Why Bio-Reference Laboratories Is A Dangerous Investment [View article]
Since the Streetsweepers last slam against BRLI, the stock took a little dip down to 23.60 and by the end of April it was above 25 and has moved like "steady freddie" right back to where it was on 12/31/12. I used to be a heavy owner of this company and I've listened to every analyst call and company presentation and the company appears to be conservative. In the fourth quarter of 2012 I decided I had to move out of the stock because of the high and rising short interest. This stocks short interest had doubled in about 6 months and at the top the shorts had 37% of the shares outstanding. The way I saw it was that the stock was dangerous if you were long and horrendously dangerous if you were short because the founder and CEO, Dr Grodman was about 60 yrs old and might sell the company and the shorts could get slaughtered. I also noticed that large institutional holders had reduced positions last year and they seemed to think that the position was too rich for them. All this information can be found in the filings with the SEC on 13F reports. I had a few conversations with a member of senior management at the company about the rising short interest and he told me that the company did not want to do anything to discourage the shorts except continue to execute successfully and would not complain to the SEC or bring a lawsuit which could be protracted and expensive. I still think the best position in this stock is no position and over the past six months I have redeployed my allocation in health care in biotech equipment, biotech discovery companies and pharma and I've done well since January. I don't miss the anxiety of holding Bio-Reference.
5 Reasons Why Bio-Reference Laboratories Is A Solid Stock [View article]
Jae Jun, Bio-Ref has 27.7 million shares outstanding and as of the last short interest report it has close to 10 million shares that have been sold short. The company says these short sellers are by and large hedge funds that have bought some Kool Aid from a financial blog called thestreetsweepers.org (which is financed by hedge funds!) and they slammed BRLI twice this year and also slammed the company twice in the fall of 2011 which sent the stock down to $11.41 from $21. Today, the Fly on the Wall website reported that there is a "whistle blower lawsuit" pending against the company and this report knocked the stock down 8% shortly after the opening. I appreciate your thorough fundamental analysis since this stock was a real favorite of mine before the end of 2012, but as a professional investor with a decent grasp of what the company is doing with esoteric testing, I became frustrated with the stock's performance and ended up selling out of my clients' positions because of the rising short interest in 2012. The short interest rise in 2012 was the same rate of climb as the short interest climb from February 2011 to the first week November of 2011. Two weeks before the first streetsweeper.org two part article hit the internet, I e-mailed Dr Grodman the CEO of Bio-Ref warning him that the short interest had climbed to about 7.5 million shares and this was a very high ratio to the shares outstanding and that an article in Barron's implying there was Mafia money financing the company early in the company's history and there were still people in the company that were suspect. Well, he forwarded it to someone in investor's relations and it got lost in a paper shuffle and thrown into a "to do list" in investor relations. At the time of the "bomb" was dropped, I was on the west cost at a seminar for RIA's and I did not return to my office until the following week and I e-mailed the CEO that I thought whoever was behind the streetsweepers could be guilty of the SEC Act of 1934 when it came to bear raiding. The company did take one of my suggestions and announce a "buy back" but thought a litigation by the company would be long and expensive and that the company's investment in esoteric genetic testing should boost sales earnings and other fundamental measurements in 2012 would cause the stock to rise and shorts would be forced to cover. The company's numbers did rise and the stock ran to a 32.86 high from an $11.41 low. I was able to buy a nice block between 12.60-12.90 and more at 15 and 17 and I sold it all at a average price above 29. I was happy with the profit but on a pure fundamental basis, I felt that I was being cheated by the hedge funds since I thought the stock could be $50 before the end of 2015 or it would be bought out by a large healthcare company. It was the rise in short interest which doubled from April to December was enough for me because I'm not a pure fundamentalist nor a pure technician and to me the technicals looked like they did in 2011 before the streetscammers raid n the company! The raid this past year didn't work for the shorts because the company reported financials that were better than the analysts' estimates and the company had been warned unwittingly by the author of the street sweeper's creator and was able to get their financials out a week earlier than scheduled and then followed up with changing to a new financial accounting standard and said that it would have no effect on their numbers. So, the stock recovered back to 30. The only problem is the short interest is still there at 9,762,000 shares as of March 28 and based on the past 30 days average volume it would take the shorts 42 days to buy back their 9,762,000 shares back. If you and I are correct on the fundamentals and this company isn't the Bio-Reference Testing and Olive Oil and Pasta Company there should be a point when all the "Wells Noticed" hedge funds will be forced to write those 'Buys to Cover Short" orders!
