Spain Follows Italy In Banning Short Selling

Tyler Durden's picture




 

Moments after we reported the announcement of the Italian short-selling ban we had a simple question:

We now have our answer, as Spain has jumped on the banwagonTM

  • SPAIN STOCK MARKET REGULATOR BANS SHORT SELLING
  • SPAIN'S SHORT SELLING BAN INCLUDES DERIVATIVES, OTC INSTRUMENTS
  • SPAIN'S SHORT SELLING BAN COULD BE EXTENDED BEYOND 3 MONTHS

And just because in Europe one has to constantly outdo everyone else, the Spanish short selling ban is on all stocks, not just financials.

Next up on the banwagon: everyone else, now that the stigma of admitting 2012 is precisely just like 2011 (as we have been warning since January 1 of this year) is gone. Expect the ultra short relief rally to be follow by new plunge to historic lows.

 

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Mon, 07/23/2012 - 08:33 | 2642000 Squishi
Squishi's picture

now they just need to ban Long buying and everything will be fixed. 

Mon, 07/23/2012 - 08:38 | 2642014 TruthInSunshine
TruthInSunshine's picture

Bans on short selling will definitely resolve the arithmetic-based systemic problems holding the global economy and Broken-By-Bernank markets back.

Everything is fine. U.S. companies will do well. It's not like the EU is the largest economic block and base of consumption in the world or that it will filter through and adversely impact U.S. corporate earnings, or that China, Japan, South Korea, Canada or Australia won't be hampered further either.

I really don't think we needed to get to this point. If everyone had listened to Krugman, and had urged epicly indebted nations to borrow themselves out of their debt black holes, we'd be all good right now.

Paul Krugman gets no respect.

Eat your peas...and corn...bitchez.

/s

Mon, 07/23/2012 - 08:45 | 2642048 GetZeeGold
GetZeeGold's picture

 

 

Short selling is for the 1%........we can't have people making money on our stupidity.....even if they knew that was exactly what was going to happen.

 

Mon, 07/23/2012 - 09:11 | 2642138 Stuck on Zero
Stuck on Zero's picture

We mustn't have free markets, say the governments.

 

Mon, 07/23/2012 - 09:12 | 2642141 Precious
Precious's picture

Called it here

Look out below.  The waterslide is open for business.

 

Mon, 07/23/2012 - 10:17 | 2642378 Neezer
Neezer's picture

"If you made money by shorting the stocks of our nation's top companies, you didn't build that. Somebody else made that happen. The Government made that happen. My economic policy made that happen. It was my gutsy call that made you successful."

-Barry O'blama

Mon, 07/23/2012 - 08:38 | 2642020 new game
new game's picture

ban the can

Mon, 07/23/2012 - 08:46 | 2642059 JackT
JackT's picture

no..just ban the humans, let the robots be free.

Mon, 07/23/2012 - 09:07 | 2642124 GetZeeGold
GetZeeGold's picture

 

 

Calling Skynet right now.

 

Mon, 07/23/2012 - 09:25 | 2642201 Chief_Illiniwek
Chief_Illiniwek's picture

Robots are now "free"?  I'll take two!

What are your hours for pick-up?

Mon, 07/23/2012 - 09:23 | 2642192 Monedas
Monedas's picture

Smacks of manipulation !

Mon, 07/23/2012 - 08:33 | 2642001 SheepRevolution
SheepRevolution's picture

Long Suicidal Pills.

Mon, 07/23/2012 - 11:05 | 2642597 A82EBA
A82EBA's picture

and fire extinguishers

Mon, 07/23/2012 - 08:34 | 2642005 Crisismode
Crisismode's picture

Where is the Euro short-selling ban?

 

 

Mon, 07/23/2012 - 08:36 | 2642010 cossack55
cossack55's picture

Go, plunge, go. But what about the PPT?

