SIRI Intraday Updates for the Week of 11/17/08

[SiriusHope]

are you saying that those last 2 trades were sellers?

[Siriusowner]

What evidence do you have?

There is a buyer and a seller for every trade......

You are partially correct, there's a buyer or seller and a market maker. When you are a seller the market maker acts as a buyer, when you are a buyer he acts as a seller.

The market maker seeks to bring order to the markets. Unfortunately for the last 2 or 3 months there has been only caos, irrational selling... NO BUYERS. Where do you think the shares of the sellers go if there are no buyers ??? Who do you think sets up the price of the stock ? you ? me ? SiriusHope ? NO, NO, NO. The price is set by the market maker and he buys or sells the shares from or to you.

If the market has a lot of sellers and no buyers, the market maker will lower the price of the stock to discourage selling and encourage buying. The opposite is true if there are too many buyers and no sellers.
If he is unable to find buyers he gets stuck with too much inventory of one stock and at the end of the day he has to rebalance.

Market Makers for Sirius ? i.e: Goldman Sachs, Merrill Lynch, Morgan Stanley. Buyers & Sellers for Sirius: Institutional (i.e: Fidelity) & individual investors.

I hope my short explanation is enough. Please let me know if you wish to know more.

PS: if you want to see who's buying and/or selling get a trading software with NASDAQ level II quoting system.

There you will see who traded what. Goldman Sachs is a big market maker for Sirius.

[SiriusHope]

Thanks siriusowner for your explanation.

[Siriusowner]

Both at the same time........every trade needs a buyer and a seller unless there is some type of collusion going on - which is supposed to be illegal.

Read my previous post. Market makers are not illegal.

Get a NASDAQ level II quoting system.

[SiriusHope]

Read my previous post. Market makers are not illegal.

Get a NASDAQ level II quoting system.

This is the only time i ever bought stock on suggestion of a friend because of merger potential. No need for me to purchase a nasdaq II system.

[SiriusHope]

after hours had 2 trades

16:27 $ .23 654,200
16:26 $ .23 241,596

were they buyers or sellers?

[Siriusowner]

This is the only time i ever bought stock on suggestion of a friend because of merger potential. No need for me to purchase a nasdaq II system.

Don't get it. The software is for professional traders and investors. The cool thing about it though, is that there, you can see the market makers buying and selling to rebalance their inventories and you can see orders from Goldman Sachs, Merrill, Fidelity, Morgan, etc...in the seller side as well as in the buyer side (I forgot to mention that the market makers not only act as a market makers but they too trade large blocks of stock).

[Siriusowner]

after hours had 2 trades

16:27 $ .23 654,200
16:26 $ .23 241,596

were they buyers or sellers?

Buyers. Now the price went up to 0.2388.

[SiriusHope]

Siriusowner...What is your prediction where the bottom of SIRI is at?

[Siriusowner]

Siriusowner...What is your prediction where the bottom of SIRI is at?

You are asking me the $1,000,000 USD question.

My analysis is as follows:

It seems to me that a bottom has been forming around 0.25. I know today it went below that but I seriously doubt that eventhough 0.25 is 5X book value, the stock will go much lower.

Mel did a good job in projecting the future and selling that to the media. If he can refinance, I do not doubt the stock will start climbing ( therfore there will be buyers for the stock).

I would not add to the position though. Wait until after the next earnings announcement. There we will have confirmation if the company is in the right track.