Full disclosure comment. I have no positions in Bio-Reference, neither am I short or hold any derivatives for clients nor for myself and family.
Yes, Trinity looks terrific! I read the CEO's letter to shareholders in their latest annual report and it looks like they have two years of all the business they can handle. Another stock in this rail equipment group is the old Westinghouse Air Brake Company, now called WABTEC (symbol WAB) that in addition to air brakes makes high technology safety equipment for the railrods and for subway systems. Both of these stocks have been doing well for the past six months and I have no idea which will outperform over the next six months but Trinity has the lower PE at 14 vs WAB at 19. However WAB has an ROE at 21 & an ROA 10.83% while TRN's ROE is 12.79% with an ROA of 3.98%. So it is really not comparing apple to apples but WAB has a slightly better evaluation when you divide the PE by the ROE. It's a horse rate for sure. I am long both TRN and WAB.
Coinstar: The Cheaper Alternative To Netflix [View article]
Tuliptown: The stock has been public for many years and 10 years ago the CSTR traded in the low teens and really didn't get explosive until 2010 when the Red Boxes began showing up at grocery stores, Mickey-D's and large retailers such as Walgreen and Walmart. The management had lots of stock and options. Yes, the management has been selling since the stock exploded from 30 to 70 over the past 3 years, but what would you do if 95% of your net worth was tied up in the company that also gives you a monthly paycheck.? I don't think we have to worry about what will happen in 3-4 years out since most analyst only project out 2 years and those two year projections for most companies are for the most part fantasies that are rarely spot on. This company has reinvented themselves from a business that sold mechanical coin counters to banks and commercial enterprises into an inexpensive movie rental business very successfully and now they are vending numerous other products besides DVD's. I would say the management has pretty good business sense over the past decade. Technically, the stock looks great for swing traders with a big saucer shaped July 2012 top to a late Oct 2012 bottom at 40.50 followed by an uptrend to 50 this past month. On March 20th the stock's 90 day moving average crossed the 20 M.A. and today it broke out above the 57 level and might move to up to 60.11 where it will fill the July 2012 downside gap. At 58.50 today (+$2) I think my analysis is correct. Trading stocks is a gamble, anything can happen, but when you think of it, this management has made good business decisions and they are certainly aware of what happened to Blockbuster with Netflicks and the soon to be announced Apple/Google/Samsung smart TVs that can deliver movie content. However, these products are expensive and with 47% of the population paying no income tax, this country's getting poorer than it has been since the 1930's. I have a fancy Samsung big screen TV with Uverse. The TV cost me about $1000 and Uverse monthly fee is 325/month. The new systems will cost even more. Compare this to the Red Box service of a buck & change to rent a movie I don't think that 75% of the country's families can afford the new products that will be on the market in the next couple of years, so the conventional wisdom of Red Box going the way of Blockbuster is valid any time soon. I would hate to own a movie theater with the cost of $7.50 per ticket when I can rent for the entire family for $1.29! If the market holds together from here, CSTR could be back above $70 or 20%.
As leaked earlier the State Department's assessment (full report) of TransCanada's (TRP) Keystone pipeline project finds little to criticize as far as environmental impact, calling it "very unlikely" any releases would affect groundwater quality. The report also doesn't see much climate impact nor "significant adverse" impact on Canada's environment. There's now a 45-day comment period and then things move to the White House. [View news story]
Me thinks BNSF is an east-west line, not a north-south line and that's why Kansas City Southern has been going parabolic in the past several months. KSU also has more than a thousand miles of track extending into Mexico which has a huge trade surplus with the USA since many manufactures are finding it cheaper to operate in Mexico than in Asia.
A Look Into The New And Improved Amazon.com Estimates [View article]
Paulo the Navigator If I were the 21st Century King of Portugal and knew Paulo Santos record on AMZN, I would bequeath on him the title "Paulo the Navigator" for his ability to navigate the mighty Amazon. Unfortunately, he doesn't seem to ever know which way the current flows and wastes time explaining why everyone else is wrong. He is correct to say that bubbles can't last forever but I've seen many times that bubbles can out last a man's money even if you hedge since no hedge is perfect, especially for a stock that can swings often 10-20 points in a day. My advice is don't buy/don't sell and if you can't stay away from Amazon, better join Gamblers Anonymous.
