I feel like I want to cry....We are starting to mesh and network and its a beautiful thing! It shows we can all get along and make money too!
Thank you! All of you....
SIRIUS XM SATELLITE RADIO FORUM
I feel like I want to cry....We are starting to mesh and network and its a beautiful thing! It shows we can all get along and make money too!
Thank you! All of you....
okay since people seem a little confused, correct me if im wrong but if u do not have a margin account then your broker cannot lend out your shares to be shorted, the second part was from a wu tang song. I prefer not to have my shares lent out to be shorted, probaly doesnt make a diff in the long run but what the hell, down with the shorters!
I think its enought for me to digest for one day...I am a self directed broker so Im still trying to figure it all out...I relize that its shorting is what been killing us at Sirius...so just wanted to try to understand how it happens...
I got to say it...SiriusOwner has shined tonight and I have a hole different prospective of him..now I wish he could see how Bill & tripp are also good guys and lets get busy....
what im saying is in order for your broker in my case thats td ameritrade, to lend out the shares you own to be shorted, you must have a margin account. If you do not have a margin account then the shares you own will not be lent out to be shorted. sworntwofun, shorting works like this, a broker takes shares that could belong to any1, and then lends them out to soem1 initiating a short position, that person then sales those shares and waits for the price to drop, when the price drops to where he is happy with he will then buy back the amount of shares he borrowd and sold from his broker so he can return them, he makes what ever the price diff was, for example:
broker lends me a 1000 shares of siri, that 1000 shares can belong to a client of the broker, once i get those shares i sell them at 22 cents a share for an amount of 220.
Then i sit back and wait for siri to fall in price, at 11 cents i buy the shares back for 110
and return the shares to the broker, so the diffrence is 110 which u get to keep. thats how shorting works, my point was if u have a non margin account your broker cant take your shares and lend them out to be shorted. If i had a margin account my broker could lend my 8500 shares to some1 to short siri, which wouldnt help siri imo thats why i prefer to not have my shares lent out.
p.s. you get what im saying now? lol
Last edited by trippingthespeculatingpos; 01-23-2009 at 08:07 PM.
Your question is real clear now .... it was actually real clear the first time that you asked it, lol.
Did you notice that my message isn't there anymore?
Last edited by billhart22; 01-23-2009 at 08:27 PM.
Trip - love the explainer...and for everyone else wondering about Trip's "speaking in code", the tagline on the above post is a sweet and apropos reference to a line from your friendly neighborhood Wu-Tang Clan.Originally Posted by trippingthespeculatingpos
Absoulty...I totally understand now and thats after 3 stiff Absoult Bloody marys....you explained it perfectly..Thanks...I basically closed all green today with exception to gtxo but being I was gonna buy it at .22 and bills heads up let me get it at .14...it closed @.13 so he still save me on that on and I considered my self way up on that..overall it was a good day...Now I wished a got some ABK when it was a buck..It closed at 1.10 and even lvlt was up...I really like what we got going on here! Its all good...If it wasnt for Sirius I wouldnt have a clue about stocks.. but I watch it all and live it everyday Pre Market, market and AH since before the merger... so I think I getting a feel for this...I hit bac on the money sold it and bought it back already...Citi I misses the first run but picked it up on the second round... There is only 2 things that stops me...Fear and common sense... But its been a real pleasure hooking up with you and bill and the other guys too! Its pretty cool getting involved with different people from all walks of like with a common purpose turning a nickel into a quarter...
Last edited by Sworntwofun; 01-23-2009 at 08:37 PM.
Today looked good for me too - you wouldn't have expected it with all the strange gyrations lately and mixed bag of news. NASDAQ kept a lot of people smiling (at least a little). scooped up IAB yesterday since everyone still seemed to be betting on nationalization, that worked out well.we'll see if it keeps up. but enough about that - long Sirius - godspeed.
haha i love that wu tang pic
Siriusowner - - - - one word --- EXCELLENT.!! I too have been trying to wrap my brain around how this worked. The way you took the time to describe "price manipulation" and how the actual transaction takes place cleared up a bunch of confusion on my side!
Appreciate!!!
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