It's a good start to the day. 1.11, up almost 2%.
Good news from General Motors yesterday on sales.
This could add up to a nice week! SRK is right about options on Friday. It could be very interesting and a nice day to swing trade for some easy profits.
Here in Michigan the auto companies (at least Ford and GM, I know) are
Originally Posted by candleman
working overtime. A good sign. :)
Have fun Julie at the shore! http://serve.mysmiley.net/love/love0031.gif
Spencer once again you ROCK, thanks for the doing the show!!!
Originally Posted by Spencer Osborne
For those of you who missed Spencers post from yesterday.
Please tune in. :)
Thanks Canadian. It will be a gorgeous,wonderful 11 days I am sure.
Originally Posted by Hopeful
No matter what the weather. ;)
GM sucks and they lie to your face on TV. They have not paid back shit, liars.
Siri is garbage and dead money, sell on any major pop, you can always buy back later.
As for the shorts..they have been on a tear! FAZ has moved up almost 5 bucks in the short run, I have been jumping up and down in my Ford 250. FXP has also ran from 40-47 and now back to 44ish. Don't let the small pops in the markets fool you. The gig is up. Time for cash, shorts and gold....a little late to get into gold but you get the point.
I must say when an analyst on CNbC said dow 5000, I thought of the siriusbuzz crowd. I called dow 6000 and I was called a nut, the game is not over and we will see how all this debt bs works its way out. I definitely would not be buying stocks, unless they short something, anything. I bought SH, s and p short, its been moving up. The signs are out there if you know where to look. Drop stocks, wait for the real correction, which we have not seen yet, then buy stocks when the dow is near 5-7 thousand, thats when they will be cheap.
Big Ben, who is not yet allowed to practice with the team because he is an ass!
It's always nice to hear such a positive assesment of the company that many of us hold a lot of stock in. :)
As for GM. They are selling cars and that's not bad for SIRI!
Originally Posted by Big Ben
So, we closed the day flat, no loss, no gain at 1.09
Not bad considering the rest of the market was down more than 1%!
GM did nothing for the stock. The numbers are the numbers and they were out before GM posted it's news. I am talking about the monthly sales figures for all the OEMs. The point is GM said nothing about sales that was not already talked about and that was already baked into the PPS. As a matter of fact it might have brought the PPS down because what I saw was a pick up in production to fill up their inventory. While that is good in the long term it is bad for the short term because that adds cost to SIRIXM. Still really nothing new there ether because Mel and David Frear talked about just such a reason for why they are hesitant on giving better and/or improving projections on some of the metrics. What will move the PPS at this point is confirmation of the new 750,000 number which will come when Mays sales figures come out for the OEMs. I believe that there must be some good news in that because Mel knows well where those sales figures are because as he says he gets all the stats of new subs, from all catagories and lost subs from all catagories. If he did not see a somewhat good add to confirm what he had suspected then they would not have come out with that NEW 750,000 subscriber add number. I still dont think it will be great but that it is what they had figured for May and put that with what they figured would be a loss for the 1st quarter, that all they really needed at this point is fare numbers to come in for the rest of the year.
For those that dont believe me about what I said when I said I believe even Mel figured a loss in the first quarter just look at what they have increased the sub projection by. Yes if you figure they thought there would be a loss of 80,000 subs, (not a bad figure considering the first quarter of last year and that churn is always highest in the 1st quarter put together with OEM sales being the worst of the year in the first quarter and what information Mel had when he said that (Jan. and Feb. sales figures alone were showing a loss of close to 50,000 to 80,000)) then you add 170,000 that gets you to an extra 250,000 new adds.
The only wild card is how much did Mel underestimate this time. If we see another 900,000 to 950,000 OEM sales number. That will mean another 40,000 to 70,000 at least added to the 100,000 (I bielieve) they got in April. The good news is history shows us, in general June is better then both May or April and if that still holds then we should see something like 240,000 this quarter. Yes that means thay would have 410,000 with 2 quarters left but lets face facts here the 3rd quarter is the second worst for OEM sales and the incentives may not be there this time to save that quarter. So they may not pick up that many anyway in the 3rd quarter, lets be optumistic and say 120,000 to 140,000 that still means the 4th quarter will need to bring in about 220,000 to 200,000 new subs.
Today could be a blood bath. Majority of the worlds markets are red and our premarket indicators look to be following suit. FAZ up 4 percent, FXP up 2 percent, they have been on a tear. FAZ my biggest holding 1400 shares went up 11 percent yesterday, 1.50 per share. It has been quite the ride this year for me....up 2k down 10k back up 9k and right about now I look to be "going sizzler". Wish me luck, I need a two bucks to get back to my average purchase price 17.70. Protect your stack.
Big Ben is officially done, I am going with DD....Dennis Dixon...the future star quarterback in Pittsburgh.
Some of the shorts have pulled back while I was typing but don't let that move fool you. They are shaking the trees to see what falls out, nothing more, premarket swings are very normal, get short.