The cult of the Amazonian bulls triumphed again in the extended market closing at the all time high. You bears out there should find another stock instead of the helium filled Amazon. Even if this bad boy committed accounting fraud I think it would make another new high! Too many righteous bears applying Graham and Dodd fundamentals and shorting this stock. When you guys make your final margin call, then it will go down!
7 Undervalued, Highly Shorted Stocks With Strong Sources Of Profitability [View article]
JNJ is getting into clinical lab business according to Bloomberg News. What does this mean for Bio-Reference? I noticed the stock of BRLI broke above $30 today on the opening and has held above $30 despite general market weakness. BRLI has shown resistance's at 30 for the last 3 months despite the general market making new highs. Could some of the shorts be covering on the JNJ announcement? Both companies know each other and are both headquartered close to each other. The short position in BRLI is huge.
Amazon: Conflict Of Interest Rears Its Ugly Head [View article]
Paulo says: "Thing is, it's quite hard if not impossible to find situations clearer than AMZN..." If it is so damned clear why has your bearish position not worked for you? At this point you remind me of the man who has played the same number on a roulette wheel for 72 hours. He has lost every turn of the wheel and can't bring himself to quit since he knows the moment he does his number will be the winner! The problem is not the wheel it's his logic that has caused him to lose a very large amount of his savings and he knows the number will eventually come up in time and has already played the game 2160 times in the 72 hours without a win. What he does not realize is the odds are 38 to 1 each time the wheel is turned and because of the randomness he might actually run out of money before his number finally comes up a winner. There is a time when you have to pick up your chips and go on to another game of chance or you may actually run out of money or die at the table.
The other thing I would point out is there are other opportunities out there in the market that are very richly valued that you are not focusing on because you are fixated on Amazon. You have to admit that there must be something wrong with your logic on this issue. And, if you can't do that then I would say that there is a personality flaw that will lead you to financial suicide just like all the gamblers and most of the speculators in history that never learned when it was time to quit. I am sorry about that. Currently, I have no position in Amazon. I'm giving it a rest.
As the rig count "fell off a cliff" last month, oilfield services firms (OIH) have resigned themselves to dismal Q4 earnings, and Schlumberger (SLB) and Baker Hughes (BHI) have tried to prepare investors for the blow. With the market for services still oversupplied, analysts say the North American land drilling recovery will take time to work through, but 2013 should prove less gloomy as the year progresses. [View news story]
Rig count cliff. SLB can weather the storm because of deep pockets. SDRL: "Houston we have a problem".
Amazon: Conflict Of Interest Rears Its Ugly Head [View article]
Paulo, Actually, Mr Krieger has made my point. Thank you Mr. Krieger! You may ultimately win the war with your pure fundamental analysis, but you are losing some very big battles and a lot of money fighting the technical trend of AMZN over the last 18 months. You remind me of the British and French during the early years of World War 1 that tried to defeat Germany with cavalry charges against dug in German positions that were defended by machine guns, mortars and artillery. It is true that the allied forces won the war but it was a pyrrhic victory since in the end millions of men were dead and all the combatant countries were financially broke. You must understand that you can't fight in this market using the tactics of the last war. You are exhausting your own treasure being net short when the technical trend of Amazon has been up. So I take fundamental analysis and technical analysis and combine them to become what I call Rational Analysis. However, one word of caution, find another stock since you are too emotionally involved in Amazon for you to play in that particular stock.
Amazon: Conflict Of Interest Rears Its Ugly Head [View article]
Santos Your opinion is NOT driven by your opinion! It is driven by your Short Position! So quit acting like a pious moralist. You are no better or worse than the brokers and analysts who you are demonising. The really humorous part of your position is that you have been WRONG and can't get any respect for your lack of flexibility about your Amazon position. I have a theory on religious fundamentalists that I think applies to your financial fundamentalist position. Religious fundamentalist keep the faith but they are too damned stupid for discussion. EOM I have no position in Amazon since I sold it recently at a fat profit and you haven't seen a fat profit since the stock gapped up in April of last year.
Didn't I just read a few days ago that George Soros purchased 260,000 shares of Amazon making it one of Soros' top ten holdings. He has a record of being brilliant. So who are we to believe Santos or Soros?
