The share volume traded today in Sirius was extremely low... you would have to go back to July 14h to find another date with so few shares traded. Fine, volume generally was low on all indices, but the relatively quiet stock charts for the NASDAQ and SIRI might suggest that traders have relented, and we can get back to some fundamentals. Might be a good sign for SIRI longs.
I noticed. I think a lot of that is related to waiting for the bailout resolution and not necessarily SIRI specific .. I wouldn't say the pain is over, but any sort of stabilization is a good sign. It'll be a very good thing for us if the bailout goes through.
very low volume traded today
I agree. When the rescue/bailout is completed, I believe Sirius
stock has a good chance of going up in value. More liquidity in the credit
market means Sirius is closer to debt resolution next year.
I am hopeful of that outcome.
Seems Paulson needed to rush the deal before anyone in Congress had time to think it thru. Representatives are getting so much pressure from home about bailing out billionaires, they are running scared. Especially Republicans trying to run away from Bush. Bailout is on hold right now. Obama and McCain have now further muddied the waters on the bailout.
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