Your right to feel cautious, I mean look at the general markets. If I weren't focused on SXM, I can't say I'd be doing better in other companies right now.... It's been real bad everywhere.... this thing has got to pop our way sooner or later.... and I think the time is right... just need JPM to see it our way in the longer term......
Originally Posted by killerkaul
sl65
tanks 4 da compliment..i've replaced many a keyboard after reading your stuff many a day!
on a serious note... what platform/broker are you guys using that you can put in .1234 orders? scottrade only lets me do limit on penny stock, unless i'm missing something there.( which is possible look at my hair in my avatar)
koop
Last edited by Koop; 03-05-2009 at 10:44 PM.
Ok cos1000. Im just looking at the cause. True or false.
If you never write your thread, and bring up the topic, and start nitpicking the every word of the SEC filing in question, would Brandon have ever written his article? .13 should have held in after hours. In fact, it barely did. Thread that broke the camels back? Who knows, you could be responsible for that(due to your influence on Brandon.) He saw a "neat" story around your "due dilegence, and purely innocent work". Nothing is innocent. So if the stock ever goes over .20 cents again, even .14 cents again, you worked AGAINST THOSE efforts. If it goes BK, we can all praise how wonderful you are.
2. Can anyone for sure say what the effect of the article is to the sp? But more importantly to someones position(anyones position).
Albeit a little old lady, or a man trying to feed his family. Or a bagholder from premerger.
And please, answer honestly. What is your part in all this? If you feel nothing, than I would respecfully disagree with you. As your are cos1000, I have taken it easy on you the last couple days. I think everyone knows how I treat bashers(negative posts with no facts to support them).But I can only keep my mouth shut for so long. As you see, Brandon has gone off and been Brandon. Im more angry with him, but YOU SHOULD KNOW BETTER IS MY POINT. Your more innocent than I first made you out, for that I apologize. Lets throw your "trade out of it". As its the only conjecture of yours I was critcizing. And it was a bad trade, you could have sold .03 cents higher 10 minutes later. You claimed it was a good trade. I disagree. But thats neither here nor there.
Last edited by relmor2003; 03-05-2009 at 11:11 PM.
cos...
you state ..."this thing has got to pop our way sooner or later.... and I think the time is right..." i know how you feel, i feel the same way, unfortunately things don't have to pop and the "way we feel" is an emotional response.. One thing i have learned is to not love any stock and to have a stop loss on every trade and now i even learned to have a stop loss on my investment account. I left my previous broker because in the dot com meltdown I was calling for him to sell, lighten up in my positions and unfortunately i listened to him and lost BIG..what i learned was that they don't call em a broker for nothing cause that's what they do.. make you broker and broker... Who is gonna look after your dough better that you? I like what i have learned following you, relmore, sl65, tripple8"s and the rest of the merry band of altruistic sirius subscribers who know satrad is , no make that, should be the future way to communicate with the world at any given instant, from radio to tv to broadband wifi...
pardon the babble folks,
koop
long siri due to not sticking with my plan.
Last edited by Koop; 03-05-2009 at 11:11 PM.
I just can't let this go...
This is how disconnected Brandon's article is. He goes from this:
>>It is with great distress that I put pen to paper, or in this case fingers to keyboard. Sometimes people believe that SiriusBuzz is SiriusPump. Nothing could be further from the truth and the buzz right now, is chapter 11. In a filing with the SEC, Sirius XM states:
* In the event such uncertainties remain unresolved, management anticipates that KPMG LLP’s auditors’ report relative to the Company’s 2008 consolidated financial statements will contain an explanatory paragraph indicating substantial doubt about the Company’s ability to continue as a going concern.
* … the inclusion of such a paragraph by KPMG LLP would result in a default under certain indebtedness of the Company, XM Holdings and XM Satellite Radio Inc. (“XM Inc.”) which defaults, if not cured or waived prior to the expiration of the applicable grace period, would result in an event of default under other indebtedness of the Company, XM Holdings and XM Inc. Such events of default, if they occur, provide the lenders the right to demand all amounts due under the respective agreements immediately due and payable.
