Originally Posted by
JohnnyIrishXM
Relmor i know you know this but it is for othersw here.
Here is the game being played if you don't know:Most companies have 60-80% institutional owners of their stock(mutual funds hedge funds etc)if it is a viable company,which SXM now is.
So as of 3-31-09 the percentage dropped from 55% to 39% right now as we currently have info on that.Now since then the Big money has been slowly buying back in smartly as when the new MaFFais report on Q ended 6-30-09 comes out in late july or early august will probably show..MHO
With 3.9 billion shares outstanding now that means that bigs had roughly 1.6 bil shares and little investors or Retail investors just like us had 2.3 billion shares..That is way too many small owners for this stock to go up appreciably in the short term,so the MM's are shaking loose as many shares as they can Smartly for their big clients to get in cheaply.
Just go to Satwaves.com and look at how some have core positions and swing positions and day or weekly or pop's and dip's traders ,now multiply that by 2.3 billion and that is the problem..they provide shares to the MM's to gather slowly,painstakingly slow,as us longs havwe to remain diligent and when the Inst. have their shares this stock will soar and Profitable Q's in a row by SXM will speed up the process...JMHO