Video capture of SIRI Level 2.....with a floating bid that doesn't get filled.

[JohnnyIrishXM]

Well then that's three - anyone else want to jump on the "let the manipulators do what they will" bandwagon....

I'll make you a deal - if enough people come in this thread and tell me they agree that the manipulation is just something we should all live with and that we should accept someone artificially/illegally holding the SP down .....

I will leave this board and not return....

Rick.with out even knowing it ,by saying there is illegal stock manipulation going on by MM'ERS you play right into their game,Which is to make retailer stock holders of which is EST. at 50 % of 4bil. shares,to sell those shares or a good portion of them to big funds and INSt...all at the lowest price and with the most trades for Commision's in their pocket.anyone who day trades a penny stock is doing more manipulation than the MM's could ever hope to.
That is why we have buy up in morning and sell at end of day(not all days,but days like TUE,WED,THUR..when people see value in SiriusXM and want in....Blatant illegal manipulation as the video shows is much different and needs to be stopped,Here i Applaud your DUE DILIGENCE.....
Big funds buy to hold at least a year,so that shows you the stock is going up in the near term,they are not stupid,so just enjoy the ride if your avg is under a dollar,or avg down if can and sell out when even,Forget the rest of this BULLSHIT!!!!

[Sworntwofun]

hey Bill, Whats going on! I'll see you and Ray in the morning for a new week!

Let kick their Butts! Tony

Rick.... You were doing good until you got here!....Bill a Good man has been on this site for a while now and someone who we respect...And your not even close on these next couple of questions.....

Do you short this stock? Do you know others that are? I mean why do you appear to WANT this stock to stay undervalued.... surely there has to be some kind of intelligent reason (or not) to justify your stance. Don't piss down my back and tell me it's raining...

But man if you feel that strongly that we are being done a injustice....
and you can make a difference I wish you All the best and Good Luck!
Tony

[Brandon Matthews]

The SEC Order and the NYSE's Decision allege that Goldman's customers carried out the illegal short-selling scheme by placing their orders to sell through the firm's REDI System© - Goldman's direct market access, automated trading system - and falsely marking the orders "long." Relying solely on the way its customers marked their orders, Goldman executed the transactions as long sales. In addition, because the customers had sold the securities short and did not have the securities at settlement date, Goldman delivered borrowed and proprietary securities to the brokers for the purchasers to settle the customers' purported "long" sales. Both the SEC Order and the NYSE Decision find that, as described in the Order and Decision, Goldman's exclusive reliance on its customers' representations that they owned the offered securities was unreasonable.

Linda Chatman Thomsen, Director of the SEC's Division of Enforcement, said, "Customers now have direct market access platforms such as REDI© and other automated trading systems, which enable brokers to execute larger volumes of trades more quickly and efficiently for their customers. However, as this case makes clear, direct access does not obviate a broker's own responsibilities under the Commission's short sale rules, and it certainly does not allow a broker to ignore apparent discrepancies indicating illegal trading by its customers."

The SEC's Order and the NYSE Decision against Goldman find that for more than two years, beginning in March 2000, the customers' pattern of trading and Goldman's own records reflected that they were selling the securities short in violation of Rule 105 and Rule 10a-1(a). The customers did not deliver to Goldman in time for settlement the securities they purported to sell long, but rather, had to borrow the securities from Goldman to settle all of their sales. Goldman's records also reflected that its customers covered their short positions with securities purchased in follow-on and secondary offerings after executing their sales.

http://www.sec.gov/news/press/2007/2007-41.htm

AND THAT MY FRIENDS, IS HOW THEY ( ISEG, NITE, etc.) ARE DOING IT! They didn't reinvent the wheel, they just put air in the tire. This should be our focus. Someone is doing this through the MM's. Instead of using 1 account, they are using several. This does not excuse the MM's, but this is what the SEC needs to be looking for, imho.

[asm610]

All I know...is I will be writing and calling the SEC and ISEG every F___king day until I break down the SEC's wall of stupidity or ISEG gets so pissed they change their number! To just sit back and do nothing is not what I learned growing up....and I am not about to become a pacifist now. I know there are some here who don't want to bother...but that is on them...I'll take up their slack and annoy the shit out of the SEC and ISEG! No one is spitting in my face and taking my money without me fighting back! This is TOTAL bullshit..and totally wrong...and those of you pretending it is a necessary evil of the Financial system could not be more wrong!

[relmor2003]

All I know...is I will be writing and calling the SEC and ISEG every F___king day until I break down the SEC's wall of stupidity or ISEG gets so pissed they change their number! To just sit back and do nothing is not what I learned growing up....and I am not about to become a pacifist now. I know there are some here who don't want to bother...but that is on them...I'll take up their slack and annoy the shit out of the SEC and ISEG! No one is spitting in my face and taking my money without me fighting back! This is TOTAL bullshit..and totally wrong...and those of you pretending it is a necessary evil of the Financial system could not be more wrong!

