SIRI Intraday Updates for the Week of 2/09/09

These guys continue to bash.......

http://www.todaysfinancialnews.com/u...odds-7620.html

Sirius: Cheaper than a scratch-off and just about the same odds
Today's Financial News - Posted February 9, 2009

Sirius XM Satellite (NASDAQ:SIRI) investors have their hands full once again. After a wannabe rally last week, shares have been on the decline ever since. Even more shareholder wealth will be destroyed this week.
By Andrew Snyder, TodaysFinancialNews.com

Baltimore – (TFN): It is a stock that will tease and trick you out of your hard-earned cash. It is sexy and alluring, yet it will take you out without a second thought. It is responsible for billions of dollars of destroyed wealth.
I sure hope you were not one of the folks buying shares of Sirius XM Satellite (NASDAQ:SIRI) last week on the news that an outsider was buying up the company’s soon-to-mature debt.

If you followed my advice, you sold your shares and ran from this dangerously speculative company. But if you went rogue and bought into the rally, you are sitting on some sizeable losses this week. Even worse, it looks like the losses will continue to multiply.

So far today, shares have lost over 7% of their value and are hovering at the $0.12 mark.
Today’s decline comes on the news that Sirius turned down an unsolicited deal made by EchoStar (NASDAQ:SATS) late last year. According to sources, the proposal would have been enough to pull Sirius out of its debt issues. Of course, it would have a new owner.

With just a week or so left until the company has its first round of debt obligations come due, Sirius has very few options if it cannot find a quick solution. According to the company’s controversial CEO, Mel Karmazin, Sirius has two options, bankruptcy or make a deal with EchoStar. That is not the kind of news a shareholder wants to hear. Either way, they will lose money.
This is going to be an incredibly volatile week for Sirius, with speculators trying to pull share price in every direction. Rumors will be all over the place. With expected price swings of 10% or more in the next few days, it is tempting to try to “trade” the company’s shares. But Sirius is so volatile and so unpredictable, you would have better odds betting on the ponies.
Shares of Sirius should not be traded on a stock exchange. They should be traded in Vegas.

It's just crazy how negative this has been spun. No one even mentions that the bonds are trading as if they will be paid and SIRI will not go bankrupt.......and that is the ONE thing that can be verified and is not "according to people familiar with the situation."

http://www.streetinsider.com/Insider...)/4371983.html

Charlie Ergen Reiterates His Interest In Sirius XM Radio (SIRI)
February 9, 2009

Satellite mogul Charles Ergen made an unsolicited offer late last year to take control of Sirius XM Radio (Nasdaq: SIRI) and was rejected, according to The Wall Street Journal.

Mr. Ergen's proposal was for one of his two satellite companies: EchoStar Corp. (Nasdaq: SATS) or Dish Network Corp. (Nasdaq: DISH) to inject enough capital into Sirius for it to meet its debt obligations and avoid a bankruptcy filing. However, despite this earlier rejection, Mr. Ergen has recently reiterated his interest in taking control of Sirius XM Radio.

Actually, Ergen is not trying to put Sirius into bankruptcy in order to reduce its debt-load and get a lower price, rather he believes that satellite radio would perfectly complement his television operation. Ergen likes that both are subscriber-based programming businesses that rely on similar technology.

Even if Ergen could gain control of Sirius XM Radio, the FCC may not look too kindly on this type of merger. The FCC may be against approving the marriage of satellite television and radio.

EchoStar began buying Sirius debt several months ago. However, it was only last week that EchoStar acquired control of a piece of Sirius's debt that could determine the company's future.

Mr. Ergen's move to take control of a crucial piece of the debt has cornered Sirius CEO Mel Karmazin. Mel Karmazin said that unless he can raise $175 million, he has one of two options: Sirius file for bankruptcy or SIRI cutting a deal with Mr. Ergen. The bankruptcy option probably would be the least attractive for shareholders as the equity would likely be wiped out.

ive completely tuned it all out now.

Count me in as one who bought the hell out of this stock last week.........

if i had money left over id be buying it right now.

Sorry boys, I bought more at .11, so we're probably going to close lower than that.

Fortunately or unfortunately, I forgot to transfer money into my account on Friday so it would be available today. Now, I have to wait until tomorrow to pick up the shares I wanted. Could this be a sign that I shouldn't be buying? Time will tell...

"In discussions with investors last week, Mr. Karmazin said that unless he could raise $175 million, he would be faced with one of two options: having Sirius file for bankruptcy or cutting a deal with Mr. Ergen."

That's the statement that keeps getting repeated in article after article, as if it were fact. The Truth: It would not be admissible in a court of law. The jury would never hear it. It's called HEARSAY. It's also called trash talk; it's pultrefied fetid BullSh*t.

Whoever wrote it (MATTHEW KARNITSCHNIG, pf the WSJ online, you can gth; you must be a graduate of Acme School of Journalism), \: Who are your so-called investors? What are their names? And what discussions are you talking about? You're obviously told what to write, so that you'll get a paycheck, and so you create crap like that to keep your lousy job.

