Tuesday, October 7, 2008

Scheduled Expiration of Short Sale Ban

The SEC has announced that the ban will end on 11:59 pm EDT, October 8th. Thursday will be the broader market's first chance to sell financial shares (*and IBM, GM, Ford, CVS) short in 3 weeks. This is a positive development for the equity markets as a whole, but on a micro basis, I would imagine that a few issues will get hammered.

*It hasn't been the full 3 weeks for some of these, but you get the picture.

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