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BUYINS.NET: Short Sale Recap. Highest % Of Daily Trading Volume Short All Exchanges Combined For Tuesday
Sep 30, 2009 (M2 PRESSWIRE via COMTEX) --
BUYINS.NET, www.buyins.net, has reviewed the NYSE, NASDAQ, BX, CHX and NSX Daily Short Volume Report for Tuesday, September 29th, 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. Southwest Water Co. (NASDAQ: SWWC), SteelCloud (NASDAQ: SCLD), WidePoint (AMEX: WYY), Optimer Pharmaceuticals (NASDAQ: OPTR), GTX Inc. (NASDAQ: GTXI) and PetMed Express (NASDAQ: PETS). To access SqueezeTrigger Prices ahead of potential short squeezes beginning, visit http://www.buyins.net.
Symbol Short Volume Total Volume Percent
SWWC 31,880 61,900 51.50%
SCLD 47,654 95,500 49.90%
WYY 110,500 230,800 47.88%
OPTR 62,951 136,300 46.19%
GTXI 167,452 375,100 44.64%
PETS 82,669 193,500 42.72%
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 exchangesai 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.
SouthWest Water Company (NASDAQ: SWWC), together with its subsidiaries, provides water and wastewater related services principally in the United States. The company offers operations, maintenance, and management services, including water production, treatment, and distribution; wastewater collection and treatment; customer services; and utility infrastructure construction management. It owns water and wastewater utilities located in California, Alabama, Mississippi, and Texas, which primarily serve residential customers. The company also provides facility operations and maintenance, and other water or wastewater related services to cities, public agencies, and private owners in California, Colorado, Alabama, Mississippi, and Georgia. In addition, it provides utility services to various small utilities in Texas that are primarily owned by municipal utility districts. SouthWest Water Company was founded in 1954 and is headquartered in Los Angeles, California.
SteelCloud, Inc. (NASDAQ: SCLD), together with its subsidiaries, designs, manufactures, and integrates embedded integrated computing systems solutions for the federal market prime contractors and independent software vendors. Embedded integrated computing systems are typically purpose built systems that are not visible to the operator and whose primary function is non-office application related. The company also provides information technology consulting and contract staffing solutions for information technology departments. SteelCloud markets its products and services to software companies, federal integrators, select commercial accounts, and state, federal, and local government agencies worldwide, either directly through its own sales personnel, or through marketing organizations. The company was founded in 1987 and is headquartered in Herndon, Virginia.
WidePoint Corporation (AMEX: WYY) provides technology-based products and services to the government sector and commercial markets in the United States. It provides identity management solutions, which include public key infrastructure solutions for the identification and authorization of users and devices, securing of sensitive data, time-stamping and archiving of data, and an auditable process flow. The company also provides mobile telecommunications expense management, identity assurance, and mobile and wireless data protection products and services, as well as systems engineering services that specialize in forensic informatics. In addition, WidePoint Corporation offers a range of information assurance services comprising certification and accreditation, security architecture design, system security planning, security risk assessment and mitigation planning, vulnerability testing and remediation, customizable information assurance plans and processes to correspond to customer needs, and continuity of operations planning. Further, the company provides a range of consulting services and products in the areas of information technology (IT) architecture and planning, including IT strategic planning, software selection, and project management; software implementation comprising application development, application integration, and business intelligence; and IT outsourcing consisting of infrastructure management and applications management. It markets its solutions through direct sales force, as well as alliances with various strategic partnerships in specific industries. The company was founded in 1996 and is based in Oakbrook Terrace, Illinois.
Optimer Pharmaceuticals, Inc. (NASDAQ: OPTR), a biopharmaceutical company, focuses on discovering, developing, and commercializing anti-infective products worldwide. The company develops products that treat gastrointestinal infections and related diseases. Its two late-stage anti-infective product candidates include Fidaxomicin, the lead product candidate and an antibiotic that is in second Phase III registration trial for the treatment of clostridium difficile-infections; and Prulifloxacin, a prodrug in the fluoroquinolone class of antibiotics, which completed second Phase III trials for the treatment of infectious diarrhea in travelers. It also develops OP-1068/CEM-101, an antibiotic for the treatment of upper and lower respiratory tract infections; OPT-88, a disease-modifying intra-articular, or within the cavity of a joint, therapy for osteoarthritis; OPT-822, a carbohydrate-based cancer immunotherapy for the treatment of metastatic breast cancer; and an OPopS drug discovery platform. The company has a collaborative research and development, and license agreement with Cempra Pharmaceuticals, Inc. to discover, develop, and commercialize drugs based on macrolide and ketolide compounds. Optimer Pharmaceuticals was founded in 1998 and is based in San Diego, California.
GTx, Inc. (NASDAQ: GTXI), a biopharmaceutical company, engages in the discovery, development, and commercialization of small molecules to treat cancer, osteoporosis and bone loss, muscle loss, and other serious medical conditions in the United States. It markets FARESTON tablets for the treatment of metastatic breast cancer in postmenopausal women through wholesale drug distributors. The company develops toremifene citrate, a selective estrogen receptor modulator, which completed pivotal Phase III clinical trial for the prevention of bone fractures and treatment of other estrogen deficiency side effects of androgen deprivation therapy in men with prostate cancer; and for the prevention of prostate cancer in high risk men with precancerous prostate lesions called high grade prostatic intraepithelial neoplasia (PIN), which is in pivotal Phase III clinical trial. It also develops Ostarine, which completed Phase II clinical trial for the treatment of cancer cachexia; GTx-758, an oral luteinizing hormone, which is in Phase I clinical trial for the treatment of advanced prostate cancer; and MK-0773, which is in Phase II clinical trial for the treatment of sarcopenia. In addition, GTxais preclinical pipeline includes GTx-878, an estrogen receptor beta agonist. The company has strategic collaboration with Merck & Co., Inc. to discover and develop selective androgen receptor modulators; license and supply agreement with Orion Corporation to develop and commercialize products containing toremifene; and a collaboration and license agreement with Ipsen Group that provides Ipsen Group the rights to develop and commercialize toremifene in the European territory. It also has collaborations with Hybritech, Inc.; MacroArray Technologies, LLC; and Gen-Probe, Incorporated to develop an accurate blood or urine test to detect high grade PIN. The company was founded in 1997 and is headquartered Memphis, Tennessee.
PetMed Express, Inc. (NASDAQ: PETS), doing business as 1-800-PetMeds, markets prescription and non-prescription pet medications; and other health products for dogs, cats, and horses direct to the consumer in the United States. It offers non-prescription medications, such as flea and tick control products, bone and joint care products, vitamins and nutritional supplements, and hygiene products; and prescription medications, including heartworm preventatives, thyroid and arthritis medications, antibiotics, and other specialty medications, as well as generic substitutes. The company markets its products primarily under Frontline Plus, K9 Advantix, Advantage, Heartgard Plus, Sentinel, Interceptor, Program, Revolution, Deramaxx, and Rimadyl brands through television, online, and direct mail/print advertising campaigns. It primarily serves retail customers; and wholesale customers, including pet stores, groomers, and traditional retailers. PetMed Express, Inc. was founded in 1996 and is headquartered in Pompano Beach, Florida.
About BUYINS.NET
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 monthais 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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