12:30 eastern time Denco1 for LMCA call.
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12:30 eastern time Denco1 for LMCA call.
Thanks Bones...hope to hear a bit more from Meyer and Maffei.
I think Meyer killed it. His vision for SXM in the connected car and its global reach is inspiring as a long. As in the Faber interview he defined "streaming" as a technology, which isn't "competition" per se, and refocused the discussion on SXM's bundled content which is unsurpassed by any of these streaming jukeboxes. All the financial, auto penetration and subscriber growth numbers point to a bright future for long-term SIRI investors.
Also, the Live Nation CEO opened his presentation by saying that with all of SXM's increased FCF there is no excuse for Scott Greenstein to claim that the Live Nation content is too expensive for SXM anymore; for a few million dollars a year he said Live Nation can "hook you (SXM) up!" Isn't LN still in the LMCA/K portfolio? You'd think there would be more synergy that M&M can broker...
I have a 60-day GTC order in at $3.40 looking for the $3.39/.40 gap to fill. Anyone think we'll get there?
There's a replay of the LMC investor meeting happening now. Meyer just started...
Here's a link that should get you there: http://www.media-server.com/m/p/cjnxzw9g
Again SIRI, 3.58 to 3.51 on a day they open their mouth. For no reason at all ???????????
Maffie talking about siri plans
http://finance.yahoo.com/video/liber...202900497.html
MLSsiri... I thought Meyer did a great job speaking too. He sounded confident and very upbeat about the future of siri. One thing he emphasized a few times was that everyone focuses on new car sales which of course is important with SAAR nearing 16.5 mill but he also said don't forget to add the used cars which i think he said nears 40 million annually which brings the total number to 56 million vehicles (granted the conversion is different for used). No wonder why they are excited about the used car market. Good info.Quote:
Originally Posted by MLSiri
As far as Siri filling the gap....yeah i think its def possible and if it does i would think siri would be buying at those prices. I guess i just kinda expect a .20 to .30 drop these days after a run up seeing how its done that two times since last march. Although SF thinks its gonna hang in this area then maybe move higher. I hope he is right and i am wrong!
Funny how current trend should mark 3.65 as resistance Dec. 1st.
Trend is an 8 cent range today was 3.59 / 3.51. Yesterday was 3.50 / 3.58. Day before $3.57 / 3.49 etc.
Break 3.65 dec 1st next resistance is previous support line which will be 46 cents above at $4.11 slope of 1 cent a day up. If it's rejected support $3.57 then maybe $3.50 from a horizontal standpoint and all the moving averages just below that.
There's no volume here at all. Can only beat the damn rug so long in the same area until no more dirt falls out. Beat somewhere else, and without a hedge to short it down in the converts I think the most logical place is the $3.65 to $4+ range. Plus I figure LMCA may wanna sell a bit more back on the high basis before the end of next year.
It's funny... (or not funny). Last year they didn't use ASRs and gobbled open market and brought the price up, sold some, then used a third party to lock the price low after it got knocked down on the Q3 call with the early impact of the GM shift.
Goes down the manipulation path but... considering how close LMCA and UBS are, LMCA has had relative price control since before they even moved to make their offer for the 40%.... those converts were entered into in 2008, no? I figure it all was planned long before the depths of 2009. They knew after those converts the company would be in borderline financial trouble. I'd call Mel an idiot but he made bank here with his little golden parachute :) And I can't complain since I'm mostly a "since 2009" investor.
Well the gap is at the 200 day ($3.39 ) which just turned up (for a few days at least) so it's a logical area to test.
Then again, you're looking at the gap. Traders may as well. Thus if one expects a 20 cent drop from 3.59 they may short or sell long positions.
Bundle of shit above it though. 20, 50, 100 day all in a little ball there around $3.45. There are other stocks with better charts to trade, for sure... probably half the reason volume is so shitty here. Why would a trader bother... Move it above $3.65 though and you'll get interest, volume...
dm_4 - Thanks for the info! The used car market is the sweet spot for sure. Sounds like they have some good ideas and strategy for the tethered and embedded technology that is coming down the pike, too.Quote:
Originally Posted by dm_4
As far as an entry point, $3.40 is just a couple cents below the 32% fib retracement based on the $3.14 low on 10/13, but above the gap... might have to raise my bid a little based on what SF's saying about the SMAs, but we'll see. If it gets there it might just be for a quick round trip to snag some newly-placed stops. It seems all the daily technicals are all close to "overbought" (RSI, Slo Sto, Accum/Dist, etc.) while the P&F is nearing a double top breakout above $3.62/3 (resistance point). The weekly chart seems to have a little more upside (Slo Sto rising but flattening), but a couple of indicators like RSI and Acc/Dist are turning down slightly. This week's candlestick looks like an inverted cross - whatever that means - but there's still time for more shenanigans before options expire on Friday.
It has been a good run, and as SF says the volume is really drying up/exhausting. So, it's anything can happen with SIRI time again, especially with Flow/UBBS axing the line of scrimmage. We'll find out soon enough when the converts come home to roost. Good luck to all!