SIRI Intraday Updates for the Week of 1/19/09

[Siriusowner]

when have i proven that im dumb? when i showed that i know more about short selling than you do even though you claim to be an expert, just because i dont claim to be an expert doesnt make me dumb. Everytime i try to like you, you remind why its impossible, HAVE A GOOD DAY, COCKFACE!

Each time you write something you prove you are dumb.

[trippingthespeculatingpos]

everytime you write something you prove you are an insecure worthless pos, i dont care if u think im dumb, cause im not. you are no longer worth my time and i will actually block you now, thx.

[Siriusowner]

Siriusowner,

You are just flat out wrong about this. Here is more info that this is fact....

Do you have anything to back up your claims?

http://www.forbes.com/forbes/2006/1211/152.html

Brokerage firms are free to lend out any shares that customers put in margin accounts, the kind of account that allows the customer to borrow against his securities. Take a look at the fine print on your brokerage application. If you see a line of credit attached you've probably got a margin account. And that is a fact, you had me reading something no one reads other than gay people, the fine print in my customer agreement.

Does your brokerage pass along to you any of the profits it gets from its stock loan department? Probably not. But straight-arrow brokerages at least make up to you the tax cost of not getting genuine dividends.

http://www.andrewtobias.com/bkoldcolumns/980319.html

Short-Sale Mechanics
Published on March, 19, 1998

When you sell stock short, you are selling shares you don’t own, hoping they will go down. Your broker just borrows someone else’s shares for you to sell. Eventually, you have to buy them back and return them (unless you’re really lucky and the stock goes all the way to zero and disappears, in which case there’s nothing to return). If you can buy the shares back for less then you got for them, you make a profit; if you have to pay more, you suffer a loss.

But where do brokers get shares to lend short-sellers?
The first thing they do is look to see whether one of their other customers holds the same stock in a margin account. Anyone with a margin account has signed an agreement authorizing the broker to lend his shares. He will not know they’ve been loaned, and he needn’t worry about it either way. He’ll still get his dividend (it will come out of the short-seller’s account); he will still be able to sell at a moment’s notice. (The broker will just replace the shares by borrowing someone else’s shares. Or, if that proves impossible, he’ll "buy in" the short-seller, forcing him to cover his short — typically at a loss — and return the shares. This doesn’t often happen, but it definitely can. It’s one more risk of the hazardous short-selling game.)

Brokers love short sales, because although you take all the risk, they typically get the interest on the proceeds of the stock you’ve sold. That’s right: you shorted 1,000 shares of some stock at $50; well, that means the broker got $50,000 in cash money in return . . . but you won’t find that money in your account. It’s earning interest in his account, whether he be a deep discounter or the most expensive full-service firm on the block.

(Active, pushy customers can sometimes twist arms and, if they do enough short-selling, persuade their brokers to share some of that interest. But few even know to ask and fewer still will be told yes. If you do $20,000 a year in commissions, say, well, that might be a different story.)

If your own broker doesn’t have shares of stock in one of his other client’s margin accounts to lend you, he will call around to find a broker or institution that does have shares to lend. Harvard, with its $10 billion endowment, makes some good money this way.

When a broker or institution lends stock, the "rent" it charges is interest on the value of the shares. In other words, your own broker has to split some of the largess with the lender (making him all the less eager to share any of his share with you).

Well you were correct in that they do lend shares of other companies, however; the discussion was about SIRI and I seriously doubt anyone is holding SIRI's shares on a margin account. They can not even be used as collateral. Therefore, they are not being lent to anyone. And that is a fact, you had me read something only gay people read, the fine print in my trading customer agreement.

[Siriusowner]

everytime you write something you prove you are an insecure worthless pos, i dont care if u think im dumb, cause im not. you are no longer worth my time and i will actually block you now, thx.

Oh, I am heart broken.

ps: It is scientifically proven that people that curse and call other people names, is dumb...hahah. Take into account that I did not call you dumb to begin with, you did.

[Demian]

Now, now - no hair pulling girls...

Siriusowner,

I hope you don't take anything personal by me correcting you inaccurate statements. I would hope you, or anyone, would correct anything inaccurate that I post......nobody's perfect. Insulting Tripping doesn't add anything to all of us putting our heads together to figure things out....

Tripping,

When someone insults you, even though it may be difficult, try not to let them drag you down to that level....

Life is to short - don't miss the flowers along the way. Can't we all get along?

Peace to all.......

Demian

[trippingthespeculatingpos]

im trying not too demian but the dude's insulting me left and right and he's just a complete dick, im not gonna sit there and act like hes not a complete dick. So anyway he's blocked so i dont have too see what he writes anymore and that should save me the headache, if he talked to people irl the way he does in here he would probaly get his ass kicked left and right.

[Siriusowner]

Now, now - no hair pulling girls...

Siriusowner,

I hope you don't take anything personal by me correcting you inaccurate statements. I would hope you, or anyone, would correct anything inaccurate that I post......nobody's perfect. Insulting Tripping doesn't add anything to all of us putting our heads together to figure things out....

Tripping,

When someone insults you, even though it may be difficult, try not to let them drag you down to that level....

Life is to short - don't miss the flowers along the way. Can't we all get along?

Peace to all.......

Demian

I did not insult him, he insulted himself. He called himself dumb, I just pointed that out and told him we trusted him. It is not my fault if he called himself dumb.

ps: I did not take it personal. I just agreed with you above.

[Siriusowner]

im trying not too demian but the dude's insulting me left and right and he's just a complete dick, im not gonna sit there and act like hes not a complete dick. So anyway he's blocked so i dont have too see what he writes anymore and that should save me the headache, if he talked to people irl the way he does in here he would probaly get his ass kicked left and right.

Whatever dude. Just do not kill yourself over this. I just think too fast and you give me wide windows of opportunity. Just look at all the postings, I never insult you, you do that yourself, I just agree with you.

[Demian]

Well you were correct in that they do lend shares of other companies, however; the discussion was about SIRI and I seriously doubt anyone is holding SIRI's shares on a margin account.

I have SIRI shares in a margin account.....so you are wrong about that. Just because SIRI shares can't be margined in most peoples accounts, doesn't mean that people don't have SIRI shares in their margin accounts and that they don't use margin on some of their other positions. I have bought other positions with margin while also holding SIRI in my margin account...

If one has SIRI in a margin account, even if SIRI is their only position and they haven't bought any other positions with margin, the SIRI shares can still be lent out to others for shorting by their broker.

I don't know how I can make it any clearer for you to understand...

[Hopeful]

Siriusowner,

Just give it up man, you shouldn't have to prove something about yourself on a forum by belittling other people. Your pathetic comments the other day were very rude and uncalled for. Tripps a good guy leave him alone...

People come here to learn not to be put down.