There goes wienkes again
No surprise here especially after a good day.
An ongoing manipulation of Sirius by goldman.
You would think that a company like goldman wouldn't even bother to keep bashing a company with a chump change share price like Sirius.
What price will there next downgrade be to? You have to know that it is coming.
Here is the link if you want to read the article.
News hits the wires at 9:25 right before opening bell.
Let's face it, until Sirius refinances debt by term loans or dilution, this stock will not be a buy unless it get's back to low .20's because Wienkes at GS will not let up.
This guy should be put in jail because he/GS is blackmailing Sirius into issuing new converts to them.
I can't believe I missed most of the rally from 31 cents to its high yesterday, then decided to buy at .39 yesterday & did not get out with any profit and sold this a.m. at .37 and change once I saw the action and this news.
I'll buy back only in the low .20's again - I have had it.
I know people keep saying GS is always "right"...BUT...
Goldman is "right" only in the sense that, let's say, I'd be "right" if I told my neighbor that his life wasn't worth a plug nickel and then the next day I took a shotgun and shot him.
Goldman is the perpetrator of all this stock price manipulation b/s.
Hey SXMinvestor...I HOPE you stick to your guns this time. I fully expect GS to bash this stock right back down to the low 20s again. In fact, with the "NEW" low target price of .25 cents...I am sure we will see .15 cents now...at which time Weinkes will downgrade it to .05 cents.
This is WAR....and we are in the final battle.
If Sirius went BK or Private...would that screw GS with their desire for more converts? Just curious.
So SXMinvestor....PLEASE TAKE your free cash and put it in ANY number of bargains and sure bets out there would you??? You're killing me. ALL I want is to get my money out of Sirius so that I can put it to better use in ALL these other stocks I've been watching. This market has created DOZENS and DOZENS of definite doubles and triples and quadruples out there! I could be making a fortune just trading these stocks with predictable patterns!!
Sirius had ONE POP in 4 years of a steep and steady nearly vertical decline.
WHY WHY WHY would you feel compelled to make your money back IN THE SAME STOCK THAT TOOK YOUR MONEY????
I call that the "AHAB complex"....because like the obsessed captain in the novel Moby Dick....it's a self fulfilling prophecy that will only lead to your doom.
Let it go man.
I say this as a LONG. This stock is too damn manipulated. If I had known that going in, I would have never broken my rules and invested in this company. But I did, and now I'm trapped.
Yesterdays run up probably caught more victims in it's web.
And now even MORE are trapped.
Run my friend. RUN from this stock like your life depended on it. If you REALLY do have cash left....then LOOK elsewhere.
I am salivating at the bargains out there right now.
I am sure once GS takes this down to .20 cents...there will be those tempted to jump in because HEY! It ran from .20 cents to .40 cents in a day!! It'll DO IT AGAIN!!!
But more likely than not...we will establish ALL NEW LOWS in the teens to .10 cent range.
And you'll be trapped there until December 18th when in all likelihood the 1 for 50 Reverse Split will be approved and MORE dilution thru the issuance of 4 BILLION new shares.
Then the shorts will come back in and rip whats left of your shares to pieces.
It'll be the final END to ALL those who invested in Sirius prior to the RS.
Then Mel will declare BK and it will be officially done.
Of course I don't know. But please put your money elsewhere. If I had cash on the sidelines like you....I would NOT be throwing it away on Sirius which has done NOTHING for investors.
It's a death trap my friend. And this is coming from a TRUE long and person who LOVES the product.
I'd give my left nut to be out of this stock. This is truly hell. WHY ON EARTH would you want to subject yourself to more pain.
You DON'T HAVE to make your money back in the same stock bro.
The very definition of INSANITY is doing the same thing over and over again, and expecting a DIFFERENT result.
Break the cycle man. Put that cash to use in any one of the other bargains out there right now. If you still have OLD shares in Sirius, let em ride...but DO NOT THROW any more cash into this pig. It'll eat em up and shit em out...then eat em again.
For 2008, Goldman now sees revenue of $1.777 billion, down from $1.783 billion
Remember Mel has forecast $2.4 billion in revenue for 2008. With the slowing economy we MAY miss that number but not to the tune of $630 million!
Mel has to shut this Mutha F'er up for GOOD.
But until Mel actually SAYS something about the debt...this A Hole is going to still have a platform to preach his short agenda.
People complain about this market, but it compares NOTHING to what us Sirius shareholders have been thru these last couple of years. First the merger delay, then the UGLY merger deal and now the debt issue.
This will NEVER end until the debt is dealt with, and the fears of a RS and further dilution are taken OFF the table.
All those variables are giving GS the ammunition to KILL this stock with. FEAR and DOUBT about FINANCING and DEBT are KILLING us.
But like I said, at LEAST we will KNOW soon. The Debt HAS to be settled by February AND the RS and dilution issue will be voted on December 18th.
So we won't have to go thru a 17 month HELL like we did with the merger and the FCC.
I just want this nightmare to be over. Once these issues are addressed, I can DEAL with Sirius as a company....but until then, it'll be at the mercy of the likes of Weinkes.
What's the solution in your mind? Do you really think we can avoud RS and dilution? Do you think shareholders have enough clout to stop that on Dec 18 with all the institutions and GS holding most of the shares.
IMO the meeting will not improve the pps. I wonder just how much it will help the pps even when the 2009 debt is taken care of. If we can't show few quarters of clean profit we will be disappointed and have a few years to suffer more.
Yesterday up .09 and shorts having a feeding frenzy again today as they drive it down a .04/.05 already today.
Don't worry about short term fluctuations, just use them as a way to average down, or sell at a profit.
I think the race is on now to see who goes BK first... Sirius or Goldman...
A few more weeks of pain, and Goldman will go bust... or sells out to Citi... wait and see.
SiriusHope....I don't know WHAT the answer is...nor do I have a solution or delusion that ANYTHING I say will matter.
At this point, All I can do is vote NO to the RS and hope for the best.
Like you, I don't even know anymore if the successful refinancing of the debt will be enough to lift this stock. It has been at the mercy of the shorts for so long...maybe it will stay there for ALOT longer.
If this is the case, what will a RS really solve anyway? The shorts will just bash it back down again to where it is now.
Other than the upcoming vote on the RS and Dilution, I have absolutely no power or control left.
Whatever happens after that is OUT of my control, and I am no longer going to entertain all the "WHAT IFS" anymore.
At least we will KNOW soon. The debt HAS to be refinanced by February, and the RS and dilution will be decided on the 18th.
After that I won't have to listen to all the "IS MEL in on the conspiracy" talk anymore. For once we will have an answer. Either the longs will be wiped out and sacrificed or not.
Either way, I'll be able to move on.
it is clear that his only motive is to keep the stock below the value that would allow sirius xm to cover their converts. (i don't know what I just said, but I know cramer said the stock has to be over $4 to cover by february)
The stock does not have to be over $4 to pay it off in cash when it's due....
Originally Posted by imromo24