To this:
>>In a nutshell, unless Sirius XM retires its May debt prior to its 10K being released, its only choice is Chapter 11. A simple statement of potential default is reason to cause a default in this case.
A further problem develops as we learn that that company itself is examining whether it makes sense to continue operations under such economic circumstances.<<
What???????? Brandon, you are F'd up dude! No lie.
Then he goes to this:
>>Management has not yet completed its evaluation as to whether substantial doubt exists relative to the Company’s ability to continue as a going concern for a reasonable period of time. A significant element of that evaluation relates to uncertainties associated with funding of amounts stipulated in the aforementioned Investment Agreements. These uncertainties may not be resolved by the time the Company files its Form 10-K with the Securities and Exchange Commission.<<
And what's this?? Brandon the genius??? You will determine this for SIRI???
>>Unfortunately, auto sales data for the first two months of Q1 2009 shows that it is even more likely that the company will come to the conclusion that it cannot continue operations under its current debt and contractual obligations. A 9.1 million run rate and 1.7% churn rate equal a net loss of nearly 2 million subscribers in 2009 by my calculations, which have been heavily challenged in the SiriusBuzz forums.<<
Lastly final conjecture on which his unassuming readers should cogitate:
>>As for any talk of why Malone would have stepped in. The answer may be as simple as intending to keep the assets out of the hands of Charles Ergen, so that some form of Sirius might emerge after bankruptcy.
Position: Long SIRI<<
Ah yes Brandon. You are a real doofbag. Hey genius, I have a news flash for you. Mel could have already just filed....f'd all the bondholders, forced them into courtroom negotiations and SIRI would have emerged from BK without Ergen getting one iota of the company nor would they now owe John Malone $250M + $21M. You are a total arse, man!!!!
Come on sl62, are you going to really say cos1000 is "blameless" for this article? He knows how important his opinion is, and he should take that more seriously with peoples money. If he HONESTLY FELT SIRIUSXM IS GOING BK, why do you own a position? Why do you post here? Or if you dont really feel that, why did you feel the need to go over a stupid warning on a SEC filing we all had said was a bs warning in the first place. So if you really dont think its bs, then you shouldnt be in the stock. SELL NOW!! SELL. Dont even hold a 1/3 position. We talked for WEEKS ABOUT HOW BK WAS BS, and you get a hair up your butt one night, and decide to FINALLY TRUST MEL? I didnt read thea rticle when I first critiziced its origins, remember that sl62. I knew it would be garbabe, and I wanted to avoid this exact scenario. Do you see my point now? Do you see the damage this is doing to people who dont have a clue and are reading this? Now, Cos1000 couldnt have prediicted the future, but come on, in a way, we are on a site that is less than realistic at times in its reporting. How many times have we ripped siriusbuzz articles? 100? 1000? And you give ammo to the enemy on his doorstep(any negative news about my company is the enemy, if I dont believe it, or I feel it may affect my sp). Sorry.
Gina,
you are so right, there is nothing more to say.
CC for example was down to 8 cents and then back to 15 - 20 for some time before it spiked up to 49 cents and then finally crashed to one cent.
See Brandon, you write your sensationalist, fearmongering articles on all the wrong things that do nothing for shareholders. You and any other clown writer on this ordeal missed the boat bud. Why? Because you or anyone else didn't have the balls to report the real truth behind this SP's decline. Maybe if you did some deeper research like some of us shareholders do, you could have actually possibly helped someone. Too late now bud but here's what you shpuld have articled on many moons ago my friend. This is a rip from the 10/28 424. Something many of us at SA found out too late in the game:
>> The Effect of the Issuance and Sale of Shares of our Common Stock in connection with Stock Borrow Facilities Entered into at the Time of the Offering of the Notes, which Issuances were Made to Facilitate Transactions by which Investors in the Notes could Hedge their Investments, may be to Lower the Market Price of our Common Stock.
