Bullet Point – Watch The Open
It will be interesting. Looking at the per-market, it appears SIRI will open above $2.80. If I were a trader I would be selling and looking to re-enter at $2.80. If there is heavy volume down , I would look for $2.75 and so on.
This is big news but it does not change the overall dynamic of the company. Once absorbed we can see things return to normal.
Too tricky to trade. Market likes that Mel is leaving. We could hit $3 today.
Spencer… You got it wrong and it’s a good thing I followed my nose and my gut and didn’t listen to you. You also were wrong on your subs number you thought SIRI would pre-announce by over 100,000. Yes, you’ve also been right on many ocassions. And I do remember reading your comment about knowing one’s “tolerance for losses.” The problem I have with all this is you left out a big bit of info that should have been written by you for your readers to consider. And as a responsible analyst, which is essentially what you are — you really are supposed to put EVERYTHING out there so you can guide accordingly. NOT ONCE did you mention that, despite the volatility in AHs yesterday, that there is the chance that the Street/The Market may LIKE that Mel is leaving. You must have considered that, yes? Then why not write it?
Jessee….
The street does not “like” that Karmain is leaving. While the action did go north a nickel instead instead of south, the action is actually fairly neutral to the concept of a Karmazin departure.
Volume has eased, and we will see a normalized situation develop.
As to putting “everything” out there….I probably do that more than anyone else that covers this equity.
On subs…. I added 100k to my number to account for the guidance given by management regarding the used car market. Clearly that market is not yet that far along. It looks like it was more along the lines of 50k. Until we see the numbers and how heavy promotions were, it is hard to tell exactly what delivered the 445k. Many readers were looking for 600K again. I in no way saw that in the cards and got hate mail for putting out 525K