Got Religion?

Got Religion? Well 41% of the people are actually short on True Religion. I think that works out to about 6 million shares. What does that mean? The average daily volume is 450,000 shares. So it'd take about 14 days for the shorts to buy back all their shares. Looking at the past couple days, I'd say some shorts are getting a "wee" bit nervous. It takes just a "little" thought to understand why the shorts are chewing on their fingernails. TRLG has gone from $15.31 to $17.80 since we rung in 2007.

I hold TRLG in my MFI portfolio, and I have a 2nd clump in my sidecar. I am not quite ready to pull the trigger on the sidecar holding, but it is getting tempting. On the other hand, it has only been two days since the sharp rise has occurred and it'll take 14 days for shorts to extricate themselves. Any good news and the stock will shoot to $20.

Sadly, besides TRLG I haven't been flush with good news in my MFI portfolio. I have lost some ground since the start of 2007. We'll see if earnings season can perk a few stocks up.

I am thrilled that I have held PNCL even after the 55% one day pop. It went up another 44 cents today (I assume due to lower oil prices and US Air bidding higher on Delta). I am now up 160% on PNCL.

I was right about the news on VPHM being positive in my last post. It went up about 4%. Pretty funny, I guess someone posted a link to my blog on the VPHM message board at Yahoo. I had a flurry of activity on my little old blog. No one left any messages though. Sigh.