From reading your thread on the REG SHO list, it would seem that one is not allowed to short BRLC. But I recently see moves that seem to be from shorting. Is this just further illegal naked shorting ?
Using Fib retracement and cup-handle thesis, the target price would be right at 16.5. However, the naked shorting concerns me and is probably the reason behind the obvious descending triangle on the chart.
on 3/2 Kramer went neg on BRLC. Cramer was bearish on Qualcomm, Syntax-Brillian, and Aqua America. Now a week or so later he's already flipped on QCOM. Just released some sets into Japan...
Go to the Bloomberg Video. Watch Chanos throw the Prime Brokers under the bus. Yes. They are probably still naked shorting this, because they have to. What they do is kite the stock, like EF Hutton used to kite checks. They are playing musical chairs. They pass the fails around, which keeps the 13 day thing in limbo. I sell to you, and when delivery is mandated, somebody sells to me. And so on. If the settlement is off a bit, we make it up among ourselves. By keeping the ball int he air, the company may eventually make a mistake. i'm a Hedgie, all the newspaper guys love me, and they smash the thing in the press which brings in more selling. Go look at some of Seth Jayson's slop at Motley Fool. He's one of them. Gary Weiss, Roddy Boyd, Carol Remond, Jesse at the WSJ, John Eshmuller was a pal of Elgindy. Only handcuffs. By the way, they are crying in PPD. If you see Herb Greenberg stuffing a stock on CNBc, and that stock is a show stock, watch out. They can really hurt you.
Well guys it's S time or get off the pot. Rollout any day at Target I've been calling all the time. Found this research note to Topdown> Baird out with an interesting note on Syntax-Brillian (NASDAQ:BRLC), saying that per their checks, Target stores will start rolling out Olevia TVs within the next two weeks. Some stores already have models on display, while others have them in stock, ready to display in the near future. Firm's checks indicate Target will sell 32-, 37-, and 42-inch models, with the majority of stores carrying 32- and/or 37-inch models. Firm expects the Target rollout to be mostly complete in 2Q. Firm views it as incrementally positive for Syntax-Brillian, as the company continues to execute on its strategy to expand retail distribution in the U.S., Asia, and Europe.......
TOPD! It's just a weird stock. I'm not a suspicious guy by nature but.... something is holding this back. Might have correct and replace with REFR!
In case anybody else was wondering why it tanked today: From Arizona Republic: [size=1.75]Valley & state business briefs Mar. 21, 2007 12:00 AM HDTV maker will fight foreign patent lawsuit Syntax-Brillian Corp. says it will fight a patent infringement lawsuit filed against it last week. The Tempe-based maker of high-definition televisions was one of three firms named in the suit, which Japanese TV maker Funai Electric filed in U.S. District Court. Funai claims Syntax-Brillian and TV makers Vizio and Petters Group Worldwide infringed on technology it licenses for use in TV tuners. "Our technical guys took a look at this technology even before we got the lawsuit served on us," said Wayne Pratt, executive vice president and chief financial officer of Syntax-Brillian. "Based on what our technology staff looked at, Funai's claims are without merit, so . . . we're going to defend this thing vigorously." The technology is used in tuner chips that Syntax-Brillian purchases from its suppliers, Pratt said.[/size] It sounds like frivolous BS and likely Funai is just pissed that BRLC is starting to play in their back-yard (Japan). Funai filed a similar suite against other companies in January and there are already counter-suits filed against them. The tuners are cheap, there is no "magic" to Funai's particular tuner, BRLC doesn't even make them (they are purchased from outside suppliers) and if necessary could buy them from a variety of manufacturers. That said, this trade is dead. Big money will likely stay away until this is settled. I purchased (this time) as a long term hold (in IRA), so I'll just be watching to see if the gap to 6.58 gets filled - that's where I'll be looking to double up.