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Regulation SHO took effect January 3, 2005, and provides a new regulatory framework governing short selling of securities. It was designed with the objective of simplifying and modernizing short sale regulation and providing controls where they are most needed. At the conclusion of each settlement day, data is provided on securities in which: 1) there are at least 10,000 shares in aggregate failed deliveries for the security for five consecutive settlement days, and 2) these failures constitute at least 0.5% of the issuer's total shares outstanding. Regulation SHO mandates that, if a clearing agent has had a fail-to-deliver position for 13 consecutive settlement days, that clearing agent, and the broker/dealer it clears for, must purchase securities to close out its fail to deliver position.
Fairfax Financial Holdings Ltd. (NYSE: FFH | Quote | Chart | News | PowerRating) through its subsidiaries, engages in property and casualty insurance and reinsurance, investment management, and insurance claims management businesses. The company also provides claims adjusting, appraisal, and loss management services. It has operations in Canada, the United States, Singapore, Hong Kong, Bermuda, Barbados, Ireland, and the United Kingdom. The company was founded in 1951. It was formerly known as Markel Service of Canada Limited and changed its name to Markel Financial Holdings Limited. Further, the company changed its name to Fairfax Financial Holdings Limited in 1987. Fairfax Financial Holdings Limited is headquartered in Toronto, Canada. With 18.42 million shares outstanding and 1.17 million shares declared short as of July 2008, the failure to deliver in shares of FFH has not been resolved and a buy-in is imminent. According to quarterly data provided by the SEC, there were still 20,327 shares of FFH that were failing-to-deliver as of September 24, 2007.
Vail Resorts Inc. (NYSE: MTN | Quote | Chart | News | PowerRating) through its subsidiaries, operates mountain resorts in the United States. Its Mountain segment operates five ski resort properties, including Vail Mountain, Breckenridge Mountain, Keystone Resort, and Beaver Creek Resort located in the Colorado Rocky Mountains; and Heavenly Mountain Resort located in the Lake Tahoe area of California/Nevada. These resorts offer various recreational activities, including skiing, snowboarding, snowshoeing, sight-seeing, mountain biking, guided hiking, children's activities, and other recreational activities; ski and snowboard lessons, retail merchandise and equipment rentals, dining venues, and private club operations; real estate brokerage services; and leasing of restaurant, retail, and other commercial space. The company's Lodging segment owns and/or manages a collection of luxury hotels; a destination resort at Grand Teton National Park; six resort golf courses; and various lodging properties. Its Real Estate segment holds, develops, buys, and sells real estate in and around the company's resort communities. Vail Resorts was founded in 1997 and is headquartered in Broomfield, Colorado. With 38.4 million shares outstanding and 5.55 million shares declared short as of July 2008, the failure to deliver in shares of MTN has not been resolved and a buy-in is imminent. According to quarterly data provided by the SEC, there were still 15,378 shares of MTN that were failing-to-deliver as of September 28, 2007.
Accuray Inc. (NASDAQ: ARAY | Quote | Chart | News | PowerRating) designs, develops, and sells the CyberKnife system, an image-guided robotic radio surgery system for the treatment of solid tumors. The CyberKnife system combines continuous image-guidance technology with a compact linear accelerator to deliver high doses of radiation to a tumor from different directions. It tracks, detects, and corrects for tumor and patient movement in real-time during the treatment. This system allows doses of radiation to be delivered from any direction and position; generates X-ray images to determine the location of bony landmarks or implanted fiducials; and exchanges secondary collimators, which determine the radiation beam size, during the treatment. CyberKnife system also enables diagnostic quality 3D and 4D patient imaging prior to treatment, and a treatment planning system for radio surgery; moves the archive and restore processes from the treatment delivery workstation to an independent archiving system; and allows physicians to combine and contour diagnostic images, as well as review potential treatment plans. The company markets its product through a direct sales force in the United States and a combination of direct sales personnel and distributors in Europe and Asia. Accuray Incorporated was founded in 1990 and is headquartered in Sunnyvale, California. With 54.42 million shares outstanding and 8.25 million shares declared short as of July 2008, the failure to deliver in shares of ARAY has not been resolved and a buy-in is imminent. According to quarterly data provided by the SEC, there were still 77,608 shares of ARAY that were failing-to-deliver as of September 17, 2007.
Green Mountain Coffee Roasters Inc. (NASDAQ: GMCR | Quote | Chart | News | PowerRating) through its subsidiaries, engages in roasting, packaging, and distributing roasted coffee primarily in the northeastern United States. It sells approximately 100 whole bean and ground coffee selections, hot cocoa, teas, and coffees. The company offers Arabica coffees and coffee selections, including single-origins, estates, certified organics, Fair Trade Certified, proprietary blends, and flavored coffees under the ?Green Mountain Coffee Roasters' and Newman's Own Organics brands. Green Mountain Coffee Roasters sells coffee to retailers, including supermarkets; convenience stores; specialty stores; food service enterprises, including restaurants, hotels, universities, and business offices; and directly to individual consumers. In addition, it manufactures gourmet single-cup brewing systems and markets its patented single-cup coffee and tea brewing systems for the office and the home under the Keurig brand name. The company was founded in 1981 as Green Mountain Coffee Inc. and changed its name in 2003. Green Mountain Coffee is headquartered in Waterbury, Vermont. With 24 million shares outstanding and 8.55 million shares declared short as of July 2008, the failure to deliver in shares of GMCR has not been resolved and a buy-in is imminent. According to quarterly data provided by the SEC, there were still 30,588 shares of GMCR that were failing-to-deliver as of September 18, 2007.
