SIRI Intraday Thread: Thursday, March 26th

[Beach Gambler]

Good Afternoon all, Have I missed anything?

[mogami]

Depends on what you ultimately are shooting for. Certainly the right strategy if you are not looking for homeruns, but are looking to string together singles and doubles. I love sports analogies!
In my case, I have a lot of SIRI shares, over 250,000 of those 'little' suckers, bought on the cheap a few weeks back. For me, I want to ride this out and see if it'll really fly. Don't want to sell and then re-purchase over and over because of the obvious....will reduce the total amount of shares as they hopefully get more expensive. I hope to keep as much of that original amount as I can in hopes of the grand slam. Long odds, but worth it because I got in cheap....not a ton of $ at risk. Could change my mind, but for now, holding pat and optimistic.

Hi, Never forget shares of stock are simply the chips they give at the Wall Street Casinos. Don't enter with anything you can't leave inside

[Brandon Matthews]

So exilejeff...did you go to Tulane?

[terrymr]

Banks are projecting forward that personal loans, car loans, and credit card loans WILL BE paid back at 100 cents on the dollar. They are writing down mortgage debt. They project forward the mortgage debt as being overvalued, hence they are writing down those loans, not any others. Were we differ is you think that the other loans are correctly valued. There is were I disagree. Yes, I know I still owe the bank 100k. I was trying to make an anaolgy to show how a person who do what the banks are doing. The banks arent writing down mortgage loan value because the price dropped by a "appraiser, or similar houses sold), they are assuming those loans wont be paid back AT ALL. Or not to fruition, and will default in the near future. So they tried to sell them. Found no buyers except for pennies on the dollar, so banks around a year ago were able to unload some of these mortgage backed secrutiies for around 40 cents on the dollar. This pissed off every bank in the world. You saw more writedowns after that happened. What could this bank sell a personal loan for? Or a car loan? Or credit card debt? Not at 100 cents, or .98. Most of these loans are still valued actually above 95%. They would probably get .60 cents on the open market for this debt right now. My guess. Maybe higher.

Securitized debt i.e. mortgage backed securities and other loan backed securities are not projected ... they're marked to market - valued at the last market sale price. Since there's no liquidity in these markets (no buyers) the value is unrealistically low.

[mogami]

Hurrah it's beer thirty here. "todays stupor is brought to you by Becks Beer, the makers of Becks beer remind you to drink responsibly"

"Caution: you should not operate machinery, drive a car, perform brain surgery or make trades on Wall Street while under the influence of Becks"

[underway]

Hi, Never forget shares of stock are simply the chips they give at the Wall Street Casinos. Don't enter with anything you can't leave inside

Exactly! Like I said, I got in CHEAP. So, my max exposure is pretty low. That's the beauty of this one. I don't trade stock for a living, so it's a tolerable investment risk for me. If I were to lose it all, I would only have to sell one or two of my 5 kids! LOL!

[RU Sirius]

Found your post to be very inspiring. I'm new to the stock market, only started this last December. I too am a fan of XM (I subscribed because of the MLB package) and was and still am convinced that this is a great product. For someone who really never even looked at the stock market, one day I saw the share price on SIRI when flipping through CNBC and couldn't believe how cheap it was. That got me to start looking into investing. So, SIRI is what brought me in and SIRI is pretty much what I have most of my interest in to date.

I found your post most interesting because I am an ex-sports gambling addict. I've since worked through most of those issues and never did go cold-turkey with GA and all that. I still "want" to live a lifestyle that includes being able to play a round of golf with a $20 on the line. I was able to reel myself back in and feel I am pretty much in control, dare I say, of this "addiction" now. I've often wondered in the past months though if I'm allowing the market, and SIRI in particular, to lure me back into this addictive state. I know I spend way too much time at work and home following this drama. I think it's great that you bring to light the ease by which a person can get drawn into something like this in hopes of striking it rich. Now granted, if all goes well, maybe we can all be rich from this stock some day.....but I think it takes a wise person to be able to step back and see the big picture and make sure SIRI doesn't consume our way of life. Just want to make sure eveyone involved takes the time to ask themselves this from time to time and make sure to put your life and your family first before letting the market control everything in our world. Very good points Benchwarmer. I'm truly sorry to hear of your plight but glad to know you are on your feet and moving forward.

I, for one, bought a house in Orange County, CA 2 years ago, got married the next year after a 6-year relationship, then had the %*&# run off with someone else 6 mo. later. Still digging out through divorce and trying to salvage a house that is worth $300k less than I owe. I'm in the midst of trying to short sell the house to myself in a way (called a short-refi), if I can get HSBC to accept it. Been dealing with it for nearly a year now trying everything under the sun to save my house and my credit but am finally getting close. I actually am in limbo right now with my SIRI stock. I have made enough in the last month from SIRI to pay off all other debt from credit cards, etc. It looks like I will need to do this just to qualify for a new loan from a new lender. Thus, right now I'm watching all of your comments and tyring to know when to pull the sell trigger. Could sure use .50 first! I'd love to stay long on this baby until it gets up in the several dollar range....I think it is a long-term huge winner, but my hand is going to be forced by my housing issue. Anyway, lots of side stories in there, but what I'm getting at is........thank you guys on this board for providing great opinions and insight. I didn't know what I was doing.....probably would have dumped what little I had on the BK rumors. But, you pulled me through and have at least positioned me for some much needed gains that can help turn around and solve many other pressing issues in my personal life. Now if I can just avoid SIRI making me an addict again!!!!

Sorry for the novel.....just thought Benchwarmer's post was a good time to tell a personal story. You guys are GREAT!!! Best of luck to all of us and keep up the good work

[Brandon Matthews]

With 2 minutes to go until zero barrier, I'm looking for a sharp decline to 36 that will last just seconds followed by an immediate spike up to at least .38. Could be interesting...

[Newman]

choirgirl: 10 or 12% unemployment? You must think the worst is yet to come... we are barely at around 5% now. You expect to double that rate (and then some) over the next few months?

Turn off the news. It will be ok. Think happy thoughts...

[mogami]

choirgirl: 10 or 12% unemployment? You must think the worst is yet to come... we are barely at around 5% now. You expect to double that rate (and then some) over the next few months?

Turn off the news. It will be ok. Think happy thoughts...

Hi, I think nationally we are over 8 percent. Ohio and Michigan are near 10 percent. But we've been here before without spending a trillion dollars.