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Technology Stocks : OmniVision Technologies (OVTI) -- Ignore unavailable to you. Want to Upgrade?

To: Tom Caruthers who wrote (2201)	7/15/2008 2:10:34 PM
From: Brian	Read Replies (1) \| Respond to of 2273

With a 25% short interest, this news might have helped OVTI today SEC to Limit Short Sales of Fannie, Freddie, Brokers (Update1) bloomberg.com By Jesse Westbrook and David Scheer July 15 (Bloomberg) -- The U.S. Securities and Exchange Commission will take emergency action today to the limit the ability of traders to bet on a decline in the shares of Freddie Mac, Fannie Mae and brokerages, the agency's chairman said. Christopher Cox told the Senate Banking Committee that the SEC will issue an order today imposing a ``preborrower requirement'' on short sales in the mortgage-financing companies and Wall Street firms. The requirement would prohibit the practice known as naked short selling, in which traders avoid the financial burden of borrowing shares when betting they'll fall. ``In addition to this emergency order, we will undertake a rulemaking to address the same issues across the entire market,'' Cox said in his remarks to the committee. The SEC has been investigating whether trading abuses contributed to the collapse of Bear Stearns Cos. in March and the 78 percent drop in the market value of larger rival Lehman Brothers Holdings Inc. this year. Fannie Mae and Freddie Mac have each lost about 80 percent of their value amid speculation the mortgage-market crisis may push the firms into insolvency. Freddie Mac, down as much as 34 percent today before Cox's comments, recouped more than half of the drop and was down 15 percent at 1:17 p.m. in New York Stock Exchange composite trading. Fannie Mae shares rebounded from a 30 percent drop and were down 12 percent. ``I don't think the government should ban short-selling in anything as long as it's fully disclosed, as long as there's no manipulation,'' MFS Investment Management Chairman Robert Pozen said in an interview with Bloomberg News yesterday. ``Don't we want the market to work here?'' John Nester, an SEC spokesman, said the SEC's emergency order will ``require any person effecting a short sale in the listed securities to borrow the securities before the short sale is effected and deliver the securities on settlement date.'' In traditional short selling, traders borrow stock through a broker and hope to profit by selling shares high and later buying them back at lower prices to repay the loan. Naked short sellers do the same thing, with one difference: They don't borrow any shares. Naked short selling isn't illegal in most cases, unless authorities can prove fraud, such as a scheme to manipulate stock prices. To contact the reporter on this story: Jesse Westbrook in Washington at jwestbrook1@bloomberg.net. Last Updated: July 15, 2008 13:45 EDT

To: Tom Caruthers who wrote (2201)	7/15/2008 2:35:22 PM
From: Elroy	Respond to of 2273

If it can close above yesterday's close, that would be good news.... I own it, but want to buy more around $10, so need another 10% leg down within the next few weeks.....