Mon, 07/23/2012 - 08:38 | 2642012 Yellowhoard
Yellowhoard's picture

In less discussed news, the Spaniard males will now be forbidden to respond honestly when their wives ask them if their asses look big in some clothes.

Mon, 07/23/2012 - 08:52 | 2642077 Dr. Engali
Dr. Engali's picture

In less discussed news, the Spaniard females will now be forbidden to respond honestly when their husbands ask them if their asses look big in some clothes.

There fixed it.

Mon, 07/23/2012 - 08:38 | 2642019 XtraBullish
XtraBullish's picture

CTRL-P is just around the corner...gold will scream higher as soon as the Germans tell the world that they are collateralizing their bank debt with $5,000 gold.

Mon, 07/23/2012 - 08:39 | 2642022 Temporalist
Temporalist's picture

Come on ZH I expect better than this hyperbole.  This is not a "ban"; this is merely a temporary restricting of undue freedoms by breaking previously held rules for the benefit of "optimists" and to the detriment of "doomers" who know next to little when compared to Herman Van Rompuy and Paul Krugman et al.

Mon, 07/23/2012 - 08:42 | 2642040 Hype Alert
Hype Alert's picture

They're just plugging a loophole.  [/sarc]

Mon, 07/23/2012 - 08:39 | 2642023 txsilverbug
txsilverbug's picture

All they need is for Moochelle Obama to take another US tax payer funded trip to spain to stimulate their economy..

 

Problem solved..

Mon, 07/23/2012 - 09:29 | 2642218 TrainWreck1
TrainWreck1's picture

They are already broke, they don't need a famine on top of everything.

 

Mon, 07/23/2012 - 08:39 | 2642024 q99x2
q99x2's picture

Banksters asking for a rope.

Mon, 07/23/2012 - 08:47 | 2642065 IToldYouSo
IToldYouSo's picture

Sir, I shall gladly and lovingly assist in their request AND I will help them wear it correctly :)

Mon, 07/23/2012 - 09:11 | 2642139 WhyDoesItHurtWh...
WhyDoesItHurtWhen iPee's picture

I have been practising the slip-knot and have some extra rope just for a situation like this.

Mon, 07/23/2012 - 09:36 | 2642237 IToldYouSo
IToldYouSo's picture

thats useful, cos Ive been practicing the half hitch - so I can tie the rope to the lamp post, you can do the loopy bit on the end and we fight to see who puts it over their head :)

Mon, 07/23/2012 - 10:02 | 2642312 WhyDoesItHurtWh...
WhyDoesItHurtWhen iPee's picture

Your on!

Mon, 07/23/2012 - 10:07 | 2642334 Winston Churchill
Winston Churchill's picture

Find another knot.One that works with piano wire.

Mon, 07/23/2012 - 11:23 | 2642678 CCanuck
CCanuck's picture

Sir, I would gladly pay you next Tuesday, for 50ft of Rope today.

Mon, 07/23/2012 - 08:39 | 2642025 Hype Alert
Hype Alert's picture

I guess it will never occur to them that market manipulation is what created this problem.  More of the same, they must be listening to Krugman and Stiglitz.

Mon, 07/23/2012 - 08:40 | 2642027 goat
goat's picture

Amreican citizenism is American

Mon, 07/23/2012 - 08:40 | 2642028 Dr. Engali
Dr. Engali's picture

How many times have they tried this now? Einstein was right when she said: "Insanity is doing the same thing over and over again but expecting different results."

Mon, 07/23/2012 - 09:04 | 2642112 falak pema
falak pema's picture

was Einstein on a multiple orgasm binge when SHE said that?

Mon, 07/23/2012 - 10:55 | 2642557 jez
jez's picture

Urban myth. There is no evidence that Einstein ever said this. Or that he was female.

