Moments after we reported the announcement of the Italian short-selling ban we had a simple question:
Where is the Spanish short selling ban? They are slacking
— zerohedge (@zerohedge) July 23, 2012 [4]
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.