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BUYINS.NET: GNK, AVID, CMED, IDEV, NCOC, PPCO Have Been Removed From Naked Short List Today

Mon. July 07, 2008; Posted: 03:47 AM
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Jul 07, 2008 (M2 PRESSWIRE via COMTEX) -- PPCO | Quote | Chart | News | PowerRating -- BUYINS.NET, www.buyins.net, announced today that these select companies have been removed from the NASDAQ, AMEX and NYSE naked short threshold list: Genco Shipping & Trading Ltd. (NYSE: GNK), Avid Technology Inc. (NASDAQ: AVID), China Medical Technologies, Inc. (NASDAQ: CMED), Indevus Pharmaceuticals Inc. (NASDAQ: IDEV), National Coal Corp. (NASDAQ: NCOC), Penwest Pharmaceuticals Co. (NASDAQ: PPCO). For a complete list of companies on the naked short list please visit our web site. To find the SqueezeTrigger Price before a short squeeze starts in any stock, go to www.buyins.net.

Genco Shipping & Trading Ltd. (NYSE: GNK | Quote | Chart | News | PowerRating) engages in the ocean transportation of drybulk cargoes worldwide through the ownership and operation of drybulk carrier vessels. It transports iron ore, coal, grain, steel products, and other drybulk cargoes. The company principally charters its vessels to trading houses, including commodities traders; producers; and government-owned entities. As of December 31, 2007, Genco Shipping owned a fleet of 28 drybulk carriers consisting of 5 Capesize, 6 Panamax, 3 Supramax, 6 Handymax, and 8 Handysize drybulk carriers, with an aggregate carrying capacity of approximately 2,020,000 deadweight tons. The company was founded in 2004 and is based in New York, New York. With 29.08 million shares outstanding and 3.46 million shares declared short as of May 2008, there is no longer a failure to deliver in shares of GNK. According to quarterly data provided by the SEC, there were still 19,511 shares of GNK that were failing-to-deliver as of September 26, 2007.

Avid Technology Inc. (NASDAQ: AVID | Quote | Chart | News | PowerRating) develops, markets, sells, and supports software and hardware products for the production, management, and distribution of digital media content. It operates in three segments: Professional Video, Audio, and Consumer Video. The Professional Video segment offers solutions, including video and film editing systems, integrated storage, workflow and asset management tools, 3D and special-effects software, as well as a range of services from product support and training to consultancy and managed services. This segment markets these solutions to professional users, broadcast and cable companies, corporations, governmental entities, and educational institutions under the Avid Video, Softimage, and Sundance Digital names. The Audio segment produces digital audio systems for audio recording, editing, signal processing, mixing, post production, collaborating, distributing, and scoring to professional music studios, project studios, film and television production and post production facilities, television and radio broadcasters, production studios, performance venues, corporations, governmental entities, and educational institutions under the Digidesign, M-Audio, and Sibelius names. The Consumer Video segment develops and markets video editing and digital lifestyle products that enables creating, editing, sharing, publishing, and viewing media content using a personal computer to the home video editors, corporate institutions, and government and educational institutions under the Pinnacle name. Avid Technology markets its products through direct and indirect sales channels, including a network of independent distributors, value-added resellers, and dealers, as well as serves its customers and markets directly. The company was founded in 1987 and is headquartered in Tewksbury, Massachusetts. With 37.01 million shares outstanding and 8.11 million shares declared short as of May 2008, there is no longer a failure to deliver in shares of AVID. According to quarterly data provided by the SEC, there were still 29,847 shares of AVID that were failing-to-deliver as of September 28, 2007.

