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Good Morning All :sunny:
I see things got a little untidy over here. Two weeks gone by
without a new thread.
I guess it will take a woman to jump in and straighten
things out. :p
Happy to do my part. :)
Let's talk about Sirius, Baby ;)
Enjoy your week.
Julie
check this out....another moron weighs in:
http://247wallst.com/2009/09/19/siri...-certain-siri/
Thanks Underway.Quote:
Originally Posted by underway
I still don't see this as a problem. Right now, I own around 200,000 shares. It it splits, I'll own 20,000 shares. I might be missing something. But, to me it should make no difference.
And with that being said, I still think we are on track to top out over a buck before year end anyway.
Where do these morans crawl out from?Quote:
Originally Posted by underway
Well, I guess it's true about everybody has a opinion,
and what they're worth. :rolleyes:
All except for mine and you guys, of course. :cool:
Julie
The article itself isn't a problem really, just annoying. But, even though RS is just a math conversion, with total shareholder value remaining the same at the time of the split, RS has a very negative connotation and MOST companies that do an RS, lose significant market cap as a result. There are a few success stories (priceline.com is one), but most are a disaster because it is seen as a sign of weakness and investors sell off shares. An earlier post here which was explaining the basics of splits, seemed to indicate that splits don't have impact. NOT TRUE. The 'good' split, 1 share becomes more shares, is very positive, because it typically drops a very high SP to permit more buying by a wider group of investors. The RS is always viewed by investors as negative, a hail mary pass to prevent delisting. Of course, not all RS's are equal, and SIRI market cap is significant, which is one powerful argument for NASDAQ to change the stupid rule of $1 minimum. I believe SIRI will break a buck on its own, and the RS won't happen. Just sayin'.Quote:
Originally Posted by candleman
Anyone owned a stock that has performed a reverse split before? I have and let me tell you it is the death nail. I wrote a nice few paragraphs last night explaining this only to lose them in the process of downloading spell checker on my laptop. Quite peeved as it was radio gold, taking shots at everyone, even the great Relmor/O-b-one. Candleman, the reverse split of 10-1 would be met with heavy shorting! For example, you and some other folks on here have 400,000 shares worth .90c per (I use .9 just to illustrate we almost got there). Value 360k. Your share count will be reduced to 40k and the stock price will be "propped" up to 9$per. In all this your value has changed none. 360k before and after. Its simple right...if you have a pencil and break it in half you still have the same amount of pencil. In comes 124m shorts also adjusted for the split and the bear party begins! Shorts whack 20% or more out within hours of the open and you will see them lining up in premarket. Everyone will be running for the exit at the same time and we all know what happens then....bad things man. So by 11am you have to ask yourself what do I do now? My 360$ is reduced to 288$ and its sliding out the door rapidly...do I trust in Mel and wait another 8 years to recover or do I protect my fleeting cash? Stock price would be around 7$ This is a very possible scenario and when I used to buy stocks on the OTC(very risky junk) it happened all the time. Its a way for the company to take your cash and buy sometime to feed you more bullshit only to take more of your cash on the way out. The stock could slide all the way back to 1$ and then someone with half a brain will buy up the shares and steal the company from you! At this point you are excited to sell your shares to Liberty or Apple or anyone because the premium they offer you is 2$/share....your pumped because at least you get 80k$ out. For the record, Relmor, I voted no on the reverse split...how could I have done that if I never owned the stock. By the way O-b-one, how is the stock manipulation case going?....that sounds like a winnable fight.
I will say it one final time and won't say it again, protect your gains Mr. I am up 650% on my .09 lot. Should have trimmed at .77 like me and the rest went out the door at.7...haven't owned any for weeks. Think people if it was so easy to get to a dollar don't you think Mel would have us there? If we get to .9c I would be amazed and excited for all the longs on here. I am not a hater like some, I am a realist and I see bad things in the pipeline not only for SIRI but all markets.
In Myrtle Beach housing is dead, hell the Grand Strand is dead. You can buy blocks from the beach for fractions of what it used to cost.
