Maybe…Last nights SiriusBuzz Radio show may prove to have been very enlightening. During the show a certain gentleman called in making claims that he managed a hedge fund and was calling from the Caymans.
The caller claimed that he and other hedge fund managers had received instructions yesterday by “Jonesie” of Goldman Sachs to not only cover their short positions in Sirius XM but to now take “long” positions in the equity. As the host of last nights show and having participated in several others, I can attest that this person has not called into the show previously.
Certain statements he made were in fact backed up by the price action of the stock on the 28th. Also some mention was made of positive company news expected next week from Mel & Co..
I want to caution the reader that these statements may or may not be true. Only time will offer the answer as to their validity. Buying stocks on such rumors can often lead to disaster as anyone could use the radio show to manipulate small retail investors. In fact I am writing this for the sole purpose of making that point clear as I have noticed the news of this call has now been leaked to message boards.
As one poster put it, you are either long, or you’re not. If you are long, and the information provided by the caller proves to be true, great! But beware, a rumor is not a reason to buy a stock. Fundamentals and Technicals are the only reasons. For those that missed the show, you can hear a replay at SiriusBuzz Radio. The call in question occurs at 34:30 into the show.
Position: Long SIRI, no position on GS