financing products. As of December 31, 2008, Wells Fargo & Company provided its services through 11,000 stores. The company was founded in 1929 and is headquartered in San Francisco, California.

The Procter & Gamble Company (NYSE: PG) engages in the manufacture and sale of consumer goods worldwide. The company operates in three global business units (GBUs): Beauty, Health and Well-Being, and Household Care. The Beauty GBU offers cosmetics, deodorants, fragrances, hair care products, and personal cleansing and skin care products under the Head & Shoulders, Olay, Pantene, and Wella brands; and blades and razors, electric hair removal devices, face and shave products, and home appliances under the Braun, Fusion, Gillette, and Mach3 brands. The Health and Well-Being GBU provides feminine care, oral care, and personal health care products, as well as pharmaceuticals under the Actonel, Always, Crest, and Oral-B brands; and pet food and snacks under the Iams and Pringles brands. The Household Care GBU offers air care products, batteries, dish care products, and fabric care and surface care products under the Ariel, Dawn, Downy, Duracell, Gain, and Tide brands; and baby wipes, bath tissues, diapers, facial tissues, and paper towels under the Bounty, Charmin, and Pampers brands. The company offers its products to mass merchandisers, grocery stores, membership club stores, and drug stores. The Procter & Gamble Company was founded in 1837 and is headquartered in Cincinnati, Ohio.

The Goodyear Tire & Rubber Company (NYSE: GT) engages in the development, manufacture, distribution, and sale of tires and related products and services worldwide. It manufactures rubber tires for automobiles, trucks, buses, aviation, motorcycles, farm implements, earthmoving and mining equipment, industrial equipment, and various other applications. The company offers tires under aGoodyeara�, aDunlopa�, aKellya�, aFuldaa�, aDebicaa�, aSavaa�, and various other Goodyear owned house brands, as well as under private-label brands. It also retreads truck, aviation, and off-the-road tires; manufactures and sells tread rubber and other tire retreading materials; provides automotive repair services and miscellaneous other products and services; and manufactures and sells flaps for truck tires and other types of tires. As of December 31, 2008, the company operated approximately 1,600 tire and auto service center outlets, where it offers its products for retail sale and provides automotive repair and other services. The Goodyear Tire & Rubber Company was founded in 1898 and is based in Akron, Ohio.

LSI Corporation (NYSE: LSI) engages in the design, development, and marketing of semiconductors and storage systems. Its Semiconductor segment offers integrated circuits for hard disk and tape drive solutions, including systems-on-a-chip, read channels, pre-amplifiers, serial physical interfaces, and hard disk controllers, as well as custom firmware; and magnetic and optical disk drives, and disk and tape-based storage systems. This segmenta�s hard disk and tape drive electronics are used to store and retrieve data in personal computers, corporate network servers, archive/back-up devices, and consumer electronics products, such as digital video recorders, game consoles, and digital media players. It also offers networking solutions that include chips, such as network processors, digital signal processors, content-inspection processors, traffic shaping devices, and physical layer devices, as well as software, evaluation systems, and reference designs to homes, businesses, and mobile users over Internet protocol networks. The Storage Systems segment provides a line of open, modular storage products that comprises complete systems and sub-assemblies, such as storage controller modules, disk drive enclosure modules, related management software, and data protection software for creating local and remote copies of critical data. Its products and solutions are used in various open operating systems, such as Windows, UNIX and UNIX variants, and Linux environments. This segmenta�s products serve Internet-based applications, such as online transaction processing and e-commerce, data warehousing, video editing and post-production, and computing. The company has operations in the United States, Europe, the Middle East, Africa, and Asia. LSI Corporation serves original equipment manufacturers through a network of direct sales and marketing, and field engineering offices. The company, formerly known as LSI Logic Corporation, was founded in 1980 and is headquartered in Milpitas, California.

Elan Corporation, plc (NYSE: ELN) operates as a neuroscience-based biotechnology company primarily in Ireland and the United States. It operates in two segments, Biopharmaceuticals and Elan Drug Technologies (EDT). The Biopharmaceuticals segment engages in the research, development, and commercial activities primarily in Alzheimera�s disease, Parkinsona�s disease, multiple sclerosis, Crohna�s disease, severe chronic pain, and infectious diseases. It offers Tysabri, an alpha 4 integrin antagonist for the treatment of relapsing forms of multiple sclerosis; Prialt for the management of severe chronic pain; Maxipime, an injectable cephalosporin antibiotic to treat serious and/or life-threatening infections; and Azactam, an injectable antibiotic to treat pneumonia, post-surgical infections, and septicemia. This segment, through collaboration with Biogen Idec, Inc., develops and markets Tysabri as a treatment for Crohna�s disease. It also develops ELND005, a small molecule therapeutic that acts by breaking down and preventing the aggregation of beta amlyoid fibrils in collaboration with Transition Therapeutics, Inc. In addition, Biopharmaceuticals segment, through collaboration with Wyeth, develops beta amyloid immunotherapies, including AAB-001 and ACC-001, which are in various stages of development for the treatment of Alzheimera�s disease. The EDT segment engages in the development and manufacture of drug optimization technologies. It also offers a range of services, which include formulation development, clinical trial management, analytical development, clinical trial material manufacturing, scale-up, product registration support, and supply chain management for client products. Elan Corporation sells its products primarily to drug wholesalers worldwide. It has a development agreement with Circ Pharma Limited to develop a chronotherapeutic formulation of Tramadol for the treatment of severe pain. The company was founded in 1969 and is headquartered in Dublin, Ireland.

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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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