SIRI Intraday Updates for the Week of 3/09/09

[mogami]

Uhhh yeah you sell them short back to your broker, not to the market. The broker does the arbitrage in house as I understand it.

What you likely saw was a broker buying shares to replenish his stock, so to speak.

My broker, TDAmeritrade, brokes siri among others. They use the ISEG from what I can tell in my order strings. That also may explain the 100 share blocks from the options traders on TD. A excercised option would result in a ton of them from ISEG.

But I digress.

When you buy a share you may be buying a share that has been sold short. There is no way to tell. The stock must be delivered to the buyer within 3 days or it becomes a "failure to deliver" also know as a "naked" short.
The sale and buy appear to market the same as any other.

[Wirestripper]

I still struggle to understand these things. Every sell is also a buy, right? To me, that transaction for 66 million means that someone was willing to sell at that price, and someone was willing to buy at that price.

Since we hovering closer to .1999, what does it mean? Was the seller ripped off somehow? Do we WANT to see large blocks like this? Seems like it can be interpreted both ways.

You really can't distinguish the purpose of a trade. Sometimes the big ones are broker exchanges, and sometimes for other reasons like a retail trade.

You really should not read too much into it. I did when I first started trading, but you can't make any true sense from watching numbers go by with no trade info to go with it. That was my conclusion after beating my head up against the wall.

But they know.....

Unfortunately, that's all we get as retail clients.

[sl62]

Oh Yeah! She's LEGAL!!

Hey Brandon? How bout some pie?

wolf..

just saw this. LMMFAO..

[Wirestripper]

yes, sure, but what I'm trying to say is that a 2K share short sale cover could be part of a 2Million share trade, or any other number that goes by.

You don't ever know what the trade is comprised of, except for the ticker.

When you make a retail trade, buy or sell, the number of shares are bundled with others. You don't see your trade go by unless it is real slow in pre-or AH. Or the volume is real low.

When you buy a share you may be buying a share that has been sold short. There is no way to tell. The stock must be delivered to the buyer within 3 days or it becomes a "failure to deliver" also know as a "naked" short.
The sale and buy appear to market the same as any other.

[sxminvestor]

You really can't distinguish the purpose of a trade. Sometimes the big ones are broker exchanges, and sometimes for other reasons like a retail trade.

You really should not read too much into it. I did when I first started trading, but you can't make any true sense from watching numbers go by with no trade info to go with it. That was my conclusion after beating my head up against the wall.

But they know.....

Unfortunately, that's all we get as retail clients.

Something just came across the Etrade newswires that Sirius files a shelf.

1 billion shelf to sell shares from time to time.

[sxminvestor]

Sirius strikes again with more fear of further dilution !

[mogami]

The difference between a trade being a buy or sell is known as momentum
What causes price to increase or decrease is called friction. When there are more sellers then buyers the price goes down. When the stock is in demand price goes up.
People who hope for a short squeeze are hoping the shorts will want to buy to cover and there will not be enough sellers to meet the demand causing the shorts to pay more. They must raise their bids in order to coax people into selling. In a panic the reverse occurs the buyers can lower their bids because people are accepting less and less to unload.
When a SP goes up it reflects buyers willing to pay more and when it goes down it is sellers wanting their money. The spread between ask and and bid reflects the demand for the stock.
Every trade has a buyer and a seller the movement in price is who is in control.

[mogami]

Something just came across the Etrade newswires that Sirius files a shelf.

1 billion shelf to sell shares from time to time.

they would have to if Liberty decided to convert their preferred. That 40 percent is already factored into SP

(It also says they could BUY their debt or common if they want to)

[Beach Gambler]

Sirius strikes again with more fear of further dilution !

???
Is there news or something I missed?

[sxminvestor]

they would have to if Liberty decided to convert their preferred. That 40 percent is already factored into SP

(It also says they could BUY their debt or common if they want to)

No, I think this is seperate for corporate purposes, likely to raise enough to cover Dec 2009 77M and May 2010 debt due.

I don't think the 66M had anything to do with it, but we'll find out.

Remember Liberty is getting over 2 billion shares of common that convert from Preferred, so I don't think it's related in any fashion.