SIRI Intraday Thread: Tuesday March 31st

Quote:

---

Originally Posted by lloyd Handwerker

Headline on NYtimes. "GM bankruptcy is now probable". That is a quote from the new chief of GM. That is what must be driving stock down.

---

Didnt get that quote fully correct. It should read."Bankruptcy is now MORE
probable". Sorry about that.

I'm such a hypocrite. A few months ago I was screaming for Sirius to do whatever it could to avoid bk. Today I'm wishing GM would do it quickly and get it over with. Then God planted the thought in my head ...what about the gm shareholders..now I feel bad.

Interesting...got about 250k more shares to clear out at .33. Anyone think they'll take it up after that?

IRS just announces that sales taxes for new cars will be deductable on income tax even if you don't itemize.

Quote:

---

Originally Posted by Brandon Matthews

I'm such a hypocrite. A few months ago I was screaming for Sirius to do whatever it could to avoid bk. Today I'm wishing GM would do it quickly and get it over with. Then God planted the thought in my head ...what about the gm shareholders..now I feel bad.

---

I am ashamed to be on the same planet with you, you heartless person you!
Hey I have to check my thoughts daily too for the same reasons. ; We are human

JP Morgan: Odds of GM, Chrysler bankruptcy have diminished 03/30 06:36 AM



JP Morgan believes odds of a General Motors (GM:$2.39,00$-0.31,00-11.48%) or Chrysler bankruptcy have been diminished following recent commentary from Washington and they think investors can now "increase their risk appetite" in the sector.

Brandon, I always feel bad for the shareholders because I seem to always be one of them! :o

Quote:

---

Originally Posted by Brandon Matthews

Interesting...got about 250k more shares to clear out at .33. Anyone think they'll take it up after that?

---

I want to thank the sellers for these bargain-priced shares :)

Sheree, and in a long and boring press-conference he said it is a possibility but not very likely because they making progress on every front.
It will take these 60 days, maybe less , to get this behind us.

Quote:

---

Originally Posted by Sheree

lloyd, it actually said "Bankruptcy Is Now ‘More Probable,’ New G.M. Chief Says"

One word changes the sentence. Yesterday JPM issued a statement saying they thought odds were higher with the new 60 day deadline, of GM being able to avoid bankruptcy.

---

how much time do you think i have before the GM stock drops below $2, maybe by tomorrow? or do you think it will hold out a bit until it gets closer to the 60 day deadline

Thanks Choirgirl. I've been watching the news conferences and thought the ones yesterday sounded more positive then those today. I guess only time will tell.

exilejeff, I think you will just have to decide if you personally believe GM is going bankrupt to know if you should sell the shares you own at this price.

Quote:

---

Originally Posted by Sheree

Thanks Choirgirl. I've been watching the news conferences and thought the ones yesterday sounded more positive then those today. I guess only time will tell.

exilejeff, I think you will just have to decide if you personally believe GM is going bankrupt to know if you should sell the shares you own at this price.

---

no matter what you decide, you should get those certs into an account. If they burn or get destroyed they are gone.

i know that is what i was telling him, he has only given me some of the certs and i have been trying to decide if i should just sign them over and mail it to the zecco acct i have.....

he still has thousands of shares all rolled up like partchment paper with rubber bands around them lol

WOOHOOO - TDA is giving me 505 free trades for waiting for my transfer..... that's what I'm talking about.....

Time to play with some of the stocks killer/cos/choir pointed me to.... and shore up my holding on SIRI -

Maybe this little low point isn't so bad after all.......

Anyone think we have a chance for significant movement by friday? up/down? I notice the MM's are still at it - right now I'm attributing it to lost momentum following the correction from the BK lows....



:)

exilejeff, I wouldn't sell at this price, but this is just my opinion. What you could do, is sell Jan 2011 2.50 Call for .80. This way you get 2800 $ and still hold the shares and you can use that money to buy Sirius shares.

......i have no idea what you just said but having an additional $2800 and the shares sounds kinda nice.....can you explain it as if i had never traded options before? :P

Quote:

---

Originally Posted by Paratrooper_Rick

WOOHOOO - TDA is giving me 505 free trades for waiting for my transfer.....

---

gratz!
but they aren't like the "100 free trades" at e-trade where they have to be used in 30 days right?

Quote:

---

Originally Posted by lloyd Handwerker

It seems logical to me that people (including institutions) would be very wary of Sirius while GM and Chrysler are fighting bankruptcy. Any disruption of the
purchase of cars I would think would be seen as impacting Sirius/Xm.
It may not be at all fair but it still seems logical.

---

Your not listening. GM Goes bk tomorrow, people will buy another brand(good for Sirius). GM goes BK might be bad for America(beginning to doubt this however), and great for SiriusXM. Media, and MM's know your the typical thinking man, and take advantage of weak hands off the wrong angle on the news, or simply no news at all(as is this case, 60 days from now GM will get their money).
So in summary, your 100 percent wrong. Nor are you logical. Chrysler isnt going anywhere either.
Want to trade today on real news? Obamas car stimulus plan would be a good one, or revised car sale numbers for 09 would be good news to trade on. Or the MLB money out of escrow(real news to trade on), or Iphone app(real news to trade on). MM's right now are taking advantage of ignorant traders nothing more.

Quote:

---

Originally Posted by relmor2003

Your not listening. GM Goes bk tomorrow, people will buy another brand(good for Sirius). GM goes BK might be bad for America(beginning to doubt this however), and great for SiriusXM. Media, and MM's know your the typical thinking man, and take advantage of weak hands off the wrong angle on the news, or simply no news at all(as is this case, 60 days from now GM will get their money).
So in summary, your 100 percent wrong. Nor are you logical. Chrysler isnt going anywhere either.

---

Here's a better reason she's down. March Auto Sales Data will prove 1st quarter disaster.

Quote:

---

Originally Posted by relmor2003

Your not listening. GM Goes bk tomorrow, people will buy another brand(good for Sirius). GM goes BK might be bad for America(beginning to doubt this however), and great for SiriusXM. Media, and MM's know your the typical thinking man, and take advantage of weak hands off the wrong angle on the news, or simply no news at all(as is this case, 60 days from now GM will get their money).
So in summary, your 100 percent wrong. Nor are you logical. Chrysler isnt going anywhere either.

---

I don't think he is wrong. This is about market perception which drives buy/sell decisions all the time. Potential BK of GM and Chrysler are causing uncertainty which the markets hate and react, many times in what would appear to be irrational ways (betting against SIRI would be an example of the irrationality). However, it is what it is. If you are long on SIRI, then no matter. This uncertainty will clear up. Other, unrelated favorable SIRI news could counter the uncertainty as well. But, those trading on this stock short term, are definitely getting screwed now by this BK situation.

Quote:

---

Originally Posted by relmor2003

Your not listening. GM Goes bk tomorrow, people will buy another brand(good for Sirius). GM goes BK might be bad for America(beginning to doubt this however), and great for SiriusXM. Media, and MM's know your the typical thinking man, and take advantage of weak hands off the wrong angle on the news, or simply no news at all(as is this case, 60 days from now GM will get their money).
So in summary, your 100 percent wrong. Nor are you logical. Chrysler isnt going anywhere either.

---

Well 1st quarters auto sales are released tomorrow. If they are lower than expected we shall see if the stock goes down. That would be my logical quess.
We are arguing about semantics. I am not saying that is "CORRECT" that people react that way just that its logical to expect it. By the way I own 80,000 shares for the long term.