Level 2 action today, if anyone wants to be depressed

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03-09-2009, 05:09 PM
Wirestripper

Quote:

Originally Posted by choirgirl

You are absolutely right, we have to be patient. Bought another 10k at .145 .
Then I saw another Motley Fool article and wanted to open a vein.
Why are these people doing this ? What is there goal ?
One lousy sentence about the done deal, then hammering about 15 % interest the company will never able to earn, 25mil. principal each month, most of the loan must be paid back 09 and 10 and not forget about the FACT that the consumer very soon will cancel any sub, because there is the free internet radio.
I am sorry guys, I know we went through this before, but it still drags you down, again and again.
I would appreciate if anybody has something positive to say regarding that MF-article.

The Motley Fools are exactly what their name and initials suggest!!!

Fools and MF'rs.............('scuse m French):p:p:
03-09-2009, 05:41 PM
OldDruid

Quote:

Originally Posted by Wirestripper

As to those 100 blks......

I can't say exactly what they are, but most probably they are options that are clearing. options are bought in 100 share blocks and when a put or a call clears or is exercised, the trade looks like a thousand killer bees cruising through the last sale chart.

Thanks, I had always wondered, but with no options exposure would never have guessed. I also see scores of blocks of 1000 from time to time. Sometimes there are 20 to 30 blocks of 1000, on the bid, the ask, sometimes both, all placed within milli seconds of each other. I there anything that typically trades in blocks of 1000?
03-09-2009, 05:49 PM
Wirestripper

Quote:

Originally Posted by OldDruid

Thanks, I had always wondered, but with no options exposure would never have guessed. I also see scores of blocks of 1000 from time to time. Sometimes there are 20 to 30 blocks of 1000, on the bid, the ask, sometimes both, all placed within milli seconds of each other. I there anything that typically trades in blocks of 1000?

Not that I am aware of, at least not specifically.

I would guess that the MM is breaking up a trade between various other exchanges or seller/buyers. I don't know for sure, but it seems logical that they could bundle ten 100 share options. I just don't know enough about that end of the trade.

Brandon was a broker....he might know.
03-09-2009, 05:52 PM
nisvan

Quote:

and not forget about the FACT that the consumer very soon will cancel any sub, because there is the free internet radio. I am sorry guys, I know we went through this before, but it still drags you down, again and again.I would appreciate if anybody has something positive to say regarding that MF-article.

not to worry: as long as music and airtime cost money (meaning, as long as there's royalties, and as long as it costs money to broadcast), whether by satellite, internet, or am/fm, there will be a market for commercial free subscription radio
03-09-2009, 05:54 PM
OldDruid

Thanks. I need to study options. I have always heard they could be dangerous. One colleague lost in the six figure region during the NASDAQ era, and he is sharp, so I just stayed away.
03-09-2009, 06:17 PM
Brandon Matthews

Quote:

Originally Posted by Wirestripper

Not that I am aware of, at least not specifically.

I would guess that the MM is breaking up a trade between various other exchanges or seller/buyers. I don't know for sure, but it seems logical that they could bundle ten 100 share options. I just don't know enough about that end of the trade.

Brandon was a broker....he might know.

"This unsophisticated investor failed to understand that an automatic execution caused the transaction for 100 shares of a stock selling at two cents per share. This was a partial fill from a larger order but was misinterpreted as a completed trade. These transactions are often blamed on MMM but result only from a buyer�s failure to place an all-or-none order."

Got that from an article. Unfortunately, the MM's in SIRI's case are using this perception as a means to justify their manipulation. In SIRI's case, the 100 share trades are ALWAYS executed at at lower price than the current bid/ask. They are always run in succession; for instance you will see 10 - 100 share orders filled below the bid/ask in a row.

Because of the low price and high volume, the same can be done with 1000 share trades All smoke and mirrors. +

On another note, any UP day is a good day!
03-09-2009, 06:27 PM
AmenhotepIII

Brandon is that article suggesting that it is always good to check the AON box? Seems to me that as long as the limit order goes through at the price I set why do I care if it's in 100 share blocks or all or nothing?

Just curious. I posted in another thread when a .135 order of mine went through most in even chunks of 100, 200, or 1000 and it didn't matter to me.

I guess if it is a market order it's more of a concern, as that guarantees execution not price?
03-09-2009, 06:33 PM
MyMDX08

hello all...

i'm a newbie at investing and i just bought 1k shares of SIRI today... :googley::scared:

....
03-09-2009, 06:45 PM
Paratrooper_Rick

Quote:

Originally Posted by MyMDX08

hello all...

i'm a newbie at investing and i just bought 1k shares of SIRI today... :googley::scared:

....

Welcome to our house of horror. SIRI is possibly THE hardest stock in existence to understand - you have essentially jumped off the proverbial cliff.

Luckily.... you are not alone.......

I am relatively new to this board - I'll tell you this - if you have any hope at all of understanding the underlying facts behind SIRI - you'll find the answers here - and probably no where else. It's a very well balanced group.
03-09-2009, 06:45 PM
Wirestripper

Quote:

Originally Posted by Brandon Matthews

"This unsophisticated investor failed to understand that an automatic execution caused the transaction for 100 shares of a stock selling at two cents per share. This was a partial fill from a larger order but was misinterpreted as a completed trade. These transactions are often blamed on MMM but result only from a buyer�s failure to place an all-or-none order."

Got that from an article. Unfortunately, the MM's in SIRI's case are using this perception as a means to justify their manipulation. In SIRI's case, the 100 share trades are ALWAYS executed at at lower price than the current bid/ask. They are always run in succession; for instance you will see 10 - 100 share orders filled below the bid/ask in a row.

Because of the low price and high volume, the same can be done with 1000 share trades All smoke and mirrors. +

On another note, any UP day is a good day!

Brandon I see this phenomena on other stocks, and not just SIRI. The 100 share lots get intermingled with other trades sometimes and it looks like the SP is affected, but they are really trailing. It's just that SIRI is so screwed emotionally by those who hold it.

If there is actual manipulation, I sure hope the SEC sees it and stops it, but I can't imagine it being manipulated day in and day out for months and months and months without a case being prosecuted or a warning at least from the SEC.

Today,It traded just like the overall market, which is in a small way a good thing.I see normalcy in the past few days. I think we have seen the bottom for the time being and are getting poised for a relief rally soon.

I that happens, more buyers will come in from the cold and things could improve. Then again we could take another100 points off the S&P.

A lot depends on the Keynesian bi-polars who are now holding the steering wheel.

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