HI Exitech, if you look at my previous posts you will see that the short volume has been gradually decreasing - in my opinion - this ACTION today is exactly what needs to happen to move upward
this is due to MM's trying to get out of their short positions in the previous sessions,
one way of them doing this is by using DOUBLE-PRINT TRANSACTIONS (which in my opinion was happening in a big way over the last 5 to 7 trading sessions)
NOW - the short position is more manageable - I feel that they have an idea that this is about to run, just my opinion
also, there are several STRONG longs here that are LOCKING in their shares and holding onto them and not selling
at this time, to get shares, my feeling is that the ASK will have to be hit because I do not think we will see the DOUBLE-PRINT transactions like we were seeing before
I have been posting about this periodically and you will see that the trading action has followed suit
here is your last trading sessions:
as you can see in RED, the short percentage of the recent sessions have significantly lessened
versus the previous sessions I have outlined in GREEN
NEW SHORT SELLING DATA
Date VolShorted HighLow Close ShortVol RegularVol
Mar 02 6.10% 0.00 0.00 0.00 887,698 14,554,051
Feb 27 3.38% NA NA NA 719,000 21,282,499
Feb 26 6.29% NA NA NA 570,911 9,076,786
Feb 25 4.20% NA NA NA 1,180,837 28,117,989
Feb 24 15.50% NA NA NA 8,146,300 52,552,303
Feb 23 17.22% NA NA NA 2,925,006 16,986,469
Feb 20 17.72% NA NA NA 1,587,093 8,956,636
Feb 19 7.87% NA NA NA 341,000 4,333,100
Feb 18 53.45% NA NA NA 1,888,300 3,532,580
Feb 17 31.90% NA NA NA 1,530,332 4,797,330
Feb 13 54.92% NA NA NA 1,284,000 2,338,000
Feb 12 30.50% NA NA NA 2,325,845 7,624,988
Feb 11 68.78% NA NA NA 2,120,123 3,082,447
Feb 10 50.52% NA NA NA 2,301,977 4,556,486
Feb 09 11.95% NA NA NA 703,849 5,889,907
Feb 06 39.77% NA NA NA 1,720,000 4,325,071
Feb 05 33.78% NA NA NA 1,532,029 4,534,940
here is some additional information to understand about how shares can be lent between brokers for the purpose of shorting and covering shorts.....
double-print-transactions-NOTICE-YES-SHORTED-SHARES being covered in a multitude of ways - not just direct - READ every word to more FULLY UNDERSTAND
it is VERY important to UNDERSTAND that the WORD restricted in the following paragraphs - HAVE ABSOLUTELY NOTHING TO DO WITH THE RESTRICTED SHARES that INCC has given to the INSIDE owners - that is ANOTHER type of restricted shares (so dont confuse the two)
this explains in FULL DETAIL of a way that a broker can lend shares . . .
in a crazy world of MM's, dark pools and dark rooms, the manipulation of stock is part of investing in this risky OTC world . . . .
but this will hopefully help further understand . . . .
In a double print transaction, a short position
is closed out (either by using the shares to settle
the short sale or delivering the shares to the securities
lender who loaned the shares that were used
to settle the short sale) with shares purchased in the
open market. Then, shares that at the time of the
short sale were neither exempt from registration nor
registered for that sale (for example, because they
were “restricted securities” acquired in a private
transaction) but subsequently become exempt or
registered for sale are sold in the market. The double
print works if the sale is sufficiently separated from
the open market purchase to be delinked. 12 The SEC
referenced its longstanding position on the use of
restricted securities to cover short sales in note 90 to
the December 2007 release adopting amendments to
Rule 144, which included citations to four prior SEC
releases over a 28 year period from 1979 to 2007. 13
This principle applies equally when it is advantageous
to a purchaser as when it is disadvantageous.
