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  • Wall Street Breakfast: Must-Know News [View article]
    The SEC made the rule against naked short selling permanent today. It was set to expire on July 31. This should keep the markets from going down quite so quickly when they retrace. This means that brokers have to have (or buy) stock that they are lending for short selling.

    We are still in a very volatile time.
    Jul 28 11:22 am |Rating: +3 0 |Link to Comment
  • Wall Street Breakfast: Must-Know News [View article]
    Vickers Weekly Insider Report reported Monday that the ratio of insider selling to buying last week was 4.16 to 1 (the highest the ratio has been since Oct. 2007). The more stable 8-week average was 2.69 to 1 (the highest since Nov. 2007).

    Of course, insiders are sometimes early, and occaisionally they are wrong. Still this does make one think that the current market rally may be facing strong headwinds in the near future.

    If you combine this with the news from BofA that they are now planning the closure of 10% of their branch offices, you get an ugly picture.
    Jul 28 09:08 am |Rating: +5 0 |Link to Comment
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