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I am not waiting for the bottom. No one can predict the bottom. I am just waiting for the right moment and right now it is not the right moment to add more shares anymore... even if they are at 10 or 11 cents.Quote:
Originally Posted by trippingthespeculatingpos
I did say at .14 SIRI found support and I was very close to buy $10000 worth of shares but my price target was never hit that day and the following day I did not fell comfortable anymore.
I did say at .14 SIRI found support and I was very very close to buy $10,000 worth of shares - like I said before - but my price target was never hit that day and the following day I did not feel comfortable anymore.Quote:
Originally Posted by Demian
It is very difficult to be a bull these days and you are either a bull or a bear... Never a hog. I've been bearish on this stock since 2 months ago and I began turning into a Hog and it almost got me. I'll continue being bearish as long as the fundamentals continue to be the same. You do your thing...
Not sure if you guys have the right numbers for AH trades. It actually finished at 105M on Friday. There was another 50M block that went through around 7:30PM.
http://www.nasdaq.com/aspxcontent/Ex...&mkttype=after
That's what I posted friday......data straight from the NASDAQ.Quote:
Originally Posted by Demian
The bashing continues from the Washington Post.....
http://www.washingtonpost.com/wp-dyn...122000123.html
MARKET BUZZ
Not Worth the Paper They're Printed On
Sunday, December 21, 2008; Page F02
"Morningstar tried to put it delicately and hedged enough to say things could change, improving the companies' fortunes, but in the end there was no polite way out: "If we think a stock is worthless, there's no point in saying otherwise," the investment research company said in a recent report."
"Sirius XM Radio: Crushing debt burden, slowing subscriber growth, debt coming due."
Miracles can happen when debt is handled...
http://www.bloggingstocks.com/2008/1...rican-apparel/
Debt bombs defused at Macy's, American Apparel
Posted Dec 20th 2008 1:10PM by Jamie Dlugosch
In my Top 10 Stocks to Avoid in 2009, I suggested that investors stay away from stocks impacted by a handful of specific themes that will play out during the coming year.
Stocks impacted by higher fuel prices, a stronger U.S. dollar, and high defaults in the credit card space should be investment afterthoughts in 2009.
One theme that did not make the list, and probably should have, are companies with so-called debt bombs set to go off at some point during the next year. There are many businesses that have big debts coming due in 2009.
With the credit markets in disarray, the likelihood of obtaining new loans to replace old debt is difficult at best. As such, companies must obtain concessions from bond holders or run the risk of going into default. Whatever scenario plays out, the result is likely to be negative for common shareholders. With so much risk, it makes little sense to venture into stocks with these issues outstanding.
Take the auto industry, for example. Common shareholders are already low on the totem pole, and with news of the bailout that position is even more tenuous. Terms of the government loan require conversion of existing debt to equity. That dilution is negative for shareholders, so it's best to just stay away.
There are a number of companies facing these issues. This drama will unfold for one of my favorite names, Sirius XM Radio (NASDAQ: SIRI). This lightning rod of a company has nearly a billion dollars of debt coming due next year. It is very much a question of whether they can refinance or obtain concessions needed to satisfy debt holders. With shares trading for pennies, investors are assuming the worst. That is probably a good assumption.
That said, one never knows what can happen when debt is refinanced or renegotiated. Some companies doing so are seeing their shares move substantially higher. Macy's (NYSE: M) is a good example. Last week, the company announced that it had made changes to an existing line of credit in hopes of having more flexibility in dealing with its own $1 billion in bonds coming due in 2009. Investors cheered the move and the stock soared.
And on Friday, it appeared that American Apparel (AMEX: APP) had dealt with its own debt bomb issues. The company announced that it had extended lines of credit for three months. The extra time will give the company some breathing space as it looks for more permanent longer-term financing. This is not much of a reprieve, but investors were supportive nonetheless, as the stock exploded after the news was announced. Shares gave up much of the gains though as investors realized the news was only a stay of execution.
Clearly there is a lot of risk with these debt-bomb companies. But resolution of said issues can prove to be very lucrative for investors. Ultimately, though, common shareholders are merely guessing at this point as to whether debt issues can be resolved.
I would stay away however tempting it may be to jump in. The time to buy these companies is when there is a bit more clarity. You might miss out on the initial jump, but the decimation ensures there will be plenty of meat left over.
Jamie Dlugosch is a contributor to InvestorPlace.com.
http://www.usatoday.com/money/autos/...-equinox_N.htm
GM reveals more fuel-efficient 2010 Equinox
"GM's OnStar service and XM Satellite Radio come standard, and there's a remote-starting system that can also activate the heater or air conditioner and the optional heated seats."
This article says that 209 million is due in Feb. '09 - I thought is was 210 million? Is it 209 or 210 million? What's a million dollars when you're dealing with hundreds of millions though....
http://topnews.us/content/2996-share...-reverse-split
Shareholders of Sirius XM approve reverse split
Submitted by Medha Sood on Sat, 12/20/2008 - 03:37
At Sirius XM Radio Inc's annual shareholder meeting Thursday, more than 150 shareholders in attendance approved a reverse stock split and an increase in shares. The move will help the satellite-radio operator pay its debts, and prevent its shares from being delisted from the Nasdaq.
In order to lift the stock price above $1 and avoid delisting, investors permitted the board to effect a reverse split ranging from 1-for-10 shares to as much as 1-for-50. In an e-mailed statement, New York-based Sirius said that the vote boosted the number of authorized shares from 4.5 billion to 8 billion.
The stock has traded below $1 since September 10, amid concerns that CEO Mel Karmazin would not be able to manage the debt and meet growth projections. By selling new shares, Sirius could get the means to meet the nearly $1 billion in its loan repayments due next year, including $209 million in convertible bonds maturing in February.
Sirius' shares that tumbled 96 percent this year, climbed half a cent to 13.5 cents in Nasdaq trading, at 4 pm New York time.
Sirius predicts its subscribers to rise to 20.6 million next year, from almost 18.5 million subscribers after its $2.76 billion all-stock purchase of XM Satellite Radio Holdings Inc. in July.