buyins.net scam jumps on BIDZ:
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BUYINS.NET: BIDZ.com, Inc. (BIDZ) SqueezeTrigger Price is $13.77. Approximately 10.6 Million Shares Shorted Since May 2007 According to Buyins.net Research Report
Thursday, November 29, 2007; Posted: 09:43 AM
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BUYINS.NET: SLW, BIDZ, MTEX, NGPC, SIRT, CINT Have Been Added To Naked Short List Today
Nov 29, 2007 (M2 PRESSWIRE via COMTEX) -- BIDZ | charts | news | PowerRating -- BUYINS.NET, www.buyins.net, is initiating coverage of BIDZ.com, Inc. (NASDAQ: BIDZ | charts | news | PowerRating) after releasing the latest short sale data to November 2007. From May 2007 to November 2007 approximately 60.2 million total aggregate shares of BIDZ have traded for a total dollar value of nearly $829.8 million. The total aggregate number of shares shorted in this time period is approximately 10.6 million shares. The BIDZ SqueezeTrigger price of $13.77 is the volume weighted average short price of all short selling in BIDZ. A short squeeze is expected to begin when shares of BIDZ close above $13.77. To access SqueezeTrigger Prices ahead of potential short squeezes beginning, visit buyins.net.
Month Total Vol. Short Vol Avg.Price $Value
May 07 895,650 41,690 $6.81 $284,013
June 1,946,829 140,272 $8.68 $1,217,547
July 992,410 168,477 $8.00 $1,347,007
Aug 2,559,547 106,817 $8.36 $893,236
Sept 5,242,214 344,056 $10.39 $3,575,671
Oct 4,523,938 234,734 $13.88 $3,259,211
Nov 44,082,536 9,558,981 $14.16 $135,355,171
Tot 60,243,124 10,595,027 $13.77 $145,931,856
*short volume is approximated using exchange data and a proprietary algorithm.
**average short price is calculated using a volume weighted average short price.
***short volume is the total short trade volume and does not account for covers.
BIDZ.com, Inc. has been on the NASDAQ Naked Short Threshold list for 4 trading days and short sellers have been failing to deliver for 9 consecutive trading days. 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. SEC Regulation SHO, under the Securities Exchange Act of 1934, 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.
About BIDZ.com, Inc.
BIDZ.com, Inc. is an online auctioneer of jewelry, art and collectibles. Bidz offers outstanding value for its products through a highly entertaining interactive auction format. The Company requires only a $1 minimum opening bid. Its auctions continue until all bids are received. Bidz management has long-term experience in offering hot new styles and bargain jewelry inventory; and its sourcing model provides an alternative liquidation channel for manufacturers. Bidz brings together the fragmented supply and demand of excess jewelry products in a single online location. It sells to consumers looking for a reliable source of bargain jewelry. Because of its low purchase cost, Bidz is able to give its customers control of the price they pay for products through a $1 minimum opening bid. Because Bidz purchases and retains its entire inventory on site, customers can rely on timely delivery of their purchases. Bidz also sells to resellers, who intend to resell their goods in secondary markets such as eBay and local auctions as well as through retail channels. These resellers have the opportunity to purchase products at lower prices than they would receive from manufacturers or other distributors. They also are able to purchase all of their products from one source. Bidz offers live auctions on its website 24 hours a day, seven days a week. For more information please visit the website at www.bidz.com.
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 1,650,000,000 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 month's 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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