Are we forming a bottom? I am looking at a 15-day chart and it looks like we may be.
SIRIUS XM SATELLITE RADIO FORUM
Are we forming a bottom? I am looking at a 15-day chart and it looks like we may be.
i think its going to take awhile to shake the bears out but we are in the process.
My prediction for today......
The volume increases into the close and SIRI closes @ .12 or above....
http://www.smartbrief.com/news/nab/s...3-E1EE87C93FA3
Sirius XM Radio rated by writer as worst stock pick of 2009
NAB SMARTBRIEF | 01/30/2009
Sirius XM Radio is Motley Fool writer Jim Gillies's worst stock for 2009, a selection he bases on his assessment of the possibility that it will lose all value. He suggests the company will either go bankrupt because it is unable to meet its huge debt obligations, or it will dilute shareholders "into oblivion" if creditors agree to accept its stock in lieu of repayments.
http://www.minyanville.com/articles/.../index/a/20888
Getting Sirius About Convertibles
Bill Feingold Jan 30, 2009 1:30 pm
"I own a very small amount of Sirius XM's convertible bonds, set to mature in December. I originally bought the bonds at $0.90 on the dollar, sold them a bit higher when I started to get nervous about the company's survival last year, then decided to jump back a few months ago after they had plunged to 50. Essentially, as a gambler, I was getting even money on the proposition that the company would last another year.
As usual, I was early. Prospects have certainly not improved for the company's ability to refinance the bonds, and they are now in the high 30s. The company has been chipping away at a more pressing concern -- another bond issue maturing in several weeks -- by getting some of the bondholders to turn in their bonds in exchange for big slugs of new stock. You can buy a share of stock for about what it costs to park for 15 minutes downtown in my quiet Westchester village. "
doesnt look like were going to get a .12 cent close, hit .12 for a second but the bids brought it back down.
SIRI closed up 5.541% @ .12......with the market bloody red.Originally Posted by Demian
yeah im seeing a .12 cent close from td too, damn demian you crazy man now tellme .13 monday or what? are the banks going to be red monday too?
Ya, one more day wouldn't be a bad thing, buying under 8000 is a good thing. Good days to take advantage of the bargains. It's like shopping at Target
bah for you but im not buying anything else i canceled my deposit cause it was going over what i originally planned, i gotta stick to the plan :O I think im in good shape where im at i might throw more on siri if the volume shoots sky high and i see it approaching 13
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