Morning ABC!!
They are consolidating it hard in this area for the next BIG move. Not sure what to think about the royalty rates decision coming down tomorrow. Funny how all this *stuff* has converged and seems to be coming to a head Friday.
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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
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!!!!
I have been wondering all along if those who have been long all year and have big profits would use tomorrow as their sell day once also locking in the dividend, which might represent a good buying opportunity. But they tied this in with the royalty announcement (if it comes) to make all of our decisions very tough. Then of course the MM's let it go yesterday after holding their knee on the neck of the stock for days.
:cursing:
:annoyed:Am I alone or did we all get routed from SWP to the new BJM site this morning with no clue over there as to what comes next? Anyway, over there I somehow located a "Registration" button where I executed that process (again, for the third time), and received a message that once I receive my "authentication" email I will be able to log on to the forum. I can hardly wait.:scared:
Me too, of all days, the first ever Ex-dividend date with what expects to be a tumultuous day. Is he clueless or what?
I hope "the boys" all show up here, I am all in and hoping to get back to holding for at least a few month or longer horizon. I sold my big, long (no not that) chunk of heavily leveraged SIRI back in April at the 2.40 peak, ka ching, and been in and out on the way up from 1.80, but ya never know with this stock. The ups and downs have been berry, berry good to me. Its been fun if not a bit stressful at times trying to catch the falling knife over and over again, but making bank doing it. I would love to just chill and sit back and what my balance grow for a while. A mans gotta dream.
SXMI
I have to admit I am worried about Friday. I am all in right now and was debating what to do (sell and buy lower to get more shares or just keep holding). My odds are I almost do it wrong every time. The damnedest thing is I can see it going either way. I have never been in a spot where i was so confused!!!
Charles....it seems checking the multi-quote is not working ? I know it worked yesterday when I used it...
Can you look into this.
Just looked at the NASDAQ Siri pre-market and I just love when they use four decimal places (big money):p $2.7801