Hear me out: The paper is Garbage. Lower than the New York Post. Beneath the National Enquirer. Just rumour and speculation to sell print. Trash, Junk, BS, progaganda horsesh*t.

Again, Murdoch owns this paper, and he owns Fox. You can't believe or go by what they print. Unfortunately, half the world still believes the WSJ is in the business of journalism. The reality is that era is long gone.

there are a lot of 100 share blocks running through, same ol stuff happening ;

patience

thanx for recent news demain

Quote:

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Originally Posted by nisvan

"In discussions with investors last week, Mr. Karmazin said that unless he could raise $175 million, he would be faced with one of two options: having Sirius file for bankruptcy or cutting a deal with Mr. Ergen."

That's the statement that keeps getting repeated in article after article, as if it were fact. The Truth: It would not be admissible in a court of law. The jury would never hear it. It's called HEARSAY. It's also called trash talk; it's pultrefied fetid BullSh*t.

Whoever wrote it (MATTHEW KARNITSCHNIG, pf the WSJ online, you can gth; you must be a graduate of Acme School of Journalism), \: Who are your so-called investors? What are their names? And what discussions are you talking about? You're obviously told what to write, so that you'll get a paycheck, and so you create crap like that to keep your lousy job.

Hear me out: The paper is Garbage. Lower than the New York Post. Beneath the National Enquirer. Just rumour and speculation to sell print. Trash, Junk, BS, progaganda horsesh*t.

Again, Murdoch owns this paper, and he owns Fox. You can't believe or go by what they print. Unfortunately, half the world still believes the WSJ is in the business of journalism. The reality is that era is long gone.

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That's what I want to know. Who the hell are these so called investors he's talking to? A bunch of nonsense if you ask me...

i hope i'm right in saying this, in that the only favor
the wsj did for us with that article is to create a buying
opportunity at .112 so that anyone who missed the roll up
last week to 18, has another chance to get in again at
a decent price

lot of .12 cent buys going in way above ask.

It is amazing (but not surprising) that various publications are getting on the bandwagon of bashing Sirius XM based on "sources" quoted in the Wall Street Journal. It's almost as if they are "reporting" just so to show their readers they are doing something.

There are "quotes" flying around that are not necessarily things that any person really said. For example, there is a "quote" of what Mel Karmazin supposedly "told investors last week" which is contained in the following paragraph:

With just a week or so left until its first round of debt obligations come due, Sirius is in a tight spot. As Karmazin told investors last week, the company needs to raise $175 million, and quickly. If it can’t it will end up either filing for bankruptcy or cutting a deal with Ergen.

Someone tell me, in the paragraph above, what Mel actually said. After all, there are no quotation marks anywhere. It does not say "Karmazin told investors last week." It says "as Karmazin told investors" So what (if anything) exactly did Mel say to investors (and who are these "investors" anyway?). Also, did Mel say "and quickly"? or is that an editorial comment on the part of the writer. Did Mel really say "If it can't it will end up either filing for bankrupty or cutting a deal with Ergen" or is that just another editorial comment on the part of the writer of the article. Even if one stretches one's sense of belief, if Mel said anything like what is quoted, Mel would not have called Sirius XM "it"; he would have said something like "Sirius XM" or "we."

So, with all this "news" floating around, perhaps Mel just said something to the effect of "We need to pay about $175 million in the next week or so." Gee, folks, we all knew that!!!!!

siri is doing its usual late day climb.

Prediction.......

SIRI closes flat to green today.......

Boy was I wrong...........OUCH! This stock has been so ****ing painful......

SIRI closed @ .11 ****ing cents..................101.5 M in volume.

its not easy to be in this stock right now :/

Quote:

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Originally Posted by nisvan

i hope i'm right in saying this, in that the only favor
the wsj did for us with that article is to create a buying
opportunity at .112 so that anyone who missed the roll up
last week to 18, has another chance to get in again at
a decent price

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I would not buy.... Wait, hold or whatever but don't even think about buying this week. This damn stock is too hot for amateurs... I'd buy the bonds but only at a discount.

Start buying the stock after 2/17... just make sure the company is not in BK. Stop accumulating after 2/23. THAT my friends, is the window of opportiunity.

Quote:

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Originally Posted by Siriusowner

I would not buy.... Wait, hold or whatever but don't even think about buying this week. This damn stock is too hot for amateurs...

Start buying after 2/17... just make sure the company is not in BK.

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Agree 100% ........ going after the cheap is not always good. Sometimes it is just damn foolish.

Quote:

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Originally Posted by billhart22

Agree 100% ........ going after the cheap is not always good. Sometimes it is just damn foolish.

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Exactly. The plan should be, "if you are in, stay in... if you are not, do not get in...". If you have a rash and want to spend that money buying stocks, here's agood one: CHK.... Or you can send it to me, lol.

I am out of SIRI positions...finally...and do not intend to get back in until after 2/17 and I have 13K burning a hole in my account but... better be sorry than dead. In the mean time I'll watch how CHK makes me money, I got in with a 1000 shares at $14.25. (Thanks for the web site Tripping... www.americanbulls.com).