http://www.zimbio.com/The+stock+mark...+Rebound+Piper
Piper Jaffray analysts are rating shares of Sirius XM Radio Inc (NASDAQ:SIRI) as Overweight and can see investors buying it ahead of the decision on how much the royalties will be. The rates will be determined after Sirius XM and SoundExchange, a performance rights organization, argue their cases in front of the three judges on the Copyright Royalty Board. They will consider the testimonies and set a benchmark rate, making various adjustments to set a rate that will be effective for five years. That rate is expected to be set no later than this Friday and will begin next year.
This time around, SoundExchange is attempting to secure a 20 percent increase from the current 8 percent of revenue. Sirius XM is trying to get a 5 to 7 percent reduction in the rate. Piper Jaffray expects the rate will be a modest increase to 11 percent by 2017.
I definitely find it odd all of this converges. ( Ex div the day of the decision)
Yesterdays action played the whole channel on my chart between 2.72 and 2.79. A day with a low of 2.79 should spark buying. It did last time but I guess the insider sales broke the momentum
Overwhelming opinion weeks ago was that we have nothing to worry about, I expect a pop and squeeze. But cautious due to the weird downturn after the dividend announcement. Hopefully it was meant to confuse retail and steal cheap shares
Im also worried about the 50 day on the weekly chart though
Last edited by imromo24; 12-13-2012 at 12:26 PM. Reason: 50 day not 200 day
It seems that we always have our good news come at bad times so we end up going no where. But I guess that is better then going down. We are strong and we need to pop!!!!