Asking him now. good point. thanks. So homers take is they can pay off the loan, but those preferred shares are his, period. Correct?Quote:
Originally Posted by JohnnyIrishXM
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Asking him now. good point. thanks. So homers take is they can pay off the loan, but those preferred shares are his, period. Correct?Quote:
Originally Posted by JohnnyIrishXM
Exactly what it was and designed to let institutions pick up more cheap shares before the SP makes its move toward a dollar. Totally contrived IMHO. JohnnyIrish are you still accumulating shares for your core holdings? I almost added another 10K earlier at 42 but hesitated as they may try to push it through 40.
Guys:
Over the past week, Sirius had gained over 50%, moving from low 40s last Monday to the high of 63 yesterday. That is a hell of a gain in 3 days, and a pullback was expected. I get extremely tired of hearing the Cheerleaders when we have huge gains, only to turn into "Damn manipulation!" the next day when we have a pullback. It is called a NORMAL MARKET CYCLE.
Tripps: You hit on something when you were talking about the dip down into the 20s. You are seeing the EXACT SAME THING. You had a stock that had spiked from 13 cents to what, 35 cents(?), in a matter of 4-6 days. That is nearly a 300% gain, and to not expect a retracement was rediculous. It retraced down to low 20s, consolidated, moved slowly higher and then broke out again into the 40s, pulled back into the 30s, consolidated, moved slowly higher, and then broke out again into the 60s this time. Now, it retraced to the low 40s, and will consolidate, move slowly higher over this week and probably next, and will break out again on Q1 report. 42 should NOT be morned, it should be CELEBRATED as a buying opportunity. 42 is SUPPORT. It will consolidate in this level and move slowly higher until it's next breakout.
There are not always the boogymen under the bed. Sometimes it is normal market conditions and cycles that move stocks.
Amen, brother, amen! Absolutely correct!Quote:
Originally Posted by Newman
Just a question,
All the hubbub about Reverse split affecting the stock. Why would it in the long run?
The value of the company doesnt change ... the value of your stock holding doesnt change.
The only thing it might help is institutional investing and stop some short activity(maybe).
As a long Why should I really care? It might take a hit short term with people freaking out but the value would correct after a small amount of time ... just like we are correcting now(albiet drearly slowly).
With that said .. they need to do it with strenght though
I'm with you there - its an 800% gain from the 0.05 low!! Tabor - I'll send some links after I get to work - but its not a system per se - that you have to come up with.Quote:
Originally Posted by Newman
Hey Newman, I have some property on the moon Id like to sell you. I wouldnt mind a pullback, if it wasnt generated by a fake news story, and the worst timing Sirius management could possible have to release that information. AH on a Friday... Perfect, after it held .50 cents all week. Then release it. Timing is everything. If you dont believe in manipulation, you should sell all your stocks, because your living in a dream world. Normal market cycle? A 22% gain in a day, does not become a 5% loss in any normal trading day, news neutral. Doesnt happen. Now if your saying we should expect at any time a fake BK news article can hit, or Sirius will dilute again at any moment, you cant prepare for that. You have to go with what you see. And we were in an almost unstoppable run to close yesterday in the .60's or high .50's. Then a pullback sure, after it failed to break resistance again. To reverse the sentiment in this stock was simply done my manipulation and Sirius Management. SO thank Mel, and that news wire story for why we couldnt close where we were headed for yesterday. Not a normal market cycle.Quote:
Originally Posted by Newman
I NEVER said we would break .63. But to close yesterday at .48 is a complete joke. And todays action is not surprising based on yesterdays bs.
Just read all of the posts...good stuff...some siriouly salty people out there...I can understand when a 2 day 35% swings comes down the pipe. LOL
Tripping, I am glad you mentioned my name, for that I will lay off the gas and leave the hatchet in the shed....lol. Selling in the .59-.63 range was nice, I must say. I did make a few bad moves yesterday, I should have sold 30k @ .59 and not picked up 10k @ .54...so we all make mistakes that is what life is all about. What we do next is most important. I have 6k of unsettled cash and will look to strike while the irons hot, tomorrow, the first sign of a take down, and it will come, you can bet your ars on that, Mid to high 30s looks like a good entry point for me. Good luck all and next time we approach the .60 mark with no news to justify a run, please sell I beg of you. You can always buy back in later...I see a few posters reiterated my screaming sell yesterday, ty.
20% move in one day is a screaming sell, I don't care if its your primary residence!
Sincerely,
Alone in rights ville.
Yes correct.we are married to liberty for better or worse!!!lolQuote:
Originally Posted by relmor2003
airman: You are correct. Technically, it changes absolutely nothing. It is only mental blocks that make a R/S bad news.
Lets take yesterday's move. It jumped from 50 cents to 63 cents, a 26% gain. After a 1-10 split, it would have to go from $5 to $6.30. That is the exact same gain, but much more difficult to do because of the dollar value. Again, it is a mental game.
For those long term holders here that did not average down and still hold their core at a high PPS such as $3 per share? Right now, they have to jump $3.60 in order to break even. After a 1-10 R/S, they would have to jump $36 to break even. Again, exact same percentage basis, but to go from $4 to $30 looks much harder to do than to go from $0.40 to $4. Its a mental block, and one that not only shareholders have, but analysts and the street as well.
You are also exactly correct that the RS needs to be done with STRENGTH. A R/S occurs 99% of the time with troubled companies looking to avoid BK or delistment or both. That is exactly what Sirius is going to be doing it for, to avoid delistment. (if it happens and rules don't get changed of course). It is a sign of DESPERATION in nearly all circumstances. There are very very few companies that have done a R/S successfully and made their shareholders money afterwards.