Jeff, Thanks for the breakdown on SDRL. The "rig utilization rate" becomes very important to the company's future when it is so highly leveraged. Last quarter the company was moving rigs around the globe and there was a disappointment in earnings per share. I would not want to own this company if the rig utilization rate were to decrease 15-20% as it did in 2008-2009. In other words, the distribution rate to shareholders only gives us half the story since the rig count can swing broadly in a 12 month period. Of course, when the "rig count" drops it also reduces the per diem rates on new contracts since there are too many rigs chasing too few drillers. This stock is a long odds bet and shouldn't be considered for retirees who can't afford to lose a lot of their capital.
Bio-Reference Labs: Stand-Out Stock With High-Growth Potential [View article]
ICT Optimist, In regards to Bio-Reference Labs. I don't know if you realize it, but Bio-Ref has an EXTEMELY high short interest as of the last short interest report. As of Nov. 30th, there was 9.1 million shares of BRLI sold short. BRLI has only 27.7 million shares outstanding. It is possible that the reason for some of the high shot interest was because of the hurricane. Since the comkpany reported that it met the consensus earnings for the quarter, despite the big weather event, the stock took a nice pop to the upside and may go higher because short sellers eventually have to buy back the stock that they dropped into the market to create the shot sales. 9.1 million shares purchased could create a huge rally that could send the stock above 35 or more. The next short interest report will be reported on about Dec. 17th. If short interest doesn't drop on that report, the shorts could get squeezed and that could cause a sharp rally. Shorts in taxable accounts that have any profit at all will want to cover before Dec 31 becuase of the change in tax rates in the new year.
Why Bio-Reference Laboratories Is A Dangerous Investment [View article]
I used to be a heavy owner of this company and I've listened to every analyst call and company presentation and the company appears to be conservative. In the fourth quarter of 2012 I decided I had to move out of the stock because of the high and rising short interest. This stocks short interest had doubled in about 6 months and at the top the shorts had 37% of the shares outstanding. The way I saw it was that the stock was dangerous if you were long and horrendously dangerous if you were short because the founder and CEO, Dr Grodman was about 60 yrs old and might sell the company and the shorts could get slaughtered. I also noticed that large institutional holders had reduced positions last year and they seemed to think that the position was too rich for them. All this information can be found in the filings with the SEC on 13F reports.
I had a few conversations with a member of senior management at the company about the rising short interest and he told me that the company did not want to do anything to discourage the shorts except continue to execute successfully and would not complain to the SEC or bring a lawsuit which could be protracted and expensive.
I still think the best position in this stock is no position and over the past six months I have redeployed my allocation in health care in biotech equipment, biotech discovery companies and pharma and I've done well since January.
I don't miss the anxiety of holding Bio-Reference.
5 Reasons Why Bio-Reference Laboratories Is A Solid Stock [View article]
Bio-Ref has 27.7 million shares outstanding and as of the last short
interest report it has close to 10 million shares that have been sold short. The company says these short sellers are by and large hedge funds that have bought some Kool Aid from a financial blog called thestreetsweepers.org (which is financed by hedge funds!) and they slammed BRLI twice this year and also slammed the company twice in the fall of 2011 which sent the stock down to $11.41 from $21. Today, the Fly on the Wall website reported that there is a "whistle blower lawsuit" pending against the company and this report knocked the stock down 8% shortly after the opening.
I appreciate your thorough fundamental analysis since this stock was a real favorite of mine before the end of 2012, but as a professional investor with a decent grasp of what the company is doing with esoteric testing, I became frustrated with the stock's performance and ended up selling out of my clients' positions because of the rising short interest in 2012. The short interest rise in 2012 was the same rate of climb as the short interest climb from February 2011 to the first week November of 2011. Two weeks before the first streetsweeper.org two part article hit the internet, I e-mailed Dr Grodman the CEO of Bio-Ref warning him that the short interest had climbed to about 7.5 million shares and this was a very high ratio to the shares outstanding and that an article in Barron's implying there was Mafia money financing the company early in the company's history and there were still people in the company that were suspect. Well, he forwarded it to someone in investor's relations and it got lost in a paper shuffle and thrown into a "to do list" in investor relations. At the time of the "bomb" was dropped, I was on the west cost at a seminar for RIA's and I did not return to my office until the following week and I e-mailed the CEO that I thought whoever was behind the streetsweepers could be guilty of the SEC Act of 1934 when it came to bear raiding. The company did take one of my suggestions and announce a "buy back" but thought a litigation by the company would be long and expensive and that the company's investment in esoteric genetic testing should boost sales earnings and other fundamental measurements in 2012 would cause the stock to rise and shorts would be forced to cover. The company's numbers did rise and the stock ran to a 32.86 high from an $11.41 low. I was able to buy a nice block between 12.60-12.90 and more at 15 and 17 and I sold it all at a average price above 29. I was happy with the profit but on a pure fundamental basis, I felt that I was being cheated by the hedge funds since I thought the stock could be $50 before the end of 2015 or it would be bought out by a large healthcare company. It was the rise in short interest which doubled from April to December was enough for me because I'm not a pure fundamentalist nor a pure technician and to me the technicals looked like they did in 2011 before the streetscammers raid n the company! The raid this past year didn't work for the shorts because the company reported financials that were better than the analysts' estimates and the company had been warned unwittingly by the author of the street sweeper's creator and was able to get their financials out a week earlier than scheduled and then followed up with changing to a new
financial accounting standard and said that it would have no effect on their numbers. So, the stock recovered back to 30. The only problem is the short interest is still there at 9,762,000 shares as of March 28 and based on the past 30 days average volume it would take the shorts 42 days to buy back their 9,762,000 shares back.
