Siriously sirious Sirius posts only! 10/7/09

[RunCatalina]

Appreciate everyone's optimism. . .but SIRI appears to be in free fall.

[candleman]

Appreciate everyone's optimism. . .but SIRI appears to be in free fall.

I was able to pick up another 10K shares at .517 this morning. I may turn it quickly if it doesn't find a bottom in the next hour or so.

[siriusrain]

Dear SIRI,

Seriously???????

[underway]

Jeez! Sirius is taking a huge hit in pre market. Curious to see how much the sp will dip before it is realized that The exec. Share sell off report is once again designed to lower the Sp.

'The last time an insider at the company made a purchase larger than a few hundred dollars was in August 2008, when Sirius XM Chief Executive Mel Karmazin bought two million shares shortly after the merger of Sirius Satellite Radio Inc. and XM Satellite Radio Holdings Inc. ...'

Isn't it illegal to trade based on insider information? What this article implys is that these Sirius insiders are unloading shares due to some insider known fact. In reality, they are probably just wanting to reap the benefits of the sp increase of the past several months. I didn't see it reported anywhere that Sirius executive were unloading all their shares. You can ne sure there are far more shares being retained than sold. Anything other than this is blatantly illegal and would be latched onto by the SEC in less than a heartbeat. It does not take much more than an idiot to see right through the WSJ's, yet again, manipulitave reporting.

While disappointing that senior execs are selling shares immediately upon vesting, it's not illegal. They have windows when they can sell the stock, and I'm sure are in compliance with the law. But, it does send a neg signal, and the SP drop today is due to that. However, the WSJ did say these same execs still hold a ton of shares. Another WSJ article just hit the wire which is a very fair assessment of the stock. I posted it on the other thread.
This drop is temporary, and a buying opp for some. It will bounce back later today, and will run up prior to Q3 CC. Sucks to watch it fall like this, but it will be back!

[Jason_Lucas_ADP]

I'm gonna buy between .40 - .45. It could be retracing to a 50% level from the YTD hi/low.

[bdp]

Try to refrain from panic. WSJ article is purely deceitful. I am buying more at these low prices. Bought 20k more @ .52. Betting tomorrow will begin slow trend upward to 3q earnings.

[Jason_Lucas_ADP]

btw, good catch Candleman. you can probably turn a quick profit on that swing. Looks like you caught it near the low of the day. Knock on wood

[candleman]

I know I'm overly positive in some folks minds about Sirius, but here I go again.

I had been buying options on SIRI for quite some time. I was betting that by March this stock would be over a dollar.

The option QXOCA has been holding it's price of 15 cents pretty well even during this downtrend. Yes, it's been bouncing off of 10 cents, but it gets back up to 15 quite often.

To me, that says that I'm not alone in thinking we have a bright future by the end of winter.

[bdp]

...and like a Phoenix, the sp rises again. Never fails. I have bought over 300,000 shares during these dips over the past several months and will continue to buy more with confidence the next time it happens. This is what Sirius has been set up to do and every investor that toys with this stock knows it. For some reason, there is still an abundance of freaked out chumps that continue to buy into the media pumped fear every time, creating these great buying opportunities for others.

[bdp]

Hold onto your wallets gents. CIT group is about to be swollowed into a black hole.