SIRI Intraday Thread: Tuesday April 21

[JohnnyIrishXM]

forget last post,thought you meant national sales tax..

[Doctor_G]

As far as I'm concerned, "Daytrading" in many ways is a lot like gambling in Vegas or Atlantic City. I applaud the folks who today brought up Uncle Sam, in regards to the dreaded tax consequences which fall upon all daytraders. Once they "Pop" (the Daytrader), on a sell, Uncle Sam is taking his lofty cut...regardless as to what that daytrader does for the rest of the yr in the market. The tax aspect is what rightfully turns most people away from daytrading. I would venture there are more folks that lose their shirts when daytrading then those who actually break even or turn a decent profit. Too risky a venture for my taste.

[stkdn]

I doubt it.I don't see any kind of rally. I actually think we are headed back to the 30 cent range.They are short selling this stock to death.Shorts rule again... What a thought,after having been holding this stock forever,I was finally beginning to think I would see green for a change.I bought at all price ranges trying to make something good happen.. I have a long way to go before I ever get even. I will be older and grayer than ever before that happens.

[mogami]

Oh mog that 2.5% large commission for %hitbuilder must've eaten you alive. I can only imagine seeing I got smacked upside my head with a $144 commission when I sold 9600 shares yesterday. I'm so looking forward to tda.

Hi, OH yeah, the thing that makes me knock my head against the wall the most is when I think how long I stayed over there. If if if.....If I had moved in December I would be a wealthy man now. Aside from the comissions ING cost me more then I can compute because of their site going down at the wrong times. (go to order a market sale at .45 but because site is down price has fallen to .28 by the time I actually get to enter it.) ING also only allows 2 digit limits.

[JohnnyIrishXM]

not a flat tax. that's a different animal. This is called the Fair Tax which is a fed sales tax collected by retailers on everything you buy. everything. So, the rich don't get out of it. No one does. Even criminals pay because they buy stuff too! Corp tax structure stays the same. They still file and IRS still deals with them. It would be great for our economy! BTW...the poor get quarterly rebate checks in this system to compensate for the fed sales tax they pay for stuff.

Yes disregard my post,but in this deficit ridden economy you could never have a flat tax,as it would dismantle the accounting buss. and lawyers and the irs and all the ancillary economies surrounding the tax code ..plus it would
lower rev for the federal gov't for about 2-3 yrs as you would take a huge hit from the middle class not paying enough,depending on the % rate..that is the simple reason,have seen reports on it..now if we can balance the budget(laughing as i type this) then it could happen feasibly..

[JohnnyIrishXM]

[Relmor]
Was reading your asking Brandon about Dec liberty deal time line,,SiriusXM had until April 15th to complete Liberty Phase 2 part of deal(which they did)
and only if it wasn't done by then the Dec 2009 timeline is in effect..
so it is now irrelavent,we are married to liberty!!!

[underway]

Yes disregard my post,but in this deficit ridden economy you could never have a flat tax,as it would dismantle the accounting buss. and lawyers and the irs and all the ancillary economies surrounding the tax code ..plus it would
lower rev for the federal gov't for about 2-3 yrs as you would take a huge hit from the middle class not paying enough,depending on the % rate..that is the simple reason,have seen reports on it..now if we can balance the budget(laughing as i type this) then it could happen feasibly..

Agree that the lobbyists for lawyers and accountants are fighting it....bad for them for sure. But good for the rest of us. True, slow economy means less tax revenue, but that is true whether it's income tax or a fed sales tax. Bringing the undergound (currently non tax paying a$$holes) economy on the tax roles (cause even criminals need to go to the grocery store and buy stuff) is huge. and, no more loop holes for the wealthy either. everyone pays! and net net..those of us who pay huge tax now, pay less. And, you get to keep EVERY nickel you make. No more withholding!

[mogami]

Hi, One more thing that gives me peace of mind. I recovered all the cash I put into the market when we hit .28 so since then everything I have done I have done with funds provided by SIRI. I no longer worry when it goes down since I know it will go back up again. Just like Fannie and Freddie. When I see them in the .70's I buy because I know they will see the .80's (or higher) again.
Of course I have been ruined as a buy and hold investor. I have too much fun at night looking for stocks I can make 100 bucks from the next day. I even hate weekends now because there is no action. It's a game and the money is how you keep score.

[john]

I admit that there is manipulation in the market, yes. But I do not blame it TOTALLY for yesterday's drop in price, or todays. No, I did not predict a close of 48.5, but I did predict a drop today into the low 40s. Even posted it as the very first post in this thread, and put in a limit order last night for 42 cents per share, and it hit.

I knew there would be a steep retracement. I have been picking up here and there a little bit about technical analysis... you know, that stuff you are so keen on? Well, if you look at a simply 5 day chart, you will see something that most TA people hate: Lots of gaps. Yesterdays action created a large gap from close friday of 50 to the open monday of 55. That gap needed to be filled, but no, I did not think it would be filled the same day it was created.
There is also a large gap from 4009 to 44. Today, that gap filled. I wanted to put my order in right at 40, but figured I would split the two and go at 42. Should have stuck with 40.

Newman, me to but my reason for lowering my buy price was finding out about the additional dilution this early morning. After reading the filing I changed my buy bid from .44 to .42 then took a nap. Woke up to find out it went through (god dam it). It was not to much a surprise at that point though. I dont care dilution is dilution and to be frank here, people are sick of it. The last time was so they could pay off debt not use it as a fee to get the money. So people are wondering now what are they going to use this for. As said I dont mind dilution as long as it was to pay off debt that did not happen and we got yanked. So it would only be natural that people are going to think they are going to get yanked again. So what do they do, they sell.

[Jworld]

Hi, One more thing that gives me peace of mind. I recovered all the cash I put into the market when we hit .28 so since then everything I have done I have done with funds provided by SIRI. I no longer worry when it goes down since I know it will go back up again. Just like Fannie and Freddie. When I see them in the .70's I buy because I know they will see the .80's (or higher) again.
Of course I have been ruined as a buy and hold investor. I have too much fun at night looking for stocks I can make 100 bucks from the next day. I even hate weekends now because there is no action. It's a game and the money is how you keep score.

Pretty good take and i agree. Greed took the best of my yesterday and i didn't get out and take my profits like i should have.Oh well, live to trade another day.........