SIRI intraday Wednesday 06-03-09

[Sirius Roadkill]

totally forgot about this Faber interview from Aug 1, 2008 . . . so I guess the satellite launch will be a capex in Q-3 (August launch):

Faber: -- BUT LET'S TALK ABOUT THE FUTURE HERE.

Karmazin: AND I THINK THAT IS THE FUTURE, OKAY? I THINK THE FACT THAT WE HAVE IDENTIFIED IMMEDIATELY $400 MILLION OF SYNERGY ON VIRTUALLY EVERY LINE ITEM OF THE P&L, SYNERGIES THAT WE ARE VERY, VERY CONFIDENT TO BE ABLE TO DELIVER NET OF THE COST BEFORE 2009. SO WHEN YOU TAKE THAT SYNERGY AND YOU ADD IT TO THE COMBINED COMPANY, YOU GET, FOR THE FIRST TIME, POSITIVE EBITDA. NOW, IN MY OPINION, POSITIVE EBITDA ISN'T THE SAME THING AS MAKING MONEY.SO, WE'LL HAVE $300 MILLION OF EBITDA IN 2009, AND BUT FOR A PAYMENT CONNECTED WITH THE SATELLITE, SIRIUS IS PUTTING UP A NEW SATELLITE IN '09, AND WE HAVE ONE PAYMENT -- BEFORE THAT SATELLITE, WE WILL BE FREE CASH FLOW POSITIVE.

Faber: OH, MY GOD, FREE CASH FLOW POSITIVE. YOU KNOW HOW MANY TIMES I'VE BEEN ASKING YOU THIS QUESTION, WHEN ARE YOU GOING TO BE FREE CASH FLOW POSITIVE? SO ARE YOU ANSWERING IT OR NOT?

Karmazin: I'M ABSOLUTELY ANSWERING IT, AND WE WOULD HAVE BEEN FREE CASH FLOW POSITIVE AT SIRIUS, FOR SURE. IT WOULD HAVE TAKEN US LONGER, BUT ONCE THAT PAYMENT IS DONE IN '09, YOU SHOULD THINK ABOUT SIRIUS AND YOU SHOULD THINK ABOUT VALUING SIRIUS. YOU KNOW, WE CAN TALK ABOUT WHAT THE COMPANY COULD BE WORTH OR ISN'T WORTH, BUT WHEN YOU'RE GOING TO VALUE OUR COMPANY, YOU'RE GOING TO VALUE US ON FREE CASH FLOW, BECAUSE THAT'S WHAT WE'RE RUNNING THE COMPANY FOR. AND THIS COMPANY COMBINED IS A COMPANY THAT WOULD GENERATE A LOT OF FREE CASH FLOW, AND THAT FREE CASH FLOW IS GOING TO CONTINUE TO GROW.

[trippingthespeculatingpos]

really i see 850,000 at .31 and .32 ill say it again level 11 is misleading sometimes.

[Gallep]

really i see 850,000 at .31 and .32 ill say it again level 11 is misleading sometimes.

With a stock as active as SIRI, I doubt Level 2 can keep up with what's actually going on.

[trippingthespeculatingpos]

look at all those shares trying to buy in at .32, there never gonna get em thoug at this level, barely any1 selling.

[JohnnyIrishXM]

really i see 850,000 at .31 and .32 ill say it again level 11 is misleading sometimes.

Your right because free site only goes down 10 places,but it is first time on that ,rthere bwere no big buy orders..after i typed it a 650k bid showed up.

[trippingthespeculatingpos]

well people still giving their shares up at this level, until they stop we will sit here while every1 accumulates the weak hands shares.

[trippingthespeculatingpos]

look at l2 all those shares show up immediatly when we hit .32 other wise they are not there. hiding it so it looks like no buyers. i dont see how they think its gonna get filled here. if we stay here long enough they might get it done. but damn i dont see that many being sold at this level.

[JohnnyIrishXM]

Agree,if they want alot of shares they will have to take it up to .40 at least,for millions of shares that is..
This is all the day and swing dips AND POPS TRADERS SELLING AND BUYING HERE..

[trippingthespeculatingpos]

well we just crossed the 200 sma on an intrada chart, if u pull back a few months its higher. not sure why but im sure it has something to do with the math.

[relmor2003]

well people still giving their shares up at this level, until they stop we will sit here while every1 accumulates the weak hands shares.

Tripps, did you notice the buying picking up at .32 and .31. They want in at these levels, but they are holding back, playing bait and catch. Trying to convince people .32 wont hold, they sell at .321, hold it, send it up and down, and wait for more suckers. I have said this before...
When you see MM's jumping each other, and all having huge blocks up, they are buying, and you should be too. Might not pay of today, or tomorrow, but very shortly it will. I buy when the MM's are buying, or after a huge drop.