Rolling buy-ins compliments of our favorite TARP recipients and other are back in full force. If you are short, you are screwed. Get out of the market right now. From a reader:
Will other readers whose short books are being forcibly bought in please contact me immediately at forcedshortsqueeze@zerohedge.com Sphere: Related ContentYesterday I received an email from ThinkOrSwim Canada stating that my shorted AAP shares would need to be returned by the end of the day because they had been declared as Hard To Borrow. I'm relatively new to investing and have never encountered something like that so I assumed it was a rare, isolated occurrence.
Today, I received this email:
We have received notice from our clearing firm, Penson Financial Services Canada, advising that two of the stocks (CAR and EW) in your account is now hard to borrow. Because this security is not available to borrow, it may need to be bought-in, with a deadline of 3pm central time today, July 17th. If you do not buy the stock, we may be required to do it for you to cover this short position.
So that's three of my short positions getting recalled. I don't know if this is noteworthy or not. Is this normal or is this more market manipulation designed to sustain and prolong the current rally? Is this akin to BAC becoming hard to borrow because the big banks were restricting the ability to borrow them?
