Goldman Sachs Bullish On Sirius?
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
Yeah, it’ll be interesting to see if it dips below the magic number of 1.31. If that happens, it could scare even more to sell….
but if you’re going to speculate, it could be EXACTLY what a institution like Goldman Sachs would WANT to happen leading up to Mel’s conference call if they were planning to cover and go long.
Get one last panic drop in.
Lol. But then again…WTF do I know? LOL…I’m just a another long speculating.
noe joe…1.50 would be a buy signal…I would update you after that on the immediate trend following…but I think we wil be in this trend until the questions are answered.
frigginreagan, as far as volume is concerned, other than Tues., Aug 19, 117 mil sh and yesturday’s 80+ mil sh, for SIRI the volume has been between 25-50 mil sh / day, which is fairly light for this stock since the merge. I would expect high volume today regardless of the BS caller because “Shorts” in conflict are closing their positions prior to the long weekend where any news could jeopardize their current gains.
Has anyone heard from Mel on a conference call to provide some guidance and all the rest??
My only question is if so many shorts are covering….why would we be going down?
Speaking as a broadcaster… I’d be careful with airing callers like that, without being able to verify their validity — even if it is just an internet radio show.
While internet and radio broadcasts are considered somewhat different — internet radio isn’t held in the same regard as broadcast — something like this could be considered fraudulent, if not handled properly. A host must imediately indemnify the broadcast and host from the caller, telling the listener that they can not verify the callers validity and whether or not the caller is legitiment. Even just allowing a caller to pass on questionable info can land a host/show in trouble. You’d be surprised at how many DJ’s have lost their jobs for allowing stuff like that to happen.
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Bradon I understand it would be a buy at 1.50 but at 1.55 1.60 there are o,s not x,s that would be a sell right. Look at your trend chart.
Homer, personally I don’t think it’s a big deal…and for the record, Brandon DID bring up doubts and underscored the fact about not taking ANYONE’s word as truth right off the bat.
That being said, who really cares? I mean really? The stock price is at a virtual bottom. Whats the downside risk? Not much if you ask me. And besides…anyone who listens to Cramer….let alone an anonymous caller from the CAYMAN islands and takes what they say as gospel has no one to blame but themselves should anything go wrong.
joe
As of now, because 1.30 has not been hit, there have been NO changes to the chart. It remains exactly as I presented it 2 weeks ago in a line of X’s. 1.50 would be a double top breakout and my target would then be 2.25.
http://siriusbuzz.com/sirius-x.....-stock.php
frigginreagan, my comment was that “shorts” in conflict which I define as a large number of traders moving in “short” and out “shorts covering” at the same time, throughout the day. The net effect is a few pennies either way, a lot of commissions, and above average volume.
i see
friggenragen and cos1000, great points above. I’m loading up on cash but won’t pull the trigger ’til upside confirmation. Last night chatting on the show I asked if cayman could be vetted. I’m HIGHLY skeptical–eager–but skeptical and holding until indicators line up….
PS: I’m FNG from the show….
thank you Bradon. I went to the site you mention on that post to try to take in some of it but it didnt click .not yet anyway. thankyou anyway keep up your posts always looking forward to them.
Also, interesting how from 11:38 to 1 p.m. (local CST) the SP bounced three times from 1.32 …
To tell you the truth the only person I want to hear from now is Mel.
For the last 18 months we have all been a little shell shocked.
Everything positive had a negative reaction.
Confused the hell out of most of us.
But we also know that there are alot of people out there that have means to play the market a little better then most of us here.
Most of are just along for the ride.
I love the product,and Management should shine. I’m pleased to be a Sirius/XM subscriber and share holder.
Sirius/XM. LONG
Great job with the show Brandon
joe..
the only “trick” to this type of charting is that it does account for every little tick, and takes out the emotion of trading..
No reversals are made unless the stock reverses direction by 3 points. In this case, it MUST hit 1.30 in order to begin a new column of O’s.
So as of now, the column of X’s is intact.
Brandon, anything on something coming due on the 27, Aug, 2008 that could require the purchase of 200 million shares?
Brandon, FWIW The title of your article is somewhat, and I minimize, sensationalist in nature. Given the negative impact that GS has had on the Stock Price the title draws in the news hungry and then leaves them with very little but a rumor. You could lose a loyal following with this type of hype. Just my opinion.
Lord help me. I just accumulated MORE shares.
When there was no “pop” as Mr. “cayman” predicted(as I expected!)….I was non the less impressed with the way Sirius held firm to the established bottom going into a 3 day weekend.
I have a long position in Sirius…and I plan to use these newly acquired shares to trade the 1.30 to 1.50 channel and short term volatility. Hey…it’ll be cathartic to actually get the satisfaction of making SOME cash with Sirius for a change.
I’m looking forward to the run up to Mel’s post Labor Day conference call.
Depending on what transpires I will cash out these shares on any pop or perhaps keep em long with the rest of my shares.
Oi vay!
Anyway…have a great weekend all.