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Morning ABC!!Quote:
Originally Posted by abcdarin
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.
Quote:
Originally Posted by JohnnyBBQ
Im not sure how they will be affected, but I have been watching the option activity the last couple of weeks and Dec & Jan Calls have had quite a bit of volume
Is this coming down for sure? Funny as in funny/strange that all this is hitting the fan on Friday. Ex div, possible royalty decision....what a bout FCC decision, isn't that right around the corner?Quote:
Originally Posted by imromo24
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.
@DencoQuote:
Originally Posted by denco1
What are you thinking about Friday? I am wondering if it is going to be a big sell off then price goes down to 2.65-2.60. Then the buying might start depending on the news.
Hard to say ABC. That is one scenario for sure. ANother is that we get favorable news on the royalties and they take it up hard causing a short squeeze. I can see both playing out. I have dry just in case but am holding the majority of my position.Quote:
Originally Posted by abcdarin
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 sharesQuote:
Originally Posted by denco1
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!!!!
imQuote:
Originally Posted by imromo24
I thought after the dividend announcement it was going to go through the roof!!!