SIRI Intraday Updates for the Week of 3/16/09

[Sirius_Long_Hauler]

I'm probably going to take some flak for this, but you can't really blame AIG right now. Those bonuses are part of a contractual obligation, as I understand. Just because a company does HORRIBLY doesn't mean you can start breaking contracts with employees.

If you want to point fingers, point them at the government for giving them money with NO STRINGS ATTACHED. Obama is just trying to make a statement to the public, to show everyone that hey look, I understand! The government has given AIG close to $200 BILLION already... you think they honestly care about $165 million?

[sl62]

What up Sl, it sure is sweet. It feels like I'm on vacation every day now. All that stress for two years was definitely worth it.

learn...

niiiiiice! Same here. What a different feeling than before. Glad we all hung in there and are around to see the otherside.

[airman]

sl62,
I am withyou brother. I would only buy in with new money as well.
Unfortuntely I had my arm tweaked real hard this morning from my wife.
She thinks descretionary money means she can spend some of it sometime
I tried and tried to tell her to wait. Oh well it was only about 6% of my position. At .255 (isnt it always like that.)
But now I have her agreement that I can do what I want with the rest of the load till the end of the summer when we re-negotiate!!

[learn to think]

Just sold 1/3 at .2783, waiting for a retrace of .01 or .02. This thing is so predictable. Like taking candy from a baby. If I'm wrong and it goes to .30, I'll still be happy.

[terrymr]

I'm probably going to take some flak for this, but you can't really blame AIG right now. Those bonuses are part of a contractual obligation, as I understand. Just because a company does HORRIBLY doesn't mean you can start breaking contracts with employees.

If you want to point fingers, point them at the government for giving them money with NO STRINGS ATTACHED. Obama is just trying to make a statement to the public, to show everyone that hey look, I understand! The government has given AIG close to $200 BILLION already... you think they honestly care about $165 million?

Everybody is demanding that auto workers give up their contracts and take less - why not bankers ?

[Sirius_Long_Hauler]

Everybody is demanding that auto workers give up their contracts and take less - why not bankers ?

Auto workers are making concessions. And last I checked, at least here in Canada, the concessions are relatively mild (I think it was something like no wage increases for a few years, 1 week less vacation, slight increase in benefits premiums).

AIG is being told NO BONUSES, PERIOD. That isn't exactly a concession, that's an outright breach of contract entirely.

[airman]

Everybody is demanding that auto workers give up their contracts and take less - why not bankers ?

No what they are saying to the auto workers is dont be surprised if you wake up and dont have a job ... you made your bed.

I for one was in favor of telling the bankers the same thing. But of course I am not running for office of the 2 major parties.

[sl62]

I agree with charts being useless, till now. I am seeing if they now can be useful. So far, its been ok. I would rethink not charting this stock from here on. Its trading more normal now, and off the bottom levels. If its done bottoming, a chart can be useful to find resistance points, and consolidated buying. I dont think it will be much use day to day however, you are correct. As this stock gets manipulated between resistance lines, and consolidated buying, which is ridiculous.

rel...

I don't disagree. I just think we have to keep in mind that the SP has to fully correct first--and we don't know where they want it. I have to believe that price has already been pre-determined (ish). It's trading normally again, but currently has a reinflation bias to it..which could keep driving it higher when you would normally expect a pull back. IMHO just hard to use the charts too closely just yet but not unworth the time to look at for sure...I plan on waiting until the first pull back and then maybe even the second before hitting the charts again. Only because we tried the charts on the way down when the fix as in there too, and they were useless to us...

[relmor2003]

I'm probably going to take some flak for this, but you can't really blame AIG right now. Those bonuses are part of a contractual obligation, as I understand. Just because a company does HORRIBLY doesn't mean you can start breaking contracts with employees.

If you want to point fingers, point them at the government for giving them money with NO STRINGS ATTACHED. Obama is just trying to make a statement to the public, to show everyone that hey look, I understand! The government has given AIG close to $200 BILLION already... you think they honestly care about $165 million?

You dont understand. AIG failed to pay them the bonuses when the failed to make any money. Peroid. They violated the contract themselves. Governement money was for the to use to survive, not pay out bonuses that are not deserved. You dont get a bonus from being employed by a company that is hurting the ecnomony. AIG disappears overnight. AIG II is born. All outstanding customers move to AIG II, and the balance sheet of AIG is sold, all proceeds to to AIG II, plus the bailout money. Every employee from AIG is fired, and replaced. See, they dont do this because then the taxpayers would save money,and money would be seen as a joke, as toilet paper, which it is. Dont save citi. Scrap it. All debt owned to Citi is washed away. Sorry, they didnt make it, so they dont deserve to be paid. Create Citi II with a clean balance sheet, and problem solved. Why dont they do this? Becuase it would be abused, used too much, and offers no consequences to the new Citi II, and shows people that money is simply toilet paper, and not what people thought it was. Basically it would send the sheeples brains into such a haywired state, they might not recover.
So no, no bonus's for AIG, I dont care what there contracts say, because they shouldnt be employed, period. If they arent employed, and the company is bk, how would they get their bonus's anyway? If the governement gave them money, they can take it back. Dont care, no sympathy.

Everyone should be as mad today as when the stock was trading at .05 cents. Were still being robbed gains, and thats hard earned money were not getting. Aparently the SEC hasnt done anything here.
Sick of seeing the ask fill, then dropping lower after it fills. By not one, but three market makers at the exact same time. Thats not being a good seller for your customers. So why are they doing it? SEC cannot answer this, call em up and ask them that question exactly. And then ask them how can 3 market makers choose the exact same thousands of a penny to move the ask down after it fills with a volume surge. The next lot up of asks is suppose to fill next, if anything those MM's can move their asks their and fill them no problem. We are being robbed people, anyone tired of it?

[sl62]

sl62,
I am withyou brother. I would only buy in with new money as well.
Unfortuntely I had my arm tweaked real hard this morning from my wife.
She thinks descretionary money means she can spend some of it sometime
I tried and tried to tell her to wait. Oh well it was only about 6% of my position. At .255 (isnt it always like that.)
But now I have her agreement that I can do what I want with the rest of the load till the end of the summer when we re-negotiate!!

airman...

we must keeps the womenfolk happy!! Helps when it comes to time to uh...other things.. LOL...