Plumber update...my buddy is one 3 employees left from 14 at Hepler and he ran into an owner of a construction company last week on the job site. He asked what he was doing on the job site? His comes back laughingly with, " Last year I had 80 employees this year I barely have 80 dollars! So when I say it is bad it is real bad. GLA, DYODD
Big Ben
Short China, banks, and Reed...two field goals? Come on buddy.
Fully agree. A R/S split after SIRI's decline would most likely be seen as a sign of weakness. It would more than likely signal another round of shorting and bring the price back down to levels seen prior to the split. If SIRI did a 10:1 R/S, SIRI's stock price would be about $6.60. I could easily see shorting bringing the price down quite a bit. Result is a decrease of market cap.Quote:
Originally Posted by underway
Couple things....insider selling is 30-1 right now..not good..people on the inside know things you don't. Bernake is going to lie to us when he speaks...he has too. The Fed knows how shaky the ground is, they are probably going to paint a rosy picture for us but I hope they give it to us straight, thats what we need.
FXP is up 4% today, it is a screaming buy at 9/share.
Big Ben
Ben, I'm liking FXP. I got in last Thursday and Friday. It's nice to have, in order to help balance the rest of the portfolio.Quote:
Originally Posted by Big Ben
Reverse splits don't always go this way... Check out AIG.Quote:
Originally Posted by Big Ben
For what it's worth...
2 weeks ago I had placed an order for 100 options contracts on a $1.00 March call at a price of 15 cents.
I'm confident that this is a really good investment. But, the point is that it took a long time to get the right price of 15 cents. 20 cents seemed to have been the going price until today. Sometimes it pays to be patient.:cool:
Correct, but I'll bet 9 out of 10 do. And, AIG is not a good example, since the gov't is bailing them out. Propped up companies are probably a good stock play as a result. Investors aren't heading for the hills on stocks where the gov't is pouring in $ to keep them afloat. No one will bail out SIRI, and the typical RS precedes chapter 11 bankruptcy or worse. Odds are not good for SP following RS. We should all hope next two quarters are very good, and stock breaks a dollar all on its own. Once that happens, it's on its way to $3 or higher. If the next two quarters suck, RS happens, and the stock is history. I don't think that will happen, as all indicators are good. IMHO.Quote:
Originally Posted by winagain35
Quote:
Originally Posted by candleman
I would be patient too if I were lying on a beach. :p
Julie
It does help Julie. The mind is clear. The darn sun seems a little too bright though.::p And then those darn dolphin jumping in the waves. It's really hard to concentrate!!!!!Quote:
Originally Posted by julietoo
Quote:
Originally Posted by candleman
Poor baby!! :( Maybe try turning over in your chaise, face down on the cushions might help. Make sure you put sunscreen on your back, we wouldn't want you to get sunburned. It would be really hard to
concentrate then. As for those darn noisy dolphins, put your fingers
in your ears. The middle ones preferably. :p
Julie
I'll work on that!:sunny: :sleeping: But, I promise, I won't work too hard!Quote:
Originally Posted by julietoo
Quote:
Originally Posted by candleman
You need to toughen up, Chuck. Too much leisure time
makes for a slug. :rolleyes: Come to Michigan, oh lets say in January
or Feburary. That will get you out of your lazy attitude real
quick. Fighting the elements, the ice, wind, and snow will give you that sense of accomplishment you so desperately need. :p
Julie
Open question:
Where does the lower support seem to be? .65, .60, ???
Is there any new support forming?
It looks to be a tough week for the market to remain bullish.
It is all so nerve racking.:googley:
It is extremely rare that a RS ends up good for investors, it gives shorts much more room to play with as well.
I went through it once and the company went bankrupt, will never do it again.
Hey Tunes, .65 seems to be holding pretty well over the last month. With all the bad press and Reverse Split talk going on, it seems like we're not diving. I think we'll be swinging in the .63 to .70 area for another month or so, and then we should start climbing as we get closer to the next quarterly report. That being said, there is a lot of profit to be made playing the swings for now.Quote:
Originally Posted by Siriustunes