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Strategies & Market Trends : Ask Vendit Off-Topic Questions
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To: Vendit™ who wrote (3680)1/10/2005 9:02:28 AM
From: Walkingshadow  Read Replies (1) of 8752
 
FWIW, I got this on the newswires:

According to Barron's, beginning Monday, the major stock exchanges will begin posting lists of stocks that have a certain number of shares which have "failed to deliver." This serves as a proxy for shares sold short without the seller's broker having firmly arranged to borrow them. These so-called "naked short sales" have been targeted by regulators. Exchanges must now publish stocks with many unconsummated trades, a rule meant to force brokers to clean up the practice. The SEC rule, called Regulation SHO, requires that any stock with at least 10K shares and 0.5% of the stock's float categorized as failed to deliver will be on the threshold lists. Brokers will then be required to cancel or close out short sales in these names, presumably through forced buying of the stocks. Heavily shorted small stocks likely will show up on this list, and many traders have decided to speculate on potential upside "short squeezes" by buying them in anticipation. Early indications are that popular day-trader favorites and short tgts such as TravelZoo (TZOO), American Pharmaceutical Partners (APPX), Biosite (BSTE), Pre-Paid Legal (PPD), Martha Stewart Living (MSO) and Novastar Financial (NFI) will be featured on the initial lists.

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