Friday, September 19, 2008

The SEC Institutes Ban On Short Selling 799 Financial Stocks

You can no longer sell the following companies short, at least until October 2nd. After that, they can extend the ban another 10 days.

There are 799 companies on the list. Think every financial.... if anyone knows where to find the list, please leave it in the comments.

Here are some of the big ones...

C, DB, WFC, MS, BCS, STI, WM, UBS, BAC, STT, etc.

I don't know how to explain this to those who don't trade stock. It is an unprecedented move. It's ultimately manipulative, and it's not how free markets work.

UPDATE: Here is the list.
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6 comments:

  1. MatchPointTraderSeptember 19, 2008 at 8:39 AM

    You are awesome DT. Thanks for the list!

    ReplyDelete
  2. DenariiSeptember 19, 2008 at 9:01 AM

    a least we can truely agree on this 100%

    ReplyDelete
  3. UnknownSeptember 19, 2008 at 9:10 AM

    I have a question...if you cant short then you cant sell therefore you cant buy because noone is selling????

    ReplyDelete
  4. TraderAmSeptember 19, 2008 at 9:15 AM

    Not quite, you can buy from someone who is selling their current holding.

    ReplyDelete
  5. MatchPointTraderSeptember 19, 2008 at 9:22 AM

    Sure denarii. Thanks!

    ReplyDelete
  6. Dinosaur TraderSeptember 19, 2008 at 9:12 PM

    Thanks, Jamie.

    It's quite a list. I'm surprised REITs aren't included.

    -DT

    ReplyDelete

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