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

i am all sure you all recall the friday that the FCC approved the merger. the deal was not actually signed until sometime on that Sunday. It takes a few days for the attorneys draw up all of the papers and for the parties to agree. On that Sunday the deal had to be signed caus Mel feared an appeal. this time around, Mel has the luxury of until sometime on Tueday.

if anyone of you have been involved in a large transaction, then you would know that any announcement prior to the actual signing of a deal could wreck that deal. same here. also after the FCC appproved the merger, mel said nothing until the contract was signed

Tuesday can't come soon enough...

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Originally Posted by RMAN

I believe that these was debt that was shorted, if this debt is payed off; don't they have to buy the shares off the open market?

I think these shares would be retired as well.

Any thoughts?

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The debt that was shorted in the infamous "ugly" financing deal is due in 2014. The shares were "lent" with the purpose of shorting the stock. Those shares will be out there until 2014 more than likely. Check out the 8-K from August 4th for the details

http://investor.sirius.com/sec.cfm?D...panyCIK=908937

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Originally Posted by winagain35

I'm a Denver guy too... Maybe we should organize a Colorado Siriusbuzz meet up! Spirits are up this morning boys... Haven't felt this optimistic about SIRI in a very, very long time.

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yea, came right from zappolo's mouth. I wanted to snicker, but was still a little leary if the NYP article was fact. Looks like it is so things are looking up. I'm in Westminster.

Another thought. The last number of short positions I saw was around 270 million. They would be crazy not to cover when it is announced that Sirius will not have to declare chapter 11. That should make for a nice short squeeze.

there are 270M shares shorted as of jan 31 which represents one of the highest total since the merger deal was signed. if a deal is confirmed, there will be a huge short squeez on tuesday. we may see one of the highest spikes in the history of the company. of course if BK filed we will see the price at .03 or so. this is a win/loose situation. there is no middle ground here. in any event, the news coverage on a confirmed deal or no deal will be all over the media. i would not be surprised to see Mel on Crammer if the deal is confirmed and of course Cramer will be announcing his "back up the truck" statement. Cramer has said nothing on siri since he tanked the stock on that infamous friday. no matter what u feel about Cramer, he was correct. we all could have bailed out on post market from 1.95 to 1.5 or so and bot back last week.

That is very true...but remember Mel bought 2 millions shares at $1.37 after that so we were lead to believe maybe something was gonna happen and Cramer was wrong...which now we know Cramer was right.....

What I cant figure out even when it was at 40 cents my friend told me to sell it all now and buy it back at a nickel... I thought it was too much of a risk and it would never get to a nickel but it did....

So you never really know when your there...and it always easier to say what we should of done after the fact!

Anyway good Luck to all and may 2009 be the start of a good year for Sirius and its investors....:cool:

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Originally Posted by Sworntwofun

That is very true...but remember Mel bought 2 millions shares at $1.37 after that so we were lead to believe maybe something was gonna happen and Cramer was wrong...which now we know Cramer was right.....

What I cant figure out even when it was at 40 cents my friend told me to sell it all now and buy it back at a nickel... I thought it was too much of a risk and it would never get to a nickel but it did....

So you never really know when your there...and it always easier to say what we should of done after the fact!

Anyway good Luck to all and may 2009 be the start of a good year for Sirius and its investors....:cool:

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Cheers! Have a glass of my Maker's......2 or three ice cubes? :)

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Originally Posted by FUNFUN99

i would not be surprised to see Mel on Crammer if the deal is confirmed and of course Cramer will be announcing his "back up the truck" statement. Cramer has said nothing on siri since he tanked the stock on that infamous friday.

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I'm pretty sure that there are rules about the minimum market cap and share price of stocks he mentions on the show. I have never heard Cramer mention a stock priced under a dollar on his show. He mentions these rules in one of his books....

Now that I have put posts all over the board......goodnight! :)