To summarize, a short sale is subject to compliance
with Section 5 at the time the short sale is
entered into. If the short-seller subsequently covers
the short sale (directly or by closing out a borrow
position) with shares that were restricted or otherwise
not exempt at the time of the short sale, in the
view of the Commission and the staff, with which
this writer concurs, Section 5 is violated by the original
sale. The rationale is that what was really sold in
the short sale were the restricted securities because
that is what the short sale was directly or effectively
covered with by the short seller. The underlying Section
5 rationale is that, for purposes of the statute,
entering into the short sale is a sale at the time the
short sale occurs, and the restricted securities used
to close out the short sale could not have been used
at the time of the short sale. Because every offer
and every sale of every security is either registered,
exempt, or illegal, this sale is neither registered nor
exempt and is therefore illegal. Section 5 is not violated
if the short sale is closed out with shares the
offer and sale of which are exempt from registration
at the time of entering into the short sale.
short selling can be used as a tool to manipulate the market.
"Naked" Short Sales: In a "naked" short sale the investor sells shares "short" without first having borrowed them. Such a transaction is permitted because there is no legal requirement that a short seller actually borrow the shares before effecting a short sale.
But, before effecting a short sale, Rule 204T requires that the broker-dealer, as opposed to the seller, "locate" an entity that the broker reasonably believes can deliver the shareswithin three days after the trade — what's known as T+3. Also, if reasonable, a broker-dealer may rely on a short seller's assurance that the short seller has located his or her own lender that can deliver shares in time for settlement.
"Fails-to-deliver": If an investor or its broker-dealer does not deliver shares by T+3, a "failure to deliver" occurs. Where an investor or its broker-dealer neither locates nor delivers shares, a "naked" short sale has occurred.
A "fail to deliver" can occur for legitimate reasons, such as mechanical errors or processing delays. Further, a "fail to deliver" could occur as a result of a long sale — that is the typical buy-sell transaction — as well as a short sale.
"Fails to deliver", such as fails resulting from potentially abusive "naked" short selling, may have a negative effect on shareholders, potentially depriving them of the benefits of ownership such as voting and lending. They also may create a misleading impression of the market for an issuer's securities.
Adopting Regulation SHO: Due to its concerns regarding persistent "fails to deliver" and potentially abusive "naked" short selling, the Commission adopted Regulation SHO, which became effective in early 2005. This regulation imposes, among other things, the requirement that broker-dealers locate a source of borrowable shares prior to selling short.
In addition, it requires that firms that clear and settle trades must purchase shares to close out these "fails to deliver" within a certain time frame, 13 days.
here is some additional info about the REG SHO report:
It is highly contested whether or not the daily RegSHO reports that a security has been "shorted", as having a short position, or if it is just a type of reporting requirement for market making activities. It is both. Transactions that have shares marked as "short" can very well be an investor selling a short position or a market maker allocating shares in order to provide liquidity but not in their possession.
Regulation SHO requires brokers and dealers that are participants of a registered clearing agency to take action to "close-out" failure-to-deliver positions ("open fails") in threshold securities that have persisted for 13 consecutive settlement days. Closing out requires the broker or dealer to purchase securities of like kind and quantity.
1. What is REGSHO
Regulation SHO was introduced in the Securities Exchange Act Release No. 50103 and became effective as of on September 7, 2004 but did not become mandatory until January 3, 2005. REGSHO was adopted to provide market transparency, regulation, and specifically prevention of "Naked Short Selling". REGSHO has two specific parts, Rule 200 and Rule 203.
Rule 200 - Definitions and Marking Requirements.
This rule provides a few technical requirements for market makers and broker-dealers but has a major requirement concerning the marking of shares sold. It specifies shares sold during trading to be identified and marked as being sold "long," "short," or "short exempt."
Rule 203 - Locate and Delivery Requirements.
This rule clearly defines that broker-dealers, before making short sales in any equity securities, must locate the securities available first, before borrowing. This is in order to be able to deliver the securities on the settlement date. The second part of this rule imposes requirements on broker-dealers which have had substantial amounts of failures to deliver for securities.
1.2 Understanding the Daily REGSHO report
At the end of each trading day, a RegSHO report is submitted to FINRA by each of its Trade Reporting Facilities (TRF). A TRF, according to FINRA, "provides FINRA members with a mechanism for the reporting of transactions effected otherwise than on an exchange." More information about them can be found here. FINRA Trade Reporting Facility
Simply put, a TRF is a way to report security transactions that happen on registered national exchanges, quotation systems, or other platforms. Currently there are 3 RegSHO reports generated for the NASDAQ, NYSE, and OTC Markets and Others.
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