China Medical Technologies, Inc. (NASDAQ: CMED | Quote | Chart | News | PowerRating) a medical device company, engages in the development, manufacture, commercialization, and sale of medical devices and supplies in the People's Republic of China. It offers in-vitro diagnostics products, which utilize enhanced chemiluminescence immunoassay technology (ECLIA), MAIA technology, and FISH technology to detect and monitor various diseases and disorders through laboratory evaluation and analysis of blood, urine, or other body fluids and system. The company offers ECLIA system, which includes ECLIA analyzer for detecting minute levels of light triggered by combining reagents with body fluid samples to produce diagnostic results; reagent kits for detecting and monitoring various types of diseases and disorders, including thyroid disorders, diabetes, hepatitis, SARS, Down syndrome, liver fibrosis, disorders related to reproduction and growth, and various types of tumors; and data analysis system for analyzing and organizing the information produced from diagnostic results. It also provides FISH imaging analysis system and probes used for prenatal and cancer management. The FISH probes are used for the detection and monitoring the course of bladder cancer; the treatment of breast cancer; prediction and diagnosis of cervical cancer; diagnosis and prognosis of various leukemias and multiple myeloma; detecting Trisomy 21, Trisomy 18, Trisomy 13, Turner syndrome, Trisomy X, XYY syndrome, DiGeorge syndrome, and triploidy; and diagnosis of prostate cancer. In addition, it offers HIFU therapy system, which is used as a treatment method with surgery, radiotherapy, and chemotherapy for the treatment of various types of solid tumors. It sells its products through distributors. The company was founded in 1999 and is based in Beijing, the People's Republic of China. With 27.4 million shares outstanding and 1.54 million shares declared short as of May 2008, there is no longer a failure to deliver in shares of CMED. According to quarterly data provided by the SEC, there were still 48,693 shares of CMED that were failing-to-deliver as of September 28, 2007.

Indevus Pharmaceuticals Inc. (NASDAQ: IDEV | Quote | Chart | News | PowerRating) a specialty pharmaceutical company, engages in the acquisition, development, and commercialization of products to treat conditions in urology and endocrinology in the United States. The company's approved products consist of SANCTURA, a muscarinic receptor antagonist, and SANCTURA XR for the treatment of overactive bladder that are co-promoted with its partner Allergan, Inc.; VANTAS for treating advanced prostate cancer, SUPPRELIN LA for central precocious puberty, and DELATESTRYL for the treatment of hypogonadism. Its urology and endocrinology development portfolio contains multiple compounds, which comprise NEBIDO for male hypogonadism; VALSTAR for bladder cancer; PRO 2000 for the prevention of infection by HIV and other sexually-transmitted diseases; the octreotide implant for acromegaly; and a biodegradable ureteral stent for the treatment of kidney stones. Indevus Pharmaceuticals also outlicenses the development and commercialization of various compounds comprising pagoclone for stuttering; ALKS 27 for chronic obstructive pulmonary disease, which it jointly develops with Alkermes, Inc.; aminocandin for systemic fungal infections for which, the company licensed the know-how to Novexel S.A.; and IP 751 for pain and inflammation for which, it licensed worldwide rights to Cervelo Pharmaceuticals, Inc. The company was founded in 1988 and is headquartered in Lexington, Massachusetts. With 77.51 million shares outstanding and 10.02 million shares declared short as of May 2008, there is no longer a failure to deliver in shares of IDEV. According to quarterly data provided by the SEC, there were still 29,279 shares of IDEV that were failing-to-deliver as of September 18, 2007.

National Coal Corp. (NASDAQ: NCOC | Quote | Chart | News | PowerRating) together with its subsidiaries, engages in mining, processing, and selling bituminous steam coal in east Tennessee and north Alabama. It serves electric utilities, industrial companies, and coal resellers. The company sells products through its employees, consultants, and independent brokers in the southeastern region of the United States. As of December 31, 2007, its active mining complexes included two underground mines, six surface mines, and two highwall mines. The company was founded in 2003 and is headquartered in Knoxville, Tennessee. With 28.82 million shares outstanding and 422,600 shares declared short as of May 2008, there is no longer a failure to deliver in shares of NCOC. According to quarterly data provided by the SEC, there were still 57,085 shares of NCOC that were failing-to-deliver as of September 28, 2007.

