SIRI Intraday Thread: Wednesday March 25th

[Big Ben]

good post Doctor G, relmor, and others.

I agree the dollar story is getting more interesting day by day. The China/Russia move is the scariest thing I have heard in years. The inflation could get ugly. We are in for trying times for sure. Good luck all.

[siriusonthego]

Found this interesting piece of information on Greg Maffei. Seems he bought 300K shares of LCAPA on 3/23. Isn't the 40% of SIRI held by LCAPA?

http://www.gurufocus.com/news.php?id=51767

[Beach Gambler]

Found this interesting piece of information on Greg Maffei. Seems he bought 300K shares of LCAPA on 3/23. Isn't the 40% of SIRI held by LCAPA?

http://www.gurufocus.com/news.php?id=51767

Hmmmmmm, very interesting

[SiriusXMInvestor]

ISEG doing it to us again. Dumping 100 shares below each last bid.

[trippingthespeculatingpos]

guy go find a chart and check if u see .16 at 10:12 today wtf is that?

[choirgirl]

Hi Big Ben, you are right, we live in Westtexas, home prices are still climbing but getting credit is difficult. We did put two houses on the market, nothing in 6 weeks, then we offered owner financing and sold them both the next day.
The demand is there, the financing is broken.
As for the market, you are right again. I am buying and selling the same day and accumulating cash, waiting for the big downturn.
On the other side, there is some improvement, but if you take a look at Europe , they expect now a 7% decline in GDP for 2009, you get really scared.

thanks for the remarks folks.....sirihope I would not sell unless you have a few pennies of gain. I am trying to move in and out with 10k moves on a penny or two. Its a slow practice but I will take anything this market will give me.

I just got off the phone with a friend who works with Sanofy Aventis, phar sales rep. I told him about the discussion and he concurs with the market sentiment. He said a rival company just let go of 20% of the work force.

He lives in Oxford, MS and knows a guy who lost his job 700k a year and he is delivering pies. Its going to be like this for a while. Like relmor said markets way over bought. The trace back down to the 6400 could be extremely violent, and it has to happen. The housing market is will never return to prior levels...of buying that is. Loans are going to go old school, except FHA....they will be giving away money. The point to all this mumbo is the jobs. People are not losing minimum wage jobs, they are losing 80k and up jobs. These jobs are not easy to replace. The affects of this are not even on the markets yet.

Side note... I was out on the InterCoastalWaterway this weekend I went to a local watering hole. It has been closed down completely and its a prime location, one of three that are close. The marina looks like a ghost town. I ventured in to speak with the mgr and she stated the had 4 boats reposed this month, and they have multiple slips open....last year when I asked the had none. You could see the concern on her face. In Myrtle Beach area housing which had boomed for years is now nonexistent. She stated, alto of boat owners where in construction or tied to the industry. They are behind on payments, giving boats back, not buying fuel, and to boot the sweet bar with kickass grouper bites is gone. Kind of scary. Discretionary spending will continued to declined.

[Doctor_G]

Thanks Big Ben.
Some in here yesterday were in an uproar over some folks talking politics. What was not touched in the discussion, was that the current and recent events to our economy are not fully a Dem vs Rep thing. Bush was anything but a fiscal conservative, and the Reps in the Senate and Congress were no better at being fiscally conservative. Bush started the bailout and spending crap late last yr, and Obama has it going in overdrive at a factor of 10 as we speak. So go ahead and do the childish thing and do the Dem vs Rep / Bush vs Obama thing all day long. TRUTH is, there's plenty of enough blame and utter insanity to go around.

Lastly I'm a conservative, so it's a gimme, that I have no faith in most Dems in DC, but truth is, at the same time, I have little to no faith in the current crop of so-called Reps in office. Just not a pretty pic in DC on any side of the aisle.

I'm with ya folks, let's not turn this place into a Dem vs Rep war. Politics have their place even in an intraday thread, but folks need to leave the childish antics and bickering aside. Stick to facts and relevance and I think we'll all do fine discussing SIRI in here. But to say politics has no place in stock talk, well, that is just not true. SIRI talk should ALWAYS dominate the discussion in here, but it shouldn't be a crime to sprinkle in a little itellectual political chat once in a while...especially if relavant to current events.

[Paratrooper_Rick]

Alot of traders got burnt in the .38 - .43 range on that ridiculous drop over a week ago. I believe time will show that .38 will be the downside resistence once we pop over .50 cents. It's likely a big mistake to sell here and lose the upside coming.

I wouldn't fight Mel's cost cutting and the fact that they are finally going into the 2nd quarter, where all the bullshit is behind them.

Week hands selling here and I will not be part of it.

I'm thinking we see turnaround sometime mid-day and then reach toward .40 -or .41 at close.

[bananaz]

I have been working the phone banks very hard the last three days. This is what I can share with you, but I have to be careful how I relay what I have found out. Please don't ask me where I got this info because the answer will be no.

There are three exchanges under investigation for stock manipulation. One of the three are under investigation for "criminal" stock manipulation.

SiriusXM will not be selling itself. Once credit eases and vehicles are bought SiriusXM will become, as many have said, a cash cow. Over the next 5 years, SiriusXM will be a "acquirer" of companies. With a long term plan of owning Clear Channel. Pay back is a bitch.

Poetic justice, if it comes to fruitition.

However, would the FCC allow them to own Clear Channel and why would they want them?

[Paratrooper_Rick]

ISEG doing it to us again. Dumping 100 shares below each last bid.

Could be they see the .40 wall coming up quick on the horizon... may be trying like hell to form resistance early .... I don't think it will hold....

Of course I'm simply speculating like everyone else... but there is good support for continued climb... and the chart's looking good for an evening peak at the wall...