Is the lack of volume a good thing?
SIRIUS XM SATELLITE RADIO FORUM
Is the lack of volume a good thing?
Its much better to be going down on low volume, than down on high volume. Generally a good thing. But remember, MM's main goal is volume(unless they had shorter term side goals, but we can never know this, until its revealed.). If its going sideways then low volume means were going to get a move soon. Look at the volume chart of Sirius. Doesnt stay down for long. This stock is in wait mode. MM's realize now that no ones selling here, so they might have agendas to fill knowing this. Retailers are staying away from adding here. Big money is either done buying, or is slowly accumulating shares here, just seeing how many weak hands are actually left.Originally Posted by Beach Gambler
As usual you have come through with a great answer Relmor, I thank you sincerely.
Check out the attached. It shows pretty clearly what their game has been so far today. The tested the first support (S1 in Demian's pivot table) and it held. There were quite a few shares stacked up on the bid at .33, close to a million I think. The support at .33 caused us to move in the other direction. Interestingly enough, there was relatively no support on the way down to .33, but now on the way back up ISEG has a half million shares on the ask at .334 acting as resistance. So, looks like iseg still has orders to fill on the bid at .33
My guess is that we will test .33 again today. If it holds, we may climb back to .34
Relmor, does that sound about right?
(Dow Jones)--General Motors Corp. (GM) and Chrysler LLC (C.XX) secured a combined $3.5 billion in U.S. federal aid to bolster suppliers under a program launched Wednesday.
The aid is limited to suppliers to the two companies, but its impact is expected to ripple through the industry as many auto makers source parts from the same manufacturers.
GM will oversee $2 billion under the Treasury program, with Chrysler securing $1.5 billion to stabilize payments to suppliers, many of whom are in, or on the edge, of bankruptcy.
Ford Motor Co. (F) declined to take part, stating that it can make supplier payments from its own funds.
The Treasury's supplier aid - which it billed as a $5 billion program - is designed to prevent collapse among companies suffering from a liquidity crunch as auto manufacturers pare production.
The program is expected to be short term, with users relying on the support for three or four months, according to a person familiar with the plan.
Suppliers are starting to apply to GM and Chrysler, and can opt to insure their accounts receivable or have the auto maker accelerate payments for parts in return for a fee.
"It is a voluntary program for suppliers and from our perspective there appears to be significant interest in the program," said Dan Flores, a GM spokesman. "The focus now is to get the program up and running as quickly as we can."
Chrysler said its program, administered by Citibank, is available to suppliers that are incorporated in the U.S.
However, one senior industry executive said it remained unclear how much relief the program would generate, citing the 3% fee being levied on federal loans used to accelerate payment.
"There is a real cost - 3% is quite a bit for these companies to pay to participate," said Jim Lentz, president of Toyota Motor Sales USA, Inc. on the sidelines of the New York auto show.
About two-thirds of Toyota's parts makers in the U.S. also supply parts to GM, Chrysler and Ford.
Lentz said 100 of Toyota's 500 top-tier parts suppliers are in some level of distress, and 12 are in severe trouble.
-By Jeff Bennett, Maya Jackson Randall and Sharon Terlep, Dow Jones Newswires; 248-204-5542, jeff.bennett@dowjones.com
(END) Dow Jones Newswires
April 08, 2009 12:51 ET (16:51 GMT)
So...My dad calls me in a frantic state saying sell SIRI cause that Mad Money guy on Fox stated that their running out of money their borrowed money and BK is back on the table cause they won’t be able to get anymore. I guess this was on last night. My dad caught wind of this at the water cooler at work. I figure this news would have been big and stated here but nothing so I'm calling BS?
I (we) already know that SIRI is on borrowed money, do we know how much of it is getting burned through?
(Disclaimer: I'm not concerned with that Mad Money guy; he was entertaining on The Daily Show though)
Thank You Bear
what do you think it means for SIRI? Not sure, other than potentially reducing chaos in the auto industry, which should have a pos impact on SIRI over the next 6 months.
He meant cnbc right?
Not sure, why?
