It has to be a pressure play by Mel..
http://uk.reuters.com/article/govern...30812920090210
FACTBOX-Biggest changes in Nasdaq short interest
Tue Feb 10, 2009 9:16pm GMT
NEW YORK, Feb 10 (Reuters) - Short interest on the Nasdaq rose 1.1 percent
in late January, the exchange said on Tuesday, suggesting an increase in
bearish sentiment in the stock market. For story please see [ID:nWNA6186].
Below are the five Nasdaq stocks that experienced the largest increases and
decreases in their short positions from mid-January to late January, according
to information released by the exchange.
The five companies with the largest overall short positions are also
listed.
The latest date is as of Jan 30, while the previous period's data is as of
Jan 15.
COMPANY JAN 30 JAN 15 NET CHANGE PCT CHANGE
-----------------------------------------------------------------------------
FIVE BIGGEST INCREASES:
Sirius XM Radio (SIRI.O) 271,931,355 219,626,558 52,304,797 23.8
Geron Corp (GERN.O) 15,691,935 8,543,297 7,148,638 83.7
Bed Bath & Beyond (BBBY.O) 29,388,487 23,472,514 5,915,973 25.2
Flextronics (FLEX.O) 24,123,279 18,333,022 5,790,257 31.6
JDS Uniphase (JDSU.O) 12,907,667 7,782,856 5,124,811 65.9
FIVE BIGGEST DECREASES:
Intel Corp (INTC.O) 94,599,665 109,807,015 -15,207,350 -13.9
Microsoft Corp (MSFT.O) 80,372,599 92,445,347 -12,072,748 -13.1
Comcast Corp (CMCSA.O) 51,439,903 60,429,706 -8,989,803 -14.9
Level 3 Comm (LVLT.O) 151,093,640 159,950,081 -8,856,441 -5.5
*Smurfit-Stone 3,380,960 10,897,724 -7,516,764 -69.0
FIVE BIGGEST POSITIONS:
Sirius XM Radio (SIRI.O) 271,931,355 219,626,558 52,304,797 23.8
Level 3 Comm (LVLT.O) 151,093,640 159,950,081 -8,856,441 -5.5
Intel Corp (INTC.O) 94,599,665 109,807,015 -15,207,350 -13.9
Microsoft Corp (MSFT.O) 80,372,599 92,445,347 -12,072,748 -13.1
E*TRADE Financial (ETFC.O) 75,776,287 77,665,801 -1,889,514 -2.4
Source: Nasdaq data as of Jan 30, Reuters Estimates
(Compiled by Emily Chasan; Editing by Andre Grenon)
well you guys can do what u want i wouldnt blame you for selling, but im holding ^_^
http://www.reuters.com/article/compa...?symbol=SIRI.O
UPDATE 1-Sirius preparing possible bankrupty filing-NY Times
Tue Feb 10, 2009 5:46pm EST
NEW YORK, Feb 10 (Reuters) - Sirius XM Radio Inc (SIRI.O) has been working with its advisers to prepare for a possible bankruptcy filing, the New York Times reported on its website on Tuesday, citing people close to the company.
The move could put pressure on satellite television company EchoStar Corp (SATS.O), which reportedly holds a substantial amount of Sirius XM debt. The Wall Street Journal reported Monday that EchoStar chief Charles Ergen made an offer to take control of the satellite radio company late last year, but he was rebuffed.
Sirius officials did not respond to several telephone and email messages, and EchoStar declined comment.
Sirius has been working with restructuring expert Joseph A. Bondi of Alvarez & Marsal and bankruptcy lawyer Mark Thompson of Simpson, Thacher & Bartlett to help prepare a Chapter 11 filing, the New York Times reported, adding that a filing could come within days.
A Simpson, Thacher spokeswoman declined comment, and Bondi was not immediately available for comment.
Sirius has also been working with investment bank Evercore Partners, the newspaper said. Evercore could to be reached immediately. (Reporting by Anupreeta Das and Yinka Adegoke; editing by Jeffrey Benkoe)
Sorry but Mel & Co. haven't been known for announcing much of anything is the past couple of years.
http://www.thestreet.com/_yahoo/stor...FREE&cm_ite=NA
Sirius XM Prepping for Bankruptcy: Report
02/10/09 - 05:18 PM EST
Robert Holmes
Sirius XM (SIRI Quote - Cramer on SIRI - Stock Picks) may file for Chapter 11 bankruptcy protection "within days," according to a published report late Tuesday, as the satellite radio company continues to grapple with outstanding debt.
According to a report in The New York Times, Sirius XM has been working with the restructuring expert Joseph Bondi of Alvarez & Marsal and the bankruptcy lawyer Mark Thompson of Simpson Thatcher & Bartlett to help prepare a Chapter 11 filing. The report cited people close to the company, who said documents and analysis are close to being completed and a filing could come within days.
After gaining 3.6% during Tuesday's down session, shares of Sirius XM were lower by 2% after hours to 11 cents a share.
The Times report comes one week before a chunk of Sirius XM's maturing debt will come due. Sirius XM reduced its total debt due on Feb. 17 to about $175 million, but the future is a bit unclear. The company still has approximately $3.4 billion in debt, with just under $1 billion due before the end of the year, and its stock has fallen sharply since the July merger between Sirius Satellite Radio and XM Satellite Radio.
Additionally, reports surfaced last Thursday that EchoStar (SATS Quote - Cramer on SATS - Stock Picks) has acquired a significant portion of Sirius XM's debt and could seize control of the company's attractive assets.
EchoStar, which sells set-top boxes and was the former parent of Dish Network (DISH Quote - Cramer on DISH - Stock Picks), has acquired part of a $300 million tranche of Sirius XM debt set to mature next week, according to The Wall Street Journal, which cited "people familiar with the matter."
The Journal went on to say that Charles Ergen's EchoStar could also be buying Sirius XM's senior bank debt, which comes due in May.
I am with you tripping..... holding firm, want to let the waters settle and see if it is BS..... tomorrow should be interesting?
Must have balls........
man how long can mel wait he's going have us all in full blown panic attack's before he say's anything.