Harbin Electric Inc. (NASDAQ: HRBN | Quote | Chart | News | PowerRating) develops, engineers, manufactures, and sells customized linear motors, motor/controller automation systems, automobile specialty micro-motors, and other special motors. The company's products principally include flat linear asynchronous motor series and flat three-phase linear asynchronous motors used in transmission systems as the production transportation line, the crane, postal service sorting machine, baggage sorting machine, printed matter sorting machine, automatic linear door, and revolving door applications. Its integrated linear motor systems are used in oil services, factory automation, packaging, logistic systems, food industry, and mass transportation industry for the production transportation conveyor line, postal service sorting machine, baggage sorting machine, printed matter sorting machine, food and meat slicer, oil pump machine of oilfield, automated power switch, and urban mass transportation linear motor driven railway systems. The company's automobile specialty micro-motors are used for various automation functions in automobiles, which include car seat automation, back seat folding, electric power steering, automated window, and automated trunk opening. It serves customers in the People's Republic of China and internationally. The company is headquartered in Harbin, the People's Republic of China. With 18.37 million shares outstanding and 996,000 shares declared short as of July 2008, the failure to deliver in shares of HRBN has not been resolved and a buy-in is imminent. According to quarterly data provided by the SEC, there were still 117,519 shares of HRBN that were failing-to-deliver as of September 28, 2007.
TEL Offshore Trust (NASDAQ: TELOZ | Quote | Chart | News | PowerRating) owns interest in the TEL Offshore Trust Partnership (Partnership). It owns royalty interests in various oil and gas properties located offshore Louisiana. As of October 31, 2007, the Partnership's reserves comprised 442,004 barrels of oil and condensate; and 2,217,654 thousands of cubic feet of natural gas. TEL Offshore Trust was founded in 1983 and is based in Austin, Texas. With 4.75 million shares outstanding and 100,700 shares declared short as of July 2008, the failure to deliver in shares of TELOZ has not been resolved and a buy-in is imminent.
About BUYINS.NET
WWW.BUYINS.NET is a service designed to help bonafide shareholders of publicly traded US companies fight naked short selling. Naked short selling is the illegal act of short selling a stock when no affirmative determination has been made to locate shares of the stock to hypothecate in connection with the short sale. Buyins.net has built a proprietary database that uses Threshold list feeds from NASDAQ, AMEX and NYSE to generate detailed and useful information to combat the naked short selling problem. For the first time, actual trade by trade data is available to the public that shows the attempted size, actual size, price and average value of short sales in stocks that have been shorted and naked shorted. This information is valuable in determining the precise point at which short sellers go out-of-the-money and start losing on their short and naked short trades.
BUYINS.NET has built a massive database that collects, analyzes and publishes a proprietary SqueezeTrigger for each stock that has been shorted, www.buyins.net/squeezetrigger.pdf. The SqueezeTrigger database of nearly 2,100,000,000 short sale transactions goes back to January 1, 2005, and calculates the exact price at which the Total Short Interest is short in each stock. This data was never before available prior to January 1, 2005, because the Self Regulatory Organizations (primary exchanges) guarded it aggressively. After the SEC passed Regulation SHO, exchanges were forced to allow data processors like Buyins.net to access the data.
The SqueezeTrigger database collects individual short trade data on over 7,000 NYSE, AMEX and NASDAQ stocks and general short trade data on nearly 8,000 OTCBB and PINKSHEET stocks. Each month the database grows by approximately 50,000,000 short sale transactions and provides investors with the knowledge necessary to time when to buy and sell stocks with outstanding short positions. By tracking the size and price of each month's short transactions, BUYINS.NET provides institutions, traders, analysts, journalists and individual investors the exact price point where short sellers start losing money.
All material herein was prepared by BUYINS.NET, based upon information believed to be reliable. The information contained herein is not guaranteed by BUYINS.NET to be accurate, and should not be considered to be all-inclusive. The companies that are discussed in this opinion have not approved the statements made in this opinion. This opinion contains forward-looking statements that involve risks and uncertainties. This material is for informational purposes only and should not be construed as an offer or solicitation of an offer to buy or sell securities. BUYINS.NET is not a licensed broker, broker dealer, market maker, investment banker, investment advisor, analyst or underwriter. Please consult a broker before purchasing or selling any securities viewed on or mentioned herein. BUYINS.NET may receive compensation in cash or shares from independent third parties or from the companies mentioned.
BUYINS.NET affiliates, officers, directors and employees may also have bought or may buy the shares discussed in this opinion and may profit in the event those shares rise in value. Market commentary provided by Thomas Ronk.
BUYINS.NET will not advise as to when it decides to sell and does not and will not offer any opinion as to when others should sell; each investor must make that decision based on his or her judgment of the market.
This release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. "Forward-looking statements" describe future expectations, plans, results, or strategies and are generally preceded by words such as "may", "future", "plan" or "planned", "will" or "should", "expected," "anticipates", "draft", "eventually" or "projected". You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements as a result of various factors, and other risks identified in a companies' annual report on Form 10-K or 10-KSB and other filings made by such company with the Securities and Exchange Commission.
You should consider these factors in evaluating the forward-looking statements included herein, and not place undue reliance on such statements. The forward-looking statements in this release are made as of the date hereof and BUYINS.NET undertakes no obligation to update such statements.
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