The underwriters for the offering of the shares borrowed pursuant to share lending agreements entered into at the time of the offering of the notes informed us that they, or their respective affiliates, intended to short sell the borrowed shares concurrently with the offering of the notes. The borrowed shares were borrowed by the share borrowers under the share lending agreements. All borrowed shares (or identical shares or, in certain circumstances, the cash value thereof) must be returned to us on or about the maturity date of the notes or earlier upon notice from us that the notes are no longer outstanding, or in certain other circumstances.
We were further advised by the underwriters that they, or their respective affiliates, intended to use the share loans and the short sales of the borrowed shares to facilitate transactions by which investors in the notes could hedge their investments through privately negotiated derivative transactions. The existence of the share lending agreements, the short sales of our common stock effected in connection with the sale of the notes, and the related derivative transactions, or any unwind of such derivative transactions, could cause the market price of our common stock to be lower over the term of the share lending agreements than they would have been had we not entered into these agreements, due to the effect of the increase in the number of outstanding shares of our common stock or otherwise. For example, in connection with any cash settlement of any such derivative transaction, the underwriters or their affiliates may purchase shares of our common stock and investors in the Notes may sell shares of our common stock, which could temporarily increase, temporarily delay a decline in, or temporarily decrease, the market price of our common stock. The market price of our common stock could be further negatively affected by these or other short sales of our common stock, including other sales by the purchasers of the notes hedging their investment therein.
Adjustments by Purchasers of the Notes of Their Hedging Positions in our Common Stock and the Expectation Thereof may have a Negative Effect on the Market Price of our Common Stock.
The shares of our common stock that were offered in connection with the share lending agreements were expected to be used to facilitate the establishment of hedge positions in our common stock by investors in the notes with respect to the notes through privately negotiated derivative transactions. The number of shares of our common stock offered in relation to the stock borrow facilities may be more or less than the notional size of investors’ desired hedge positions. Any buying or selling of shares of our common stock by investors in the notes to adjust their hedging positions may affect the market price of our common stock.
Changes in the Accounting Guidelines Relating to the Borrowed Shares could Increase our Reported Loss Per Share and Potentially Decrease our Common Stock Price.
Because the borrowed shares (or identical shares) must be returned to us at the end of the loan availability period under the share lending agreements or earlier in certain circumstances, we believe that under U.S. GAAP, as presently in effect, the borrowed shares will not be considered outstanding for the purpose of computing and reporting our (loss) earnings per share. If accounting guidelines were to change in the future, we may become required to treat the borrowed shares as outstanding for purposes of computing (loss) earnings per share, our reported (loss) per share would be decreased or our reported earnings per share would be reduced and Sirius common stock price could decrease, possibly significantly.<<
Where were you Mr. Journalist on this? Where was any person calling themselves a financial reporter? I'll tell you where you were. Right where you are today. "Reporting" the obvious bs that incites readers anger (like mine). So you can get clicks and posts...thanks bud!
Now my disclaimer to the above is I would never wait for you to tell me anything in the MSM. Reading about and understanding my rip here is my or any other investor's responsibility. That fact that I missed this has now made me a more diligent and wary investor and trader..that's what's important..it's to learn. So don't pat yourself on the back. I'm not blaming you one iota. I'm merely calling out that you missed the real story behind the story. And now, as the SP bumps along the bottom, you are "compelled" to yell fire in a dark theater and then write an article about it and call it your duty. Excuse me if I'm not impressed by your adroit, copy-cat, non-forward-thinking reporting skills. Sorry. Just doesn't cut it.
Guys.................. we have been together in this great fight for such a very long time. We can analyze a point of view or individual actions ad nausium........... even to the point that we would run the greater risk of seeking our own self destruction. The prize is near and obtainable............. we have but to reach out......... and take what is rightfully ours. Our strength lies in our collective resources. I urge you......... for the good of the many.......... to return to the battle line. The enemy is before us............. let us strike him with the hand and sword of the group. It's determination and strength has never failed us and united......... will continue to be invincible. I urge you all to rally around the Big Blue Dog ............... It is your time...................... He waits for you............................................... .
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