Don't put your hard earned cash into a daily FINRA short list.
If this traded 30K tomorrow and I was the seller, you will probaly see a short of 20K. The MM who had did my sell may not have enough of those shares to cover. He has to get the shares from another MM and FINRA reports that as shorting.
Was it shorting on my part as the seller, I don't think so.
FINRA Short listings was the rave of IHUB several months ago until someone actually did some research to find out what FINRA defines a short as.
Be careful with your money in TYTN.
You only learn about trading by asking those saying the moon is our target to explain just how is that going to happen. Ask questions, and don't be satisfied with answers that don't have anything to do with the question.
FINRA Short listings mean absolutely nothing and to push that about TYTN is wrong."
Borrowed this from another poster on Ihub/changed ticker.
Shorts on pinks is like obama on transparency.....98% B.S. - Bernanke nomics
Borrowed from another poster on iHub? Exactly. iHub is the only place you will find these far fetched claims regarding the short volume list.
Now heres the problem with that. When a Market Maker fills someones sell order, they first sell their own shares into the market, at this point they are considered "short", this is what ALSO gets recorded in the daily short volume list.
In reality, the MM was never short selling the stock, but due to how the basic fundamentals of stock trading works, the MMs are still considered short when they sell shares into the market. Now of course when they buy the shares from the person selling, which happens in most cases seconds later, they are no longer considered short.
So you see, it's not that FINRA is putting out inaccurate data, the problem is not many people actually understand what the data actually shows, and thus, use it like you do as a "sign" of how much short selling is going on, which when used in this way, the data is not accurate or correct at all. - Er0ck
Market makers do not sell their shares first, and record it as a short. Then buy the shares of the person they are intending on "selling for".
If anything, and as Bernanke nomics has stated above, a market maker shorts shares he does not have at the ask and records that trade as a short, then covers at the bid with the shares of the person attempting to sell.
Very likely what they were doing the past few days/weeks while "our" big seller was dumping.
The other thing that disproves "others" claims is there have been stocks that I was the only person buying or selling on a given day.
On the selling days, short volume WAS NOT 100% short as one would expect based upon the above claim. Also, the only volume for those days was the volume of my trades. So no 2 separate legs of the trade were recorded to make the short volume 50% either, as one would attempt to claim.
Short exemptions are reported at ZERO. So claiming short volume is composed of anything but true shorts is PURE SPECULATION based upon incomplete knowledge and information.
Like I have said, please provide proof source from another source other than a over-circulated phone conversation, some on iHub have claimed to have had with FINRA. I know of a couple people, who have made the call to FINRA, and have been told otherwise by FINRA.
So please provide proof from a securities text book or online training site.
Regarding TYTN, heavy shorting the past few weeks with 14.8MM shares of short interest on the bi-monthly report!
Good Luck!
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