That being said, I do think that it is necessary. They cannot reach an acceptable trading level that would entice large funds and institutions to buy in without it. They would need to get to $5 per share in order for this to happen. Already at 60 cents per share, the market cap was 2 billion. If no more dilution happened, a $5 stock price would equate to approximately 18 billion dollars. Sorry, but I honestly do not think the company is worth THAT much right now.
And before anyone mentions it, they cannot buy back shares until all debt is paid off. They have 3.2 billion dollars in debt, and only expect 300 million in earnings this year, and according to their last estimate, 600 million next year. They will not be paying off all debt any time soon.
Had similar moves in this trend that didnt reverse like that however. Weve held gains in double digits on every occasion. People are forgetting.....Quote:
Originally Posted by Big Ben
The .40 to .22 cent take down came AFTER it closed near resistance, not the SECOND it hit it. The second take down came the very next day I believe, and it also closed around .34 that day. Again, NOT ON AN UP DAY. You cant reverse a 22% gain to a negative simply by hitting a 200 DMA. Not technically sound charting. You would be called insane if you predicted a 22% move, and a close down 5% off no news.
My problem isnt with the retrace, or the failure to break .63, its the dramatic takedown after it hit .63. And its failure to close with buying pressure, seen all day. They reversed huge buying pressure, and MANIPULATED that to selling pressure, by the end of the same day. How? Fake news, and Sirius Management. Now if you think Sirius acted in a normal trading way, then please look at my moon brochures.
No. I'm done adding now,started with 30k at $1.44 in August of 08 and have avged down to 400k shares at .26 with last being doubling down of 200k shares at .135 in march 09 right after liberty deal announcement.Quote:
Originally Posted by siriusonthego
added at .50,.25 and .19 before that...that is my limit for this stock..
While the value is inititially the same due to the mathematical equation, the market typically views an RS with disdain and the stock quickly succumbs to the negative stigma attached to companies that do RS and SP drops, because there's no good reason to do it if your company is doing well. Only reason is to prevent delisting from the exchange. I've read that with few exceptions, companies that do an RS tank, and many go out of business shortly thereafter (not due to the stock price dropping, but because they were in trouble in the first place. I think I read somewhere that Priceline.com was one of the exceptions...it bounced back after RS.Quote:
Originally Posted by airman
Hi, I am a happy camper. I don't mind the ups and downs because you can make money faster and increase your position every time you rebuy.
With everything other then SIRI I only try to make 100.00 per trade in one or two days and then trade a new stock. Today FNM made 162.00 (bought yesterday sold this morning)
My entire agenda revolves around giving mommy 1000.00 per month so she lets me continue to play. (33.33 profit per day)
We all know SIRI is eventually going to pay us off
Hi, WOW good job. You must laugh yourself to sleep every night. Congrats on getting through Dec-Feb time frame when it must have weighed on you.Quote:
Originally Posted by JohnnyIrishXM
Relmor, if you honestly believe that the fake news story that was OBVIOUSLY fake and would only be believed by individuals who were idiots caused 200 million shares to be traded, then I need to start taking advantage of idiots because they have a shitload of shares.
You wouldn't believe it, I wouldn't believe it, and anyone with a quarter of the knowledge that any one of us here has would not beleive it. Only people who do not follow the stock on a regular basis would believe it, and do you really think there are 200 million shares worth of these people who just HAPPENED to look at the news for their stock yesterday? I have a condo on the moon for you my friend...
Yes, I believe there is manipulation. Yes, the news story yesterday was complete crap. The SEC filing from Sirius was filed with the SEC at 4:35 pm Easten time, which means that only those with insider information could have affected the stock price (which can, does, and probably DID happen, but not nearly to the extent you are suggesting).
Again, even without yesterday's run up to 63 and assuming the close on Friday at 50, the stock was up 25% in 2 days. Not expecting a pullback was rediculous.
You contradict yourself. You admit to manipulation now. You blamed it, but you dont want us to be mad? Ok man... Your right, we should be numb to it by now. Yes, retrace was expected, but did you put a buy in at .485 for the close yesterday? Of course you didnt, because no one at 11 am MST yesterday(2 hours before close) could have dreamed up a close of .485 in their wildest dreams. The most negative buys would be placed at .50 cents, but more likely .52 cents. Im sure a ton of buys at .56 cents felt pretty decent that they might get that as a close. Then boom. Yes, I do believe people are that stupid. Yes. Happened last year. An airline lost 50% of its value in 5 minutes because of a simliar "mistake". SO theres your answer. Yes, people are THAT STUPID. And when your a MM, waiting for the BK story to hit, ready to add pressure, the effect is NOT SURPRISING.Quote:
Originally Posted by Newman
When I show you on the chart and add the exact time of the BK story, you will be mad too. It was RIGHT as it was crossing resistance again at .56 cents. Buying pressure was down a bit at that point. MM's were ready. They knew the next blow would be the final nail. I believe they felt they needed both stories to make sure they could hit .40 again. That rally was THAT powerful.
Thanks Johnny. I also still hold my 255K shares @.32 avg. I would love to add more though. Just trying not to raise that avg. too much. We have had a decent run recently and some pull back was expected, however the trend is positive overall and so I am sitting on the fence to see if they will take it down toward the end of the day. I will be a buyer if they drop it below .40.Quote:
Originally Posted by JohnnyIrishXM
I was never really worried about BK alot,hence i found this site and educated myself better about the merger,didn't realize about the ugly finance deal to merge...Shouted from the roof tops in feb to buy and no bk in play,also put my money where my mouth was.LOL but remember any money invested in the market should be money you are willing to lose completly,allows you to sleep better,well at least better than if you couldn't afford to lose it..Quote:
Originally Posted by mogami
Nice also,good job..now we need it to get to $2.50 by this time next year and we can sell it all for low taxes and move on...Quote:
Originally Posted by siriusonthego