Penwest Pharmaceuticals Co. (NASDAQ: PPCO | Quote | Chart | News | PowerRating) develops pharmaceutical products based on drug delivery technologies with focus on products that address disorders of the nervous system. It offers Opana ER, an oral extended release opioid analgesic for patients with moderate to severe pain requiring continuous opioid treatment using its TIMERx drug delivery technology; and Nifedipine XL, for the treatment of hypertension and angina. The company's product candidates in clinical development include Nalbuphine ER for the treatment of moderate chronic pain; A0001 for the treatment of diseases related to the mitochondrial respiratory chain. It also develops product candidates for the treatment of pain, epilepsy, and Parkinson's disease. Penwest Pharmaceuticals Co. has a strategic alliance agreement with Endo Pharmaceuticals, Inc.; and a technology licensing collaborative agreement with Mylan Pharmaceuticals, Inc. and Otsuka Pharmaceutical Co., Ltd. The company was founded in 1991 and is based Danbury, Connecticut. Penwest Pharmaceuticals Co. (NasdaqNM:PPCO) operates independently of Penford Corp. as of August 31, 1998. With 31.63 million shares outstanding and 3.34 million shares declared short as of May 2008, there is no longer a failure to deliver in shares of PPCO. According to quarterly data provided by the SEC, there were still 30,229 shares of PPCO that were failing-to-deliver as of September 28, 2007.

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, www.buyins.net/squeezetrigger.pdf. The SqueezeTrigger database of nearly 2,050,000,000 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 month's short transactions, BUYINS.NET provides institutions, traders, analysts, journalists and individual investors the exact price point where short sellers start losing money.

All material herein was prepared by BUYINS.NET, based upon information believed to be reliable. The information contained herein is not guaranteed by BUYINS.NET to be accurate, and should not be considered to be all-inclusive. The companies that are discussed in this opinion have not approved the statements made in this opinion. This opinion contains forward-looking statements that involve risks and uncertainties. This material is for informational purposes only and should not be construed as an offer or solicitation of an offer to buy or sell securities. BUYINS.NET is not a licensed broker, broker dealer, market maker, investment banker, investment advisor, analyst or underwriter. Please consult a broker before purchasing or selling any securities viewed on or mentioned herein. BUYINS.NET may receive compensation in cash or shares from independent third parties or from the companies mentioned.

BUYINS.NET affiliates, officers, directors and employees may also have bought or may buy the shares discussed in this opinion and may profit in the event those shares rise in value. Market commentary provided by Thomas Ronk.

BUYINS.NET will not advise as to when it decides to sell and does not and will not offer any opinion as to when others should sell; each investor must make that decision based on his or her judgment of the market.

This release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. "Forward-looking statements" describe future expectations, plans, results, or strategies and are generally preceded by words such as "may", "future", "plan" or "planned", "will" or "should", "expected," "anticipates", "draft", "eventually" or "projected". You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements as a result of various factors, and other risks identified in a companies' annual report on Form 10-K or 10-KSB and other filings made by such company with the Securities and Exchange Commission.

You should consider these factors in evaluating the forward-looking statements included herein, and not place undue reliance on such statements. The forward-looking statements in this release are made as of the date hereof and BUYINS.NET undertakes no obligation to update such statements.

CONTACT: Thomas Ronk, CEO, BUYINS.NET Tel: +1 800 715 9999 e-mail: Tom@buyins.net WWW: http://www.buyins.net

M2 Communications Ltd disclaims all liability for information provided within M2 PressWIRE. Data supplied by named party/parties. Further information on M2 PressWIRE can be obtained at http://www.presswire.net on the world wide web. Inquiries to info@m2.com.

For full details on Avid Technology Inc (AVID) click here. Avid Technology Inc (AVID) has Short Term PowerRatings of 5. Details on Avid Technology Inc (AVID) Short Term PowerRatings is available at This Link.

    


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