SIRI Intraday and Weekend Friday 6-26-09

**sxminvestor** · 06-26-2009, 05:37 PM

Originally Posted by S50Fan

And with a gap now at .36, there may be some more goofy shit happening Monday morning at any time. If there's gonna be a move up for good, the gap at .36 will be filled, sooner or later most likely. And if it doesn't move up for good any time soon then, .36 here we come again anyway. lol

I never want to try to predict what this stock will do, but my guess is that the big positions were taken for the Russel rebalancing and there will not be another retracement Monday. I have some powder dry, so I will buy more if I see a drop to .41 - .42 area on the open. Opens higher by 3-5 cents from the .44 we're trading now & I'm selling and waiting for a new entry.

**SiriusBuzz** · 06-26-2009, 05:37 PM

Side note: sirius xm iphone app dropped to #4 or the #4 app went to #3, depending on how you look at it.

**trippingthespeculatingpos** · 06-26-2009, 05:38 PM

actually bbi would probably be a good buy right here

**GoHerdGreg** · 06-26-2009, 05:39 PM

The way I read the NASDAQ link about the Russell Rebalance is that it is based on the *closing price* of today, June 26.

So, all the shares that have moved in AH are most likely related to the rebalance.

But the 140 million shares that moved in the last 2 minutes of trading today? That absolutely had to be a planned move by someone, market-maker or not. I personally believe it is a major, major short being removed off our backs. IMHO.

It sure was wild to watch...

**Hopeful** · 06-26-2009, 05:46 PM

Sorry guys for asking "stupid questions", but you are all more intelligent with investing than I!

If this really was just to do with the Russell index then we shouldn't really expect anything different next week?

However some have posted about shorts covering and a gap being filled, which in my opinion would mean this stock is heading further north and soon?

Lol, which is it?

Thanks everyone,

**imromo24** · 06-26-2009, 05:47 PM

the volume is still insane AH yes? I see many 20k plus trades.

**winagain35** · 06-26-2009, 05:50 PM

Originally Posted by Siriusowner

Look, the MM's can see the stops.... the stock had a run in the last few days... many trailing stops and regular stops were placed... do the math...

On the other hand, they needed to rebalance their books....

How much weight does SIRI have on the Russell ? Who came up with that ? I doubt they were trying to rebalance the Russell... show me other stocks in that index with the same blip.

Yes, it was a rebalance. Check out BBI, it was also removed from the Russell... or FNSR, or FNM. They all did almost the exact same thing.

**Siriusowner** · 06-26-2009, 05:55 PM

Originally Posted by underway

Good question....I don't know.....but that would be a good one to chase down. I suppose if all of the stocks on Russell dump list didn't take a major hit, and just SIRI did, then perhaps there's something else here. But, there is also an unknown.....how many shares are held in each of those dumped stocks by those wedded to the Russell Index? And, how widely held is each? All rhetorical questions.....I have no clue!

I've checked other deletions. You are correct, the blip was caused by the Russell rebalance. Perhaps some hedge funds rebalancing their books.

**Siriusowner** · 06-26-2009, 05:57 PM

Originally Posted by winagain35

Yes, it was a rebalance. Check out BBI, it was also removed from the Russell... or FNSR, or FNM. They all did almost the exact same thing.

I did. Hedge funds not MM's then.

**Siriusowner** · 06-26-2009, 06:06 PM

Originally Posted by GoHerdGreg

The way I read the NASDAQ link about the Russell Rebalance is that it is based on the *closing price* of today, June 26.

So, all the shares that have moved in AH are most likely related to the rebalance.

But the 140 million shares that moved in the last 2 minutes of trading today? That absolutely had to be a planned move by someone, market-maker or not. I personally believe it is a major, major short being removed off our backs. IMHO.

It sure was wild to watch...

Yes, by hedge funds.

I was unaware of the Russell rebalance today. I have been working on a marketing plan for my boss all month and only been checking this stock ocassionally. I initially though it was the MM's but now I know it was Hedge funds, not institutional investors but hedge funds... why ? Some sold the deletions and bought additions... however the reverse performers (the ones that bet against the performance of the index) may have done the contrary.... I know, it gets complicated... more if they hedge against movements with the RUT.

SIRI Intraday and Weekend Friday 6-26-09

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