SIRI Intraday Updates for the Week of 3/16/09

[john]

John come on now, get your butt to partying with us at .50 cents. Thats a legitamite goal, and you should have got most of your money back by then. If not buy more!!! dammit!!! Well, we can do one at $1 too ,for the older bagholders like yourself

relmar when we were talking about this before I was going to have made a million off it. Now I will just be happy to get the 120,000 I made off it, before I became stupid and not only put all that back in but the original 25,000 investment and 5,000 that I was retarded to have done. Yes the 5,000 was a good investment now but back then at .15, .11, and .07 it was a mistake that just turned out to be good. It still doesn't make it a wise choice with so much already in at .21, .25, .35, and I cant go on because it is making me sick again.

[sjte5409]

Is there a mathematical formula that I can use to figure out how much I need to buy at price x in order to average down from my current position of 50,255 shares at pps $1.7702 ?????

[Danzo]

Oh SNAP! I can't believe that it went up 43% since I checked on it this morning. My etrade account value was about $5,000 this morning and then it went up to SIX thousand dollars when I got home from work just now.

Maybe I can achieve my dream of getting wealthy enough to put my money into a dividend stock and live off that dividend for the rest of my life, never having to work ever again. That's my goal.

[Sirius_Long_Hauler]

Is there a mathematical formula that I can use to figure out how much I need to buy at price x in order to average down from my current position of 50,255 shares at pps $1.7702 ?????

Just take the total amount you have invested at any time, and divide it by your number of shares.

For example, if you buy $10,000 more shares at .35 and get 28.5k more shares, you now have invested $99k total and own 78.5k shares. So your new break-even price is 99k/78.5 = $1.26 per share.

It's been a long day, so my math might be screwy, but that's the basic concept.

[sl62]

If you are in Etrade you are given the option of which lot you want to sell it is at the top of the page just above the place order box. That is one reason I dont like Etrade pro you cant pick and choose the lots unless you go to the main page of your account and if you dont pick then, then it is first in first out. I saw sl62 post on this I dont think he is realizing the long term gain and short term gain is different long you pay less (capital gains tax) the other you pay income tax rate. Plus I think as long as it is a loss in the same capital you get to claim more then the 3,000. Then again I am not an accountant so that is something you should be asking him about.

888's...

True. LT gain = held one year or more. ST will incur income tax but I only said ST if he needs/wants to show more gross income on his return (if he relies on trading to contribute to his overall top line)...I'm a short-term trader/investor and also use as income so I incur more taxes...

[otone]

Relmor,
I don't frequent Yahoo boards because it is mostly spam. In fact I hadn't read anything on them in months, but this weekend I read one from streetinsider. His post called this weeks action almost exactly. Pretty close to what you were saying, but a little more aggressive regarding SP going forward.

Not sure what the protocol is regarding posting of information from other forums, but this is what he has posted today as well as the link to his post: http://messages.finance.yahoo.com/St...&frt=5#4139486

"WHO WANTS TO KNOW WHAT'S NEXT?
I will tell you.

If you followed my previous post, I told you there was going to be a short panic once we broke through the .27c resistance. Shorts had a strong interest in protecting their postions at .28c. As I stated breaking through would create a "short squeeze" or panic sending the share price to .40c.

We didn't hit .40c for a simple reason. Shorts have a another postion at .40c. It is a logical fact that they are going to protect it as well. The market knows this and placed their sell orders just under where shorts were expected to fight. Most day traders will sell a couple of cents shy of the key resistance point. That happened today. A few retail shorts jumped on the opportunity as well and together this took out stops that had been set on the way up.

The GREAT NEWS for longs is that the market and a few BIG buyers are very optimistic about SIRI's future now. The stock has established strong support and some big orders are being placed at each support point. The trend is very clear.

So what's next?

.40c will be taken out and rather quickly now that a new floor is forming at the .33c range. Technicals are moving away from an oversold position, setting up for another strong move. The short positions at .40 (which is larger than the .28c postion) will unwind just as quick, if not quicker than what you witnessed today.

Target is .57c

Do yourself a favor and hold this time. The shorts are counting on you selling out again. If you do .55c will probably be where we stall.

If you want to truly see a "REAL" short squeeze...Buy more shares on the way up. It will break the cycle and you will see an extremely large short position cover at .69c.

The stock will move above $1.00 if that happens.

What makes this truly exciting? If the market indexes continue to rally....you could see it all happen yet THIS WEEK.

Good Luck"

Any thoughts on this guys analysis?

[sl62]

I won't be selling any SIRI until I see Dow 8000...

I don't think anyone can give me any reason whatsoever this SP shouldn't be at .50...

[Hopeful]

.364 AH going to .37!!!

[hoping2rise]

I'll sell
10% at $1.00,
10% at $1.50,
10% at $2.00 and

70% at $10.00+

[sl62]

Relmor,
I don't frequent Yahoo boards because it is mostly spam. In fact I hadn't read anything on them in months, but this weekend I read one from streetinsider. His post called this weeks action almost exactly. Pretty close to what you were saying, but a little more aggressive regarding SP going forward.

Not sure what the protocol is regarding posting of information from other forums, but this is what he has posted today as well as the link to his post: http://messages.finance.yahoo.com/St...&frt=5#4139486

"WHO WANTS TO KNOW WHAT'S NEXT?
I will tell you.

If you followed my previous post, I told you there was going to be a short panic once we broke through the .27c resistance. Shorts had a strong interest in protecting their postions at .28c. As I stated breaking through would create a "short squeeze" or panic sending the share price to .40c.

We didn't hit .40c for a simple reason. Shorts have a another postion at .40c. It is a logical fact that they are going to protect it as well. The market knows this and placed their sell orders just under where shorts were expected to fight. Most day traders will sell a couple of cents shy of the key resistance point. That happened today. A few retail shorts jumped on the opportunity as well and together this took out stops that had been set on the way up.

The GREAT NEWS for longs is that the market and a few BIG buyers are very optimistic about SIRI's future now. The stock has established strong support and some big orders are being placed at each support point. The trend is very clear.

So what's next?

.40c will be taken out and rather quickly now that a new floor is forming at the .33c range. Technicals are moving away from an oversold position, setting up for another strong move. The short positions at .40 (which is larger than the .28c postion) will unwind just as quick, if not quicker than what you witnessed today.

Target is .57c

Do yourself a favor and hold this time. The shorts are counting on you selling out again. If you do .55c will probably be where we stall.

If you want to truly see a "REAL" short squeeze...Buy more shares on the way up. It will break the cycle and you will see an extremely large short position cover at .69c.

The stock will move above $1.00 if that happens.

What makes this truly exciting? If the market indexes continue to rally....you could see it all happen yet THIS WEEK.

Good Luck"

Any thoughts on this guys analysis?

otone...

great post and thanks. I believe every word of it and is what I have been saying in slightly different terms. This SP is on the move and you don't sell into this kind of move. I've been caught doing so before and want to do this right. We've fought too long to miss anything. Shorts have little to stand on and will keep surrendering their strongholds..and with the new money coming in, fahgettabotit. Btw..Mel knew this would happen which is why he was never worried about his 1.37 buy in. In time, he will be back at his cost basis on that trade. I guaroooontee..(as Justin Wilson used to say..RIP)

Let's just put it this way. Blue Horseshoe loves Annacot Steel....