Mon, 07/23/2012 - 08:40 | 2642030 RobotTrader
RobotTrader's picture

Better start banning short selling on gold, its about to get creamed

Mon, 07/23/2012 - 08:45 | 2642049 TruthInSunshine
TruthInSunshine's picture

RoboTard, we need you to get highly bullish on your paper trade Nasdaq holdings. Really, really bullish...(paper) buying hand over fist.

This will confirm there's a Winners of the New World Death Cross in the making. After all, NASDAQ is the first and best to lead AND bleed.

Did you go all in long Kayak on Friday, bro?

Mon, 07/23/2012 - 10:13 | 2642360 Hedgetard55
Hedgetard55's picture

CMG was his core holding.

Mon, 07/23/2012 - 08:54 | 2642086 DoChenRollingBearing
DoChenRollingBearing's picture

Well timed RobotTrader!  + 1  Au getting slaughtered as I write.

Even though I love gold, I have to admire your recent calls.

On the other hand, it may be a good time to load up on some more while gold is on sale.

Mon, 07/23/2012 - 09:07 | 2642122 DoChenRollingBearing
DoChenRollingBearing's picture

To be fair to my junker, gold is off only 1% or so, Europe (and Dow futures) are down some 2%.

Gold will be good, RobotTrader makes short-term calls that have been spooky-good recently.

Mon, 07/23/2012 - 09:24 | 2642199 Quinvarius
Quinvarius's picture

I don't think being short gold paper gold is wise.  There was a major sell signal a few months ago that did not result in any selling.  The signal was obviously painted, but it did happen.  It was a failed move.  Failed moves turn into fast moves, in the other direction. 

Mon, 07/23/2012 - 09:53 | 2642284 surf0766
surf0766's picture

Only because those calls have been after the trend started. Timing is everything

Mon, 07/23/2012 - 09:08 | 2642126 Quinvarius
Quinvarius's picture

Poor, obnoxious, and stupid is no way to go through life, son.

Mon, 07/23/2012 - 08:40 | 2642031 JohnnyBriefcase
JohnnyBriefcase's picture

I fucking love you guys.

Mon, 07/23/2012 - 08:41 | 2642033 bnbdnb
bnbdnb's picture

Yes, 10 foot dams in 50 foot water. That outta do it.

Mon, 07/23/2012 - 08:41 | 2642037 buzzsaw99
buzzsaw99's picture

It would be funny if it made no perceptible difference. These are not the sellers you are looking for. [/obi wan]

Mon, 07/23/2012 - 08:42 | 2642042 rebelscum1967
rebelscum1967's picture

the link to this just appeared in the SA market currents scroll lmfao...welcome to fight club.

Mon, 07/23/2012 - 08:43 | 2642046 ezcearhoc
ezcearhoc's picture

No sovereign country should be allowed to protect its own economy and people. Foreign speculative investors' profits should come first! What are these regulators thinking?

Mon, 07/23/2012 - 08:49 | 2642070 lizzy36
lizzy36's picture

Well, it would appear that speculators are re-branded investors when the are coming from the long side. 

Let me disavow of the notion that regulators or politicians are protecting their economy or their people. They most certainly are not. The are reaching for another impotent solution, to appear to do something. Even if that something has been proven time and again, to be at best, absolutely useless. 

You think banning short selling is some how going to make banks or countries that have been insolvent for 3 years solvent?

Hey but maybe this time is different. 

Mon, 07/23/2012 - 09:05 | 2642116 nodhannum
nodhannum's picture

Can't wait for the Spanish and/or Italian ban on long buys on the upside, in the interest of protecting the "people" from those foreign speculators of course.

Mon, 07/23/2012 - 09:21 | 2642185 GMadScientist
GMadScientist's picture

Interesting world you live in where there are absolutely zero long specs in the market.

What were these "regulators" thinking...in 2005, 2007, and 2008?

The time when Spain could have protected its economy and people is long past...pretending otherwise won't even delay the inevitable for long anymore.

Do NOT follow this link or you will be banned from the site!