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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.
Seligman Select Municipal Fund Inc. (NYSE: SEL | Quote | Chart | News | PowerRating) operates as a closed-end municipal fund. The fund invests in municipal bonds. J. & W. Seligman & Co. Incorporated serves as investment manager of the fund. Seligman Select Municipal Fund was established in 1989 and is based in New York City. With 13.28 million shares outstanding and 200 shares declared short as of September 2008, the failure to deliver in shares of SEL has not been resolved and a buy-in is imminent. According to quarterly data provided by the SEC, there were still 39,696 shares of SEL that were failing-to-deliver as of September 16, 2004.
CoStar Group Inc. (NASDAQ: CSGP | Quote | Chart | News | PowerRating) provides information services to the commercial real estate industry in the United States and the United Kingdom. Its Property Professional service provides inventory of office, industrial, retail, and multi-family properties and land; and Property Express service offers base-building information, photos, floor plans, maps, and reports. The company offers COMPS Professional service that provides coverage of comparable sales information to commercial real estate industry; COMPS Express, which provides access to the COMPS Professional system; Tenant, an online business-to-business prospecting and analytical tool, offers real estate-related tenant information; and FOCUS, a digital online service, offers information on commercial real estate market in the United Kingdom. The company also provides Connect, which licenses the technology and information to market the U.S. property listings on corporate Web sites; Commercial MLS, a collection of researched for-sale listings; and Advertising that offers space for lease or sale directly to the individuals. In addition, it offers Professional Directory service that provides detailed contact information for commercial real estate professionals; Market Report, which provides current and historical analytical information; and Metropolis service, which combines commercial real estate data from multiple information providers. Further, CoStar Group provides Propex, which gives access to the commercial property investment market; Shopproperty.co.uk, a listing database of available retail units; and Grecam that provides commercial property availability and transaction information through online service and market reports. CoStar provides its services to commercial real estate brokers, as well as owners, landlords, financial institutions, retailers, vendors, appraisers, investment banks, and other parties involved in commercial real estate. The company was founded in 1987 and is headquartered in Bethesda, Maryland. With 19.6 million shares outstanding and 7.19 million shares declared short as of September 2008, the failure to deliver in shares of CSGP has not been resolved and a buy-in is imminent. According to quarterly data provided by the SEC, there were still 132,367 shares of CSGP that were failing-to-deliver as of June 10, 2008.
Maxwell Technologies Inc. (NASDAQ: MXWL | Quote | Chart | News | PowerRating) engages in the development, manufacture, and marketing of energy storage and power delivery products. It offers BOOSTCAP ultracapacitor cells, and multi-cell packs and modules for applications in multiple industries, including transportation, automotive, telecommunications, energy, consumer, and industrial electronics; and CONDIS high-voltage capacitors comprising grading and coupling capacitors, and capacitive voltage dividers that are used to ensure the safety and reliability of electric utility infrastructure and other applications involving transport, distribution, and measurement of high-voltage electrical energy. The company also offers radiation-mitigated microelectronic products, including power modules, memory modules, and single board computers for space and satellite applications. Maxwell Technologies markets and sells its products through direct and indirect sales organizations in North America, Europe, and Asia. The company was founded in 1965. It was formerly known as Maxwell Laboratories, Inc. and changed its name to Maxwell Technologies, Inc. in 1996. The company is headquartered in San Diego, California. With 21.14 million shares outstanding and 3.24 million shares declared short as of September 2008, the failure to deliver in shares of MXWL has not been resolved and a buy-in is imminent. According to quarterly data provided by the SEC, there were still 385,285 shares of MXWL that were failing-to-deliver as of May 10, 2007.
NetLogic Microsystems Inc. (NASDAQ: NETL | Quote | Chart | News | PowerRating) a fabless semiconductor company, designs, develops, and markets processors and integrated circuits. The company offers knowledge-based processors, physical layer products, and network search engine products for systems used in the Internet infrastructure, including the enterprise, metro, access, edge, and core networking markets. Its products are deployed in routers, switches, wireless infrastructure equipment, network security appliances, datacenter servers, network access equipment, and network storage devices to accelerate the delivery of voice, video, data, and multimedia content for enterprise, datacenter, communication, and mobile wireless networks. NetLogic Microsystems sells products to original equipment manufacturers through its direct sales force and independent sales representatives primarily in the United States, Asia, and Europe. The company was founded in 1995 and is headquartered in Mountain View, California. With 21.72 million shares outstanding and 10.08 million shares declared short as of September 2008, the failure to deliver in shares of NETL has not been resolved and a buy-in is imminent. According to quarterly data provided by the SEC, there were still 1,366,111 shares of NETL that were failing-to-deliver as of April 4, 2006.
NVE Corp. (NASDAQ: NVEC | Quote | Chart | News | PowerRating) engages in the development and sale of devices, which use spintronics, a nanotechnology that relies on electron spin rather than electron charge to acquire, store, and transmit information. It provides standard sensors that detect the presence of a magnet or metal to determine position or speed; and custom sensors primarily for medical devices, as well as couplers, including IsoLoop 700 Series that use semiconductor input stages, and IsoLoop 600 Series, which use spintronic input stages, primarily for factory and industrial networks. The company also licenses the spintronic magnetoresistive random access memory technology. It sells its products through distributors primarily in the United States, Europe, and Asia. The company was founded in 1982 and is headquartered in Eden Prairie, Minnesota. With 4.66 million shares outstanding and 595,500 shares declared short as of September 2008, the failure to deliver in shares of NVEC has not been resolved and a buy-in is imminent. According to quarterly data provided by the SEC, there were still 330,906 shares of NVEC that were failing-to-deliver as of June 29, 2004.
Open Text Corp. (NASDAQ: OTEX | Quote | Chart | News | PowerRating) develops, markets, sells, licenses, and supports Enterprise Content Management (ECM) solutions primarily in North America and Europe. The company's ECM solutions help customers manage their critical business content, including version revisions and compliance with regulatory requirements. Its principal product, Livelink, enables corporations to manage traditional forms of content, such as images, office documents, graphics, and drawings, as well as to manage electronic content, including Web pages, email, and video. The company also offers ECM solutions that bring together people, processes, and information, as well as software, which combines collaboration with content management, transforming information into knowledge that provides the foundation for innovation, compliance, and accelerated growth. In addition, Open Text Corporation provides training, consulting, hosting services, and customer support programs. It has strategic alliances with SAP AG, Microsoft Corporation, and Oracle Corporation. The company was founded in 1991 and is headquartered in Waterloo, Canada. With 51.16 million shares outstanding and 17.92 million shares declared short as of September 2008, the failure to deliver in shares of OTEX has not been resolved and a buy-in is imminent. According to quarterly data provided by the SEC, there were still 920,948 shares of OTEX that were failing-to-deliver as of December 29, 2006.
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 2,200,000,000 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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