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Regulation SHO took effect January 3, 2005, and provides a new regulatory framework governing short selling of securities. It was designed with the objective of simplifying and modernizing short sale regulation and providing controls where they are most needed. At the conclusion of each settlement day, data is provided on securities in which: 1) there are at least 10,000 shares in aggregate failed deliveries for the security for five consecutive settlement days, and 2) these failures constitute at least 0.5% of the issuer's total shares outstanding. Regulation SHO mandates that, if a clearing agent has had a fail-to-deliver position for 13 consecutive settlement days, that clearing agent, and the broker/dealer it clears for, must purchase securities to close out its fail to deliver position.
Sangamo BioSciences Inc. (NASDAQ: SGMO | Quote | Chart | News | PowerRating) focuses on the research, development, and commercialization of zinc finger DNA-binding proteins (ZFPs) for gene regulation and gene modification in the United States. Its ZFPs could be engineered to make ZFP transcription factors (ZFP TFs), proteins that can be used to turn genes on or off; and ZFP nucleases, proteins that enable to modify DNA sequences in various ways. The company's ZFP Therapeutic, SB-509, a plasmid formulation of a ZFP TF activator of the vascular endothelial growth factor-A (VEGF-A) gene, is in Phase 2 clinical trials for the treatment of diabetic neuropathy (DN). It also involves in preclinical development programs of ZFP therapeutics that focus on spinal cord injury, stroke, traumatic brain injury, neuropathic pain, and Parkinson's disease. In addition, the company has research-stage programs in X-linked severe combined immunodeficiency (X-linked SCID), hemophilia, and hemoglobinopathies. It has strategic partnerships with companies, including Dow AgroSciences, LLC and Sigma-Aldrich Corporation, as well as research and license agreements with various life sciences companies, such as Pfizer, Inc.; Novo Nordisk, Inc.; Novartis A/G; Amgen, Inc.; Kirin Brewery Company; Medarex, Inc.; and Genentech, Inc. The company was founded in 1995 and is based in Richmond, California. With 40.82 million shares outstanding and 7.95 million shares declared short as of July 2008, the failure to deliver in shares of SGMO has not been resolved and a buy-in is imminent. According to quarterly data provided by the SEC, there were still 159,036 shares of SGMO that were failing-to-deliver as of September 28, 2007.
Sirius Satellite Radio Inc. (NASDAQ: SIRI | Quote | Chart | News | PowerRating) provides satellite radio services in the United States. It offers commercial-free music channels that provide a selection of music genres, such as rock, pop, hip-hop, country, dance, jazz, Latin, and classical; and channels of sports, news, talk, entertainment, traffic, weather, and data content. As of March 31, 2008, the company offered a programming lineup of 69 channels of commercial-free music; 54 channels of sports, news, talk, and entertainment; and 11 channels of traffic and weather, as well as informational data services. It served approximately 8,644,319 subscribers. In addition, the company sells radios and accessories for use in cars, trucks, homes, offices, boats, or other locations primarily through automakers, consumer electronics retailers, and mobile audio dealers, as well as through its Web site. Further, it provides SIRIUS Internet Radio, an Internet-only version of its service. The company, formerly known as CD Radio, Inc., was founded in 1990 and is headquartered in New York, New York. With 1.5 billion shares outstanding and 153.87 million shares declared short as of July 2008, the failure to deliver in shares of SIRI has not been resolved and a buy-in is imminent. According to quarterly data provided by the SEC, there were still 114,434 shares of SIRI that were failing-to-deliver as of September 28, 2007.
Smithtown Bancorp Inc (NASDAQ: SMTB | Quote | Chart | News | PowerRating) operates as a bank holding company for Bank of Smithtown, which provides commercial and consumer banking services. Its deposit products include savings deposits, NOW accounts, money market accounts, time deposits, interest-bearing deposits, and demand deposits. The company also offers residential and commercial mortgages, construction and land loans, secured and unsecured commercial loans, and secured and unsecured consumer loans. In addition, it provides merchant credit and debit card processing, safe deposit boxes, and online banking, including bill pay, telephone banking, automated teller machines, and individual retirement accounts. Further, the company offers tax deferred annuities and mutual funds, investment management, trust services, and commercial and personal insurance products, as well as financial products and services. As of February 25, 2008, it had 15 branches that are located in Suffolk and Nassau Counties of Long Island, New York. The company was founded in 1910 and is headquartered in Hauppauge, New York. With 9.83 million shares outstanding and 408,700 shares declared short as of July 2008, the failure to deliver in shares of SMTB has not been resolved and a buy-in is imminent. According to quarterly data provided by the SEC, there were still 12,962 shares of SMTB that were failing-to-deliver as of August 15, 2007.