No it is not necessary. You should read my post to sl62 in the other thread. We werent argueing, just dicussing. I cover this topic extensively. They are necessary, but how they behave is NOT. Its necessary for them, yes. To make themselves more money and their high money clients. So no, its not necessary, and anyone who says this type of manipulation is necessary is part of the problem.

[sl62]

Guys...

I applaud all of your efforts vis a vis this supposed ISEG manipulation. However IMHO there is something being overlooked. I have been one of the few that has made any noise about this on SA and elsewhere (cos1000 is another) and I have tried in the past to get someone like Brandon or Tyler or TMF Rick to write one of their articles about it so the general public understands its concept. Unfortunately no one wanted to. What you are revealing through ISEG is what I believe to be exactly this issue playing out in reality.

The following is an excerpt from the Form 424B5
Prospectus Filed Pursuant to Rule 424
Filed Jul 30, 2008

SHARE LENDING AGREEMENTS:
CONCURRENT OFFERING OF NOTES
pg S-55

Concurrently with this offering of borrowed shares, XM is offering, by means of a private offering memorandum, $550 million aggregate principal amount of its 7% Exchangeable Senior Subordinated Notes due 2014 in an private placement.

We understand that XM intends to use the net proceeds of the Notes offering (after fees and expenses) to refinance certain indebtedness in connection with the merger, and that it intends to use any excess net proceeds to refinance other indebtedness or for working capital and general corporate purposes.

To facilitate transactions by which investors in the Notes may hedge their investments, we have entered into share lending agreements, dated as of the pricing of this offering, with each of the share borrowers, under which we have agreed to loan to the share borrowers an aggregate of 262,399,983 shares of our common stock for a period beginning on the date of the share lending agreements and ending on or about the maturity date of the Notes, or, if earlier, the date as of which the entire principal amount of Notes ceases to be outstanding as a result of exchange, repayment, repurchase, or otherwise. We refer to this period as the “loan availability period.” An aggregate of 188,399,978 shares may be borrowed by Morgan Stanley Capital Services, Inc. and sold in this offering and an aggregate of 74,000,005 shares may be borrowed by UBS AG, London Branch and sold in this offering.

The share borrowers are initially offering 183,679,988 borrowed shares for sale at a fixed price pursuant to this prospectus supplement and the accompanying prospectus. It is currently expected that the short position established by the share borrowers in making the initial offering of borrowed shares will be used to facilitate swap transactions with investors in the Notes, which will be used by these investors to establish their initial hedge position in respect of their Notes. The share borrowers may offer for sale pursuant to this prospectus supplement and the accompanying prospectus up to an additional 78,719,995 borrowed shares in the aggregate they are entitled to borrow under their respective share lending agreements. The share borrowers may sell the additional borrowed shares in various transactions at any time and from time to time after the fixed-price offering in amounts to be determined by the share borrowers. We refer to these shares as supplemental hedge shares. In connection with the sale of these supplemental hedge shares, the share borrowers, or their respective affiliates, may effect such transactions by selling the supplemental hedge shares to or through dealers, and these dealers may receive compensation in the form of discounts, concessions or commissions from purchasers of shares for whom the dealers may act as agents or to whom they may sell as principals. Over the same period that the share borrowers, or their respective affiliates, sell these supplemental hedge shares, each share borrower may, in its discretion, purchase a number of our shares on the open market at least equal to the number of the supplemental hedge shares it is selling and/or enter into derivative transactions providing it with a synthetic long position with respect to an equal number of shares, in each case to facilitate hedging transactions by investors in the Notes. We have been informed by the underwriters that no borrowed shares will be sold by the share borrowers or the underwriters to Note investors. The share borrowers, or their affiliates, may from time to time purchase our shares in the open market and use such shares, including shares purchased contemporaneously with the sale of supplemental hedge shares, to facilitate privately negotiated derivative transactions by investors in the Notes.

We will not receive any proceeds from the shares of common stock being offered and sold by the share borrowers using this prospectus supplement and the accompanying prospectus, which are being loaned to the share borrowers pursuant to the share lending agreements, which we refer to as the “borrowed shares,” but the share borrowers will pay us a nominal lending fee of $0.001 per share for the use of those shares.

The obligations of Morgan Stanley Capital Services, Inc., one of the share borrowers, to us under its share lending agreement will be guaranteed by its parent company, Morgan Stanley, a Delaware corporation.

