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UBS Wants Its IYR Back Stat

Submitted by Tyler Durden on 09/14/2009 09:24 -0400

New York Stock Exchange

From a UBS email sent to clients earlier:

"Stock loan recall for IYR (for the firm) but nothing specific for your account as of yet."

Time for the NYSE to follow suit and have some "opening problems"

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Mon, 09/14/2009 - 09:41 | 68617 Anonymous

Just buy some SRS, that way you dont get a forced squeeze compliments of TBTF banks who want to short the shares for themselves.

Mon, 09/14/2009 - 11:18 | 68705 Sardonicus

Buying SRS in light of this recall is the same as getting squeezed on IYR.

bankruptcy deathwish

Mon, 09/14/2009 - 12:10 | 68738 loki

Pardon my lack of financial understanding, but what does this mean?

[I'm not familiar with what this means]

Can someone explain it?

Thanks.

Mon, 09/14/2009 - 12:19 | 68742 Anonymous

I second that request.

Mon, 09/14/2009 - 12:30 | 68748 Sardonicus

To short IYR you had to borrow the shares from a broker. If you borrowed them from UBS, they just said they want them back now.

So your trade is dead if you borrowed from them. It could, and probably has started short covering on IYR.

Mon, 09/14/2009 - 12:45 | 68758 loki

Is this a way to limit shorting IYR? What purpose does it serve UBS?

Thanks for answering I've learned so much on ZH, even just finding it only a few months ago!

Mon, 09/14/2009 - 09:54 | 68629 Anonymous

"Stocks and Options at ARCA are currently unavailable for trading."

Mon SEP 14 9:15:24 2009 EST
Interactive Brokers

Mon, 09/14/2009 - 09:56 | 68633 Sardonicus

Well, that would probably work better that upgrading IYR to morbidly obese or whatever comes after "overweight"

Mon, 09/14/2009 - 11:17 | 68704 Hephasteus

LOL.

Mon, 09/14/2009 - 10:11 | 68647 Biff Malibu

"morbidly obese" lmao!!! good one

Mon, 09/14/2009 - 10:43 | 68674 Anonymous

I don't understand this one, can someone elaborate?

Mon, 09/14/2009 - 10:43 | 68675 CD

AIG just jumped 6% in the last 15 minutes, perhaps it's not just UBS, and not just IYR shares...

Mon, 09/14/2009 - 11:25 | 68710 Sardonicus

Yes another day of junkers in orbit.

This is what buying things like AIG, C, FRE, YRCW, DRYS, and AXL looks like from a surveillence camera on a trading room.

http://www.youtube.com/watch?v=zaGuwPodf1s

Mon, 09/14/2009 - 11:19 | 68706 Anonymous

no on srs

Mon, 09/14/2009 - 11:36 | 68718 Anonymous

Dont forget lehman lehmq, at one point up 78% and now just up 45%.

Did the same thing happen right before the last collapse in CRE equities, did they recall shares available for shorts? Is that what the huge one up day candle (extremely painful squeeze for those who sold) was on Sept 18-19th? Right before the collapse in the sector.

Mon, 09/14/2009 - 13:38 | 68837 Anonymous

maybe the bigs are looking for some stability before some secondary issuance

Mon, 09/14/2009 - 17:58 | 69274 Gilgamesh

Nah, no way even more REIT secondaries are coming...

Monday September 14, 2009, 4:53 pm EDT

Glimcher Announces Offering of Common Shares

Monday September 14, 2009, 4:56 pm EDT

Cousins Properties launches stock offering

I'm sure there's more I haven't seen yet.

UBS Wants Its IYR Back Stat

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