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Northwest Pipe (NWPX) Daily Short Sale Trading Volume Through 11-11-09. Over 1.42 Million Shares Shorted in Past 3 Months.

^{Published on 2009-11-12 08:25:13, Last Modified on 2010-12-22 17:32:45 - WOPRAI}
 

November 12, 2009 / M2 PRESSWIRE / BUYINS.NET, www.buyins.net, a leading provider of Regulation SHO compliance monitoring, short sale trading statistics and market integrity surveillance, has reviewed the NYSE, NASDAQ, BX, CHX and NSX Daily Short Volume Report through Wednesday, November 11, 2009 and come to the following statistical conclusions. The chart below shows aggregated daily short volume in Northwest Pipe Co. (NASDAQ: NWPX) for August through November 11th, 2009. Over 1.42 million shares have been shorted since August 3, 2009. NPWX has dropped from $38.21 to $26.55 since September 28, 2009. There has been a $107 million drop in market cap in the past 6 weeks ($11.66 decline on 37.71 million shares outstanding). NWPX management and shareholders should contact tom@buyins.net immediately to discuss solutions to the short selling problem in its shares. For access to real-time, daily and monthly short sale trading statistics along with technologies designed to protect your investments from abusive, manipulative or illegal trading, go to http://www.buyins.net .

Date Short Volume Total Volume Percent

11/11/2009 29,123 72,102 40.39%

11/10/2009 8,134 40,800 19.94%

11/9/2009 14,831 61,200 24.23%

11/6/2009 23,477 87,700 26.77%

11/5/2009 8,304 51,800 16.03%

11/4/2009 17,650 47,700 37.00%

11/3/2009 21,081 102,100 20.65%

11/2/2009 19,996 97,700 20.47%

10/30/2009 12,291 78,700 15.62%

10/29/2009 18,993 59,800 31.76%

10/28/2009 21,764 87,500 24.87%

10/27/2009 25,452 67,600 37.65%

10/26/2009 24,920 68,300 36.49%

10/23/2009 28,792 85,600 33.64%

10/22/2009 23,018 66,900 34.41%

10/21/2009 24,155 106,500 22.68%

10/20/2009 19,597 95,300 20.56%

10/19/2009 11,789 37,400 31.52%

10/16/2009 45,168 93,500 48.31%

10/15/2009 17,224 57,000 30.22%

10/14/2009 15,915 54,200 29.36%

10/13/2009 12,710 46,500 27.33%

10/12/2009 13,300 46,600 28.54%

10/9/2009 10,439 38,500 27.11%

10/8/2009 22,806 65,200 34.98%

10/7/2009 14,792 40,100 36.89%

10/6/2009 31,487 85,900 36.66%

10/5/2009 35,457 106,000 33.45%

10/2/2009 18,123 87,600 20.69%

10/1/2009 25,119 104,400 24.06%

Total 1,424,585 5,504,311 25.88%

* Daily Short Volume chart has been truncated for viewing purposes. Totals include short volumes starting August 3, 2009 and through yesterdays close.

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.

Northwest Pipe Company (NASDAQ: NWPX) manufactures and markets large-diameter, high-pressure steel pipeline systems for use in water infrastructure applications, primarily related to drinking water systems. Its pipeline systems are also used for hydroelectric power systems, wastewater systems, and other applications. The company also manufactures and markets smaller diameter, electric resistance welded steel pipe for use in a range of applications, including construction, agricultural, industrial, energy, and traffic signpost systems. In addition, Northwest Pipe Company manufactures products for various structural piling applications and in-plant pipeline systems for power plants and other industrial applications. The company sells its products through a network of direct sales force personnel, sales agents, and independent distributors in the United States, Canada, and Mexico. Northwest Pipe Company was founded in 1966 and is based in Vancouver, Washington.

BUYINS.NET, www.buyins.net, monitors trading in all US stocks in real time and maintains massive databases of short sale and naked short sale time and sales data, short squeeze SqueezeTrigger prices, market maker price movements, shareholder data, statistical data on earnings, sector correlation, seasonality, hedge fund trading strategies, comparable valuations. Reports include:

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