The delivery of shares of common stock hereunder is contingent upon the closing of the concurrent offering by XM of the Notes. <<

This is the most important part:

>>It is currently expected that the short position established by the share borrowers in making the initial offering of borrowed shares will be used to facilitate swap transactions with investors in the Notes, which will be used by these investors to establish their initial hedge position in respect of their Notes. The share borrowers may offer for sale pursuant to this prospectus supplement and the accompanying prospectus up to an additional 78,719,995 borrowed shares in the aggregate they are entitled to borrow under their respective share lending agreements. The share borrowers may sell the additional borrowed shares in various transactions at any time and from time to time after the fixed-price offering in amounts to be determined by the share borrowers. We refer to these shares as supplemental hedge shares. In connection with the sale of these supplemental hedge shares, the share borrowers, or their respective affiliates, may effect such transactions by selling the supplemental hedge shares to or through dealers, and these dealers may receive compensation in the form of discounts, concessions or commissions from purchasers of shares for whom the dealers may act as agents or to whom they may sell as principals. Over the same period that the share borrowers, or their respective affiliates, sell these supplemental hedge shares, each share borrower may, in its discretion, purchase a number of our shares on the open market at least equal to the number of the supplemental hedge shares it is selling and/or enter into derivative transactions providing it with a synthetic long position with respect to an equal number of shares, in each case to facilitate hedging transactions by investors in the Notes. We have been informed by the underwriters that no borrowed shares will be sold by the share borrowers or the underwriters to Note investors. The share borrowers, or their affiliates, may from time to time purchase our shares in the open market and use such shares, including shares purchased contemporaneously with the sale of supplemental hedge shares, to facilitate privately negotiated derivative transactions by investors in the Notes. <<

Esp. as it relates to this:

>>Just today, a call was placed to ISEG. A gentleman named "Shaun" was spoken to. He said that we should file a complaint regarding those doing the manipulation. He said, and I quote, "It's one trader doing it."<<

Now, I know this is not a popular post in the midst of the manipulation eddy going on at the moment but risking the fact that I may get banned from any future SIRI parties, I feel like I must bring this up to anyone who cares to absorb it. It's related directly to the manipulation you are seeing and speak of...the only deal is the manipulation is legal. SIRI agreed to allow it as part of their agreement with obtaining 500M dollars to close the LBO. Further, as most may know, in this type of IB financing, a short hedge is de riguer. Now, this hedge is intermittent as Rel, cos1000, killer, 888's bdp, etc. know because we watched it all through Sept, Oct, Nov, et al in L2. It wasn't until October that we found out why. The way I have always interpreted it, "They", meaning those enforcing the hedge, use it as they feel necessary. There are no legal restrictions on when they can or can not throw up and All or Nothing Blocks. My fear is your road on this is going to end where mine did when I first understood this component of the deal in October. If I recall, cos1000 gets credit for first unearthing this situation in the prospectus. We were all trying to understand what was going on. Once we determined we knew what we were looking at in L2, I took it to my broker and asked him to watch L2 with me..we watched exactly what is in the you-tube video of L2. 500K, 1M/sh blocks would just appear. A that time it was not just the top entry, it was the first three sometimes... NSDQ was just as complicit as ISEG or NITE. But I said, Vince, do you see that? What he said to me is he just sees an ALL or Nothing Block order and it woud have to be filled before any other ask prices could be considered. Now I'm not saying MM's are angels. But they are also bound to execute orders that come acroos their trading desks. And it is the parties conected to the hedge that are created this manipulation..which is within their legal rights under the agreements they have with SIRI. IMHO, this is all you will get out of any investigation of this matter. Again. I'm not belittling anyone who is trying to address this or who is frustrated by it.. I'm just stating another side of the equation that is very real.

[relmor2003]

Sl62. The intent of the lent shares was so they could enter a short position, and NEVER have to worry about buying the stock back to cover. Thats fine. Enter your position, and go away. If its truely just a hedge against your bonds not being paid, then fine. If that was their true intention, which we know it is not. Since they are working with a free short, they are going to use those shares to MANIPULATE THE STOCK down, and keep it down as long as they can. This is the illegal part. Lending shares to hedge is one thing, but purposefully using those shares to affect how the stock trades on a day in and day out basis is not. So your wrong. It was illegal then, and its illegal now. What would you say to the naked short position already established way before the SiriusXM merger details were announced? The way the stock traded the second news of the merger details came out more and more, and with no news on the merger details, this stock NEVER held gains, and jump around like a bunny rabbit. All gains were erased, because the short was already active. It knew something before we did. That the merger details would be terrible and go down bad. It was not a artbitage play against the common, that is just ridiculous. If I heard that arguement again Ill throw something.

No where do I read, you can use these shorts to create a short wall, to attack the stock price at your discretion, offering these lend shares as sales on the open market, and to rebuy these shares at a lower price, and repeat. Didnt read that line, sorry. No, this prospectus does not allow what we are seeing here, and its complete conjecture to assume it is these shorts doing it in the first place.
Its also 100 percent irrelevant which shares are doing it, and whom. Its illegal any which way your go. Do I think a million complaints will matter? Probably not, but I dont KNOW THAT.
Not argueing with you sl62, my tone is calm. Its all good.