If you and I are correct on the fundamentals and this company isn't the Bio-Reference Testing and Olive Oil and Pasta Company there should be a point when all the "Wells Noticed" hedge funds will be forced to write those 'Buys to Cover Short" orders!
Full disclosure comment. I have no positions in Bio-Reference, neither am I short or hold any derivatives for clients nor for myself and family.
Rail Expansion: Trinity Industries [View article]
I am long both TRN and WAB.
Coinstar: The Cheaper Alternative To Netflix [View article]
The stock has been public for many years and 10 years ago the CSTR traded in the low teens and really didn't get explosive until 2010 when the Red Boxes began showing up at grocery stores, Mickey-D's
and large retailers such as Walgreen and Walmart. The management had lots of stock and options. Yes, the management has been selling since the stock exploded from 30 to 70 over the past 3 years, but what would you do if 95% of your net worth was tied up in the company that also gives you a monthly paycheck.?
I don't think we have to worry about what will happen in 3-4 years out since most analyst only project out 2 years and those two year projections for most companies are for the most part fantasies that are rarely spot on.
This company has reinvented themselves from a business that sold mechanical coin counters to banks and commercial enterprises into an inexpensive movie rental business very successfully and now they are vending numerous other products besides DVD's. I would say the management has pretty good business sense over the past decade.
Technically, the stock looks great for swing traders with a big saucer shaped July 2012 top to a late Oct 2012 bottom at 40.50 followed by an uptrend to 50 this past month. On March 20th the stock's 90 day moving average crossed the 20 M.A. and today it broke out above the 57 level and might move to up to 60.11 where it will fill the July 2012 downside gap. At 58.50 today (+$2) I think my analysis is correct. Trading stocks is a gamble, anything can happen, but when you think of it, this management has made good business decisions and they are certainly aware of what happened to Blockbuster with Netflicks and the soon to be announced Apple/Google/Samsung smart TVs that can deliver movie content.
However, these products are expensive and with 47% of the population paying no income tax, this country's getting poorer than it has been since the 1930's. I have a fancy Samsung big screen TV with Uverse. The TV cost me about $1000 and Uverse monthly fee is 325/month. The new systems will cost even more. Compare this to the Red Box service of a buck & change to rent a movie I don't think that 75% of the country's families can afford the new products that will be on the market in the next couple of years, so the conventional wisdom of Red Box going the way of Blockbuster is valid any time soon. I would hate to own a movie theater with the cost of $7.50 per ticket when I can rent for the entire family for $1.29! If the market holds together from here, CSTR could be back above $70 or 20%.
As leaked earlier the State Department's assessment (full report) of TransCanada's (TRP) Keystone pipeline project finds little to criticize as far as environmental impact, calling it "very unlikely" any releases would affect groundwater quality. The report also doesn't see much climate impact nor "significant adverse" impact on Canada's environment. There's now a 45-day comment period and then things move to the White House. [View news story]
extending into Mexico which has a huge trade surplus with the USA since many manufactures are finding it cheaper to operate in Mexico than in Asia.
A Look Into The New And Improved Amazon.com Estimates [View article]
If I were the 21st Century King of Portugal and knew Paulo Santos record on AMZN, I would bequeath on him the title "Paulo the Navigator" for his ability to navigate the mighty Amazon. Unfortunately, he doesn't seem to ever know which way the current flows and wastes time explaining why everyone else is wrong. He is correct to say that bubbles can't last forever but I've seen many times that bubbles can out last a man's money even if you hedge since no hedge is perfect, especially for a stock that can swings often 10-20 points in a day.
