i hope i'm right in saying this, in that the only favor
the wsj did for us with that article is to create a buying
opportunity at .112 so that anyone who missed the roll up
last week to 18, has another chance to get in again at
a decent price
lot of .12 cent buys going in way above ask.
It is amazing (but not surprising) that various publications are getting on the bandwagon of bashing Sirius XM based on "sources" quoted in the Wall Street Journal. It's almost as if they are "reporting" just so to show their readers they are doing something.
There are "quotes" flying around that are not necessarily things that any person really said. For example, there is a "quote" of what Mel Karmazin supposedly "told investors last week" which is contained in the following paragraph:
With just a week or so left until its first round of debt obligations come due, Sirius is in a tight spot. As Karmazin told investors last week, the company needs to raise $175 million, and quickly. If it can’t it will end up either filing for bankruptcy or cutting a deal with Ergen.
Someone tell me, in the paragraph above, what Mel actually said. After all, there are no quotation marks anywhere. It does not say "Karmazin told investors last week." It says "as Karmazin told investors" So what (if anything) exactly did Mel say to investors (and who are these "investors" anyway?). Also, did Mel say "and quickly"? or is that an editorial comment on the part of the writer. Did Mel really say "If it can't it will end up either filing for bankrupty or cutting a deal with Ergen" or is that just another editorial comment on the part of the writer of the article. Even if one stretches one's sense of belief, if Mel said anything like what is quoted, Mel would not have called Sirius XM "it"; he would have said something like "Sirius XM" or "we."
So, with all this "news" floating around, perhaps Mel just said something to the effect of "We need to pay about $175 million in the next week or so." Gee, folks, we all knew that!!!!!
siri is doing its usual late day climb.
Prediction.......
SIRI closes flat to green today.......
Boy was I wrong...........OUCH! This stock has been so ****ing painful......
SIRI closed @ .11 ****ing cents..................101.5 M in volume.
its not easy to be in this stock right now :/
I would not buy.... Wait, hold or whatever but don't even think about buying this week. This damn stock is too hot for amateurs... I'd buy the bonds but only at a discount.Originally Posted by nisvan
Start buying the stock after 2/17... just make sure the company is not in BK. Stop accumulating after 2/23. THAT my friends, is the window of opportiunity.
Last edited by Siriusowner; 02-09-2009 at 06:09 PM.
Agree 100% ........ going after the cheap is not always good. Sometimes it is just damn foolish.
Exactly. The plan should be, "if you are in, stay in... if you are not, do not get in...". If you have a rash and want to spend that money buying stocks, here's agood one: CHK.... Or you can send it to me, lol.
I am out of SIRI positions...finally...and do not intend to get back in until after 2/17 and I have 13K burning a hole in my account but... better be sorry than dead. In the mean time I'll watch how CHK makes me money, I got in with a 1000 shares at $14.25. (Thanks for the web site Tripping... www.americanbulls.com).
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