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Short Sale Recap. Highest % Of Daily Trading Volume Short All Exchanges Combined For Monday
[October 06, 2009]

Short Sale Recap. Highest % Of Daily Trading Volume Short All Exchanges Combined For Monday


(M2 PressWIRE Via Acquire Media NewsEdge) BUYINS.NET, www.buyins.net, has reviewed the NYSE, NASDAQ, BX, CHX and NSX Daily Short Volume Report for Monday, October 5th, 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. GSC Investment Corp (NYSE: GNV), BioSante Pharmaceuticals (NASDAQ: BPAX), Rubicon Technology (NASDAQ: RBCN), Deckers Outdoor (NASDAQ: DECK), Amerigon (NASDAQ: ARGN) and Schnitzer Steel Industries (NASDAQ: SCHN). To access SqueezeTrigger Prices ahead of potential short squeezes beginning, visit http://www.buyins.net.



Symbol Short Volume Total Volume Percent GNV 71,100 83,200 85.46% BPAX 127,696 247,400 51.62% RBCN 71,237 156,600 45.49% DECK 146,708 329,256 44.56% ARGN 66,127 156,585 42.23% SCHN 191,401 454,263 42.13% 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 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.

GSC Investment Corp. (NYSE: GNV) is a public investment firm specializing in buyout, acquisition, growth, recapitalization, and note financing transactions of middle market companies and select high yield bonds. It structures its investments as debt and equity investments primarily by investing in first and second lien loans, mezzanine debt, senior secured bonds, unsecured bonds, and preferred and common equity. The firm typically seeks to invest in companies that have an EBITDA between $5 million and $50 million. GSC Investment Corp. is based in New York, New York with an additional office in Florham Park, New Jersey.

BioSante Pharmaceuticals, Inc. (NASDAQ: BPAX), a biopharmaceutical company, develops products for female sexual health, menopause, contraception, and male hypogonadism. It develops calcium phosphate nanotechnology for aesthetic medicine, novel vaccines, and drug delivery. The companyas products include LibiGel, a transdermal testosterone gel in Phase III development for the treatment of female sexual dysfunction; Elestrin, a transdermal estradiol (estrogen) gel for the treatment of moderate-to-severe vasomotor symptoms associated with menopause; Bio-T-Gel, a transdermal testosterone gel in development for the treatment of hypogonadism, or testosterone deficiency in men; and the Pill-Plus for the treatment of female sexual dysfunction in women using oral or transdermal contraceptives. The companyas CaP products in development comprise BioLook, which is facial line filler in development using proprietary CaP technology in the area of aesthetic medicine; BioVant for the treatment of viral and bacterial infections and autoimmune diseases; BioOral, a delivery system using CaP technology for oral/buccal/intranasal administration of proteins and other therapies; and BioAir, a delivery system using CaP technology for inhalable versions of proteins and other therapies. The company was founded in 1996 and is based in Lincolnshire, Illinois.

Rubicon Technology, Inc. (NASDAQ: RBCN) develops, manufactures, and sells monocrystalline sapphire and other innovative crystalline products for light-emitting diodes, radio frequency integrated circuits, blue laser diodes, optoelectronics, and other optical applications. It fabricates its products from the boules and sells them in various categories, including core, as-cut, as-ground, and polished. It also manufactures sapphire substrates and optical windows, such as two to four inch sapphire wafers for use in LEDs and blue laser diodes for solid state lighting and electronic applications. In addition, Rubicon Technology offers six inch sapphire wafers that are used for Silicon-on-Sapphire RFICs, as well as products for military, aerospace, sensor, and other applications. Further, the company provides optically-polished windows and ground window blanks of sapphire and various fluoride compounds, such as calcium, barium, and magnesium fluoride. It provides its products to wafer polishing companies and semiconductor device manufacturers in Asia, North America, and Europe. The company was incorporated in 2001 and is based in Franklin Park, Illinois.

Deckers Outdoor Corporation (NASDAQ: DECK) engages in the design, production, and brand management of footwear for outdoor activities and casual lifestyle use. It offers casual open-toe and closed-toe footwear, including adventure travel shoes, outdoor multi-sport shoes, trail running shoes, amphibious footwear, light hiking shoes and boots, sheepskin boots and slippers, rugged closed-toe footwear, sneakers, sustainable footwear, and sandals under various styles for men, women, and kids. The company also offers various accessories, including handbags, headwear, packs, and outerwear. It markets its products under the Teva, UGG, Simple, and TSUBO proprietary brand names. The company sells its products primarily to specialty retailers, department stores, outdoor retailers, sporting goods retailers, shoe stores, and online retailers. Deckers Outdoor Corporation sells its products directly to end-user consumers through its Web sites, catalogs, and retail outlet stores, as well as through retailers in the United States, and distributors in the Europe, Canada, Australia, the Asia Pacific, and Latin America. It has joint venture with Stella International Holdings Limited for the opening of retail stores and wholesale distribution for the UGG brand in China. The company was founded in 1973 and is headquartered in Goleta, California.

Amerigon Incorporated (NASDAQ: ARGN) designs, develops, and markets electronic components and systems for sale to car and truck original equipment manufacturers in the United States and internationally. The companyas products are based on thermoelectric device (TED) technologies for heating and cooling applications. Its principal product includes Climate Control Seat, which provides comfort by providing heating and cooling to seat occupants. Amerigon was founded in 1991 and is headquartered in Northville, Michigan.

Schnitzer Steel Industries, Inc. (NASDAQ: SCHN) engages in recycling ferrous and nonferrous metals, and used and salvaged vehicles; and manufacturing finished steel products in the United States and Canada. The company operates through three segments, Metals Recycling Business (MRB), Auto Parts Business (APB), and Steel Manufacturing Business (SMB). The MRB segment involves in the purchase, collection, processing, recycling, sale, trading, and broking of recycled ferrous metals. It processes large pieces of scrap metal into smaller pieces by sorting, shearing, shredding, and torching. This segmentas products include ferrous products, including shredded, sheared, torched and bundled scrap metal, and other purchased scrap metal; and nonferrous scrap metals, including aluminum, copper, stainless steel, nickel, brass, titanium, and high temperature alloys. The APB segment purchases used and salvaged vehicles, and sells used parts from these vehicles through its auto parts stores. As of August 31, 2008, it operated 56 auto parts stores located in the United States and Canada. The SMB segment engages in the purchase of recycled metal and processing of the recycled metal and other raw materials into finished steel products. Its product portfolio comprises rebar, coiled rebar, wire rod, merchant bar, and other specialty products. This segment serves steel service centers, construction industry subcontractors, steel fabricators, wire drawers, and farm and wood product suppliers. Schnitzer Steel Industries was founded in 1946 and is headquartered in Portland, Oregon.

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 monthas 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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