Synta Pharmaceuticals Inc. (NASDAQ: SNTA | Quote | Chart | News | PowerRating) a biopharmaceutical company, focuses on discovering, developing, and commercializing small molecule drugs that address severe medical conditions, including cancer and chronic inflammatory diseases. The company's product pipeline primarily includes elesclomol, an oxidative stress inducer, which is in Phase III clinical trial for the treatment of metastatic melanoma, and about to enter Phase II clinical trial for the treatment of additional cancers. It also develops STA-9090, an Hsp90 inhibitor, which is in the Phase I clinical trial for the treatment of cancer; and STA-9584, which is in preclinical development stage for the treatment of cancer. In addition, the company offers Apilimod (STA-5326), which is in Phase IIa clinical trial in patients with rheumatoid arthritis, as well as sponsors a Phase IIa clinical trial in patients with gastrointestinal manifestations of common variable immunodeficiency. Further, it provides Oral CRAC ion channel inhibitor program, which is in the lead optimization stage for the treatment of autoimmune diseases. The company has a partnership agreement with Glaxosmithkline for the development and commercialization of elesclomol. Synta Pharmaceuticals Corp. was founded in 2000 and is based in Lexington, Massachusetts. With 33.87 million shares outstanding and 2.19 million shares declared short as of July 2008, the failure to deliver in shares of SNTA has not been resolved and a buy-in is imminent. According to quarterly data provided by the SEC, there were still 270,766 shares of SNTA that were failing-to-deliver as of September 28, 2007.
S.Y. Bancorp Inc. (NASDAQ: SYBT | Quote | Chart | News | PowerRating) operates as the holding company for Stock Yards Bank & Trust Company that provides commercial banking, personal banking, investment management, and trust services in the United States. The company primarily engages in generating deposits and originating loans. Its deposit products include non-interest and interest bearing demand deposits, savings deposits, money market deposits, time deposits, and certificates of deposits. The company's loan portfolio comprises commercial and industrial, construction and development, real estate mortgage, home equity, and consumer loans. It also originates and sells single-family residential mortgages. In addition, the company offers securities brokerage services and life insurance products through arrangements with various third party providers; and wealth management services, estate planning and administration, retirement plan management, and custodian or trustee services. As of December 31, 2007, it operated 28 full service banking offices in Louisville, Indianapolis, and Cincinnati. The company was founded in 1904 and is headquartered in Louisville, Kentucky. With 13.41 million shares outstanding and 1.3 million shares declared short as of July 2008, the failure to deliver in shares of SYBT has not been resolved and a buy-in is imminent. According to quarterly data provided by the SEC, there were still 31,238 shares of SYBT that were failing-to-deliver as of September 28, 2007.
Syms Corp (NASDAQ: SYMS | Quote | Chart | News | PowerRating) operates a chain of off-price retail stores in the United States. Its stores primarily sell men's tailored clothing and haberdashery; women's dresses, suits, and separates, and accessories; children's apparel; and men's, women's, and children's shoes. The company's stores also offer luggage, domestics, and fragrances. As of March 1, 2008, it operated 33 stores. The company was founded in 1959 and is headquartered in Secaucus, New Jersey. With 14.59 million shares outstanding and 95,700 shares declared short as of July 2008, the failure to deliver in shares of SYMS has not been resolved and a buy-in is imminent.
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.
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HYPOTHETICAL OR SIMULATED PERFORMANCE RESULTS HAVE CERTAIN INHERENT LIMITATIONS. UNLIKE AN ACTUAL PERFORMANCE RECORD, SIMULATED RESULTS DO NOT REPRESENT ACTUAL TRADING AND MAY NOT BE IMPACTED BY BROKERAGE AND OTHER SLIPPAGE FEES. ALSO, SINCE THE TRADES HAVE NOT ACTUALLY BEEN EXECUTED, THE RESULTS MAY HAVE UNDER- OR OVER-COMPENSATED FOR THE IMPACT, IF ANY, OF CERTAIN MARKET FACTORS, SUCH AS LACK OF LIQUIDITY. SIMULATED TRADING PROGRAMS IN GENERAL ARE ALSO SUBJECT TO THE FACT THAT THEY ARE DESIGNED WITH THE BENEFIT OF HINDSIGHT. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE PROFITS OR LOSSES SIMILAR TO THOSE SHOWN.
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