I dug up this article a few minutes ago-----anyone have an opinion about how these shorts may have put downward pressure on the stock price lately? Its from tradingcharts.com
www.buyins.net, announced today that these select companies have been on the NASDAQ, AMEX and NYSE naked short threshold list for 13 consecutive trading days: National Storm Management Inc (OTC: NSMG), East Japan Railway Co Unsponsored ADR (OTC: EJPRY). For a complete list of companies on the naked short list please visit our web site. To find the SqueezeTrigger Price before a short squeeze starts in any stock, go to www.buyins.net.
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.
National Storm Management Inc (OTC: NSMG) operates as a storm restoration management company specializing in residential home repair from the effects of wind and hail damage to residents in Florida, Illinois, Indiana, Minnesota, Louisiana, Georgia, Ohio, and Kentucky. The company offers exterior packages for residential and commercial applications that include siding, roofing, gutters, windows, doors, soffit, facia wrap, vinyl railing, vinyl fences, custom copper work, decorative aluminum and vinyl trim, and custom metal work. The company was founded in 2000 and is headquartered in Glen Ellyn, Illinois. With 129.15 million shares outstanding and 17,600 shares declared short as of July 2008, the failure to deliver in shares of NSMG has not been resolved and a buy-in is imminent. According to quarterly data provided by the SEC, there were still 535,229 shares of NSMG that were failing-to-deliver as of September 21, 2007
AI