[Paratrooper_Rick]

All I know...is I will be writing and calling the SEC and ISEG every F___king day until I break down the SEC's wall of stupidity or ISEG gets so pissed they change their number! To just sit back and do nothing is not what I learned growing up....and I am not about to become a pacifist now. I know there are some here who don't want to bother...but that is on them...I'll take up their slack and annoy the shit out of the SEC and ISEG! No one is spitting in my face and taking my money without me fighting back! This is TOTAL bullshit..and totally wrong...and those of you pretending it is a necessary evil of the Financial system could not be more wrong!

Amen brother - I wasn't raised any different -

Brandon's article gave me a little more motivation to stay on - although I'm still just as angered at the lack of response from the SEC as everyone else. Apathy solves NOTHING. I'm thinking about pulling out some tools and building a flashing neon sign you could see from the moon with a big arrow pointing the SEC to the evidence. Even then those idiots might F$#$ it up. Bottom line - doing nothing is not an acceptable idea in my book. I equate it to walking into a gun fight with an empty holster - why even trade or invest if we don't ever want it done fairly? I'm not going to walk down some alley stab myself and hand money to a crook - why the H*!! should we just idly stand by...

Not me - not while I have a pulse.

[sl62]

To make things even more interesting from this lift of Time and Sales from Friday...look at all the exchanges that participate in SIRI trades:

0.30 1000 NYE 19:59:46
t 0.30 1000 NYE 19:58:13
t 0.30 29900 NGS 19:57:44
t 0.30 100 NGS 19:57:44
t 0.30 2950 NYE 19:56:44
t 0.30 3800 NYE 19:56:44
t 0.30 1200 NYE 19:55:49
t 0.31 4554 NGS 19:54:56
t 0.31 125 NGS 19:54:56
t 0.31 100 NGS 19:54:56
t 0.31 725 NGS 19:54:56
t 0.3099 7506 NGS 19:54:56
t 0.305 1990 NGS 19:54:56
t 0.30 25000 NGS 19:54:56
t 0.29 20000 NDD 19:45:31
0.29 1428 NYE 19:44:01
0.29 300 NGS 19:44:01
0.29 900 NGS 19:44:01
0.29 280 NGS 19:44:01
t 0.292 5000 NDD 19:44:01
t 0.2925 1000 NDD 19:44:00
t 0.2925 2390 NDD 19:44:00
t 0.295 2100 NDD 19:42:04
0.30 1000 NGS 19:40:39
t 0.2925 8000 ISE 19:39:45
t 0.293 2000 NYE 19:39:44
t 0.2994 3524 NDD 19:37:09
t 0.2995 6000 NDD 19:37:08
0.30 3666 NGS 19:37:07
0.30 13412 NGS 19:37:07

NYE = NYSE
NGS = Nasdaq Global
ISE = ISE Stock Exchange launched in September 2006. In August 2008, ISE Stock Exchange announced a partnership with Electronic Communication Network (ECN) Direct Edge. The deal makes the ISE Stock Exchange a wholly owned subsidiary of Direct Edge and will gives ISE an ownership stake in Direct Edge.
NDD = An acronym for 'No Dealing Desk'. A no-dealing desk broker does not have a dealing desk but instead uses external liquidity providers to provide pricing and liquidity for its clients. The liquidity providers send in competing bids and offers into the platform, resulting in the best bid and offer being displayed to the client. Trades are done in the name of your no-dealing desk broker providing you with an anonymous trading environment. Some no-dealing desk brokers may display the market depth which is the amount of liquidity available at each price. A greater number of liquidity providers providing pricing to the no-dealing desk broker leads to tighter spreads. A no-dealing desk broker may increase the spread to earn its commission.

I'm just pointing this out to show the many places bids and asks come from. Hedge shorting can come from anywhere but I've always thought they use ECN. I believe it to be the most immediate...

[asm610]

sl62,

I understand and do not have a problem with the lent shares so long as they are handled properly as relmor said! But they are not...instead these motherless sons of satan are NAKED SHORT SELIING THE SHIT out of Sirius...never settling trades! It is BLATANT...it is OBVIOUS...and it is ILLEGAL! I have no problem playing by the rules...but the rules are NOT BEING FOLLOWED by these Fargin Icehole somanabeetches! Don't piss on me and tell me it's raining out...if you catch my drift. I don't think Para or I are spouting off...we realize there will be short selling....but the continued naked short sells...equating to millions of shares that are never covered...far exceeds the amount of lent shares over any timeframe you want to check...I guarantee it!