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.