My advice is don't buy/don't sell and if you can't stay away from Amazon, better join Gamblers Anonymous.
How Far Will Amazon Roll Over? [View article]
margin call, then it will go down!
7 Undervalued, Highly Shorted Stocks With Strong Sources Of Profitability [View article]
What does this mean for Bio-Reference? I noticed the stock of BRLI broke above $30 today on the opening and has held above $30 despite general market weakness. BRLI has shown resistance's at 30 for the last 3 months despite the general market making new highs. Could some of the shorts be covering on the JNJ announcement? Both companies know each other and are both headquartered close to each other. The short position in BRLI is huge.
Amazon: Conflict Of Interest Rears Its Ugly Head [View article]
without a win. What he does not realize is the odds are 38 to 1 each time the wheel is turned and because of the randomness he might actually run out of money before his number finally comes up a winner. There is a time when you have to pick up your chips and go on to another game of chance or you may actually run out of money or die at the table.
The other thing I would point out is there are other opportunities out there in the market that are very richly valued that you are not focusing on because you are fixated on Amazon. You have to admit that there must be something wrong with your logic on this issue. And, if you can't do that then I would say that there is a personality
flaw that will lead you to financial suicide just like all the gamblers and most of the speculators in history that never learned when it was time to quit. I am sorry about that.
Currently, I have no position in Amazon. I'm giving it a rest.
As the rig count "fell off a cliff" last month, oilfield services firms (OIH) have resigned themselves to dismal Q4 earnings, and Schlumberger (SLB) and Baker Hughes (BHI) have tried to prepare investors for the blow. With the market for services still oversupplied, analysts say the North American land drilling recovery will take time to work through, but 2013 should prove less gloomy as the year progresses. [View news story]
SDRL: "Houston we have a problem".
Amazon: Conflict Of Interest Rears Its Ugly Head [View article]
Amazon: Conflict Of Interest Rears Its Ugly Head [View article]
Your opinion is NOT driven by your opinion! It is driven by your Short Position! So quit acting like a pious moralist. You are no better or worse than the brokers and analysts who you are demonising. The really humorous part of your position is that you have been WRONG and can't get any respect for your lack of flexibility about your Amazon position. I have a theory on religious fundamentalists that I think applies to your financial fundamentalist position. Religious fundamentalist keep the faith but they are too damned stupid for discussion. EOM
I have no position in Amazon since I sold it recently at a fat profit and you haven't seen a fat profit since the stock gapped up in April of last year.
Amazon.com Might Be Running Light [View article]
shares of Amazon making it one of Soros' top ten holdings. He has a record of being brilliant. So who are we to believe Santos or Soros?
Analyzing Seadrill's Debt And Risk [View article]
Thanks for the breakdown on SDRL. The "rig utilization rate" becomes very important to the company's future when it is so highly leveraged.
Last quarter the company was moving rigs around the globe and there was a disappointment in earnings per share. I would not want to own this company if the rig utilization rate were to decrease 15-20% as it did in 2008-2009. In other words, the distribution rate to shareholders only gives us half the story since the rig count can swing broadly in a 12 month period. Of course, when the "rig count"
drops it also reduces the per diem rates on new contracts since there are too many rigs chasing too few drillers. This stock is a long odds bet and shouldn't be considered for retirees who can't afford to lose a lot of their capital.
Bio-Reference Labs: Stand-Out Stock With High-Growth Potential [View article]
In regards to Bio-Reference Labs. I don't know if you realize it, but Bio-Ref has an EXTEMELY high short interest as of the last short interest report. As of Nov. 30th, there was 9.1 million shares of BRLI sold short. BRLI has only 27.7 million shares outstanding. It is possible that the reason for some of the high shot interest was because of the hurricane. Since the comkpany reported that it
met the consensus earnings for the quarter, despite the big weather
event, the stock took a nice pop to the upside and may go higher because short sellers eventually have to buy back the stock that they dropped into the market to create the shot sales. 9.1 million shares purchased could create a huge rally that could send the stock above 35 or more. The next short interest report will be reported on about Dec. 17th. If short interest doesn't drop on that report, the shorts could get squeezed and that could cause a sharp rally. Shorts in taxable accounts that have any profit at all will want to cover before Dec 31 becuase of the change in tax rates in the new year.