Shorts Bet Against SIRI, But For Emmis and Entercom 50 comments
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Sirius (SIRI) reports earnings on Thursday. Wall Street does not know what to expect from this NASDAQ stock, which has had a rollercoaster of a ride this year.
The short position is rising, and currently stands at 4.7%. The price has been stable, but trade is thin. However, a number of related stocks - Emmis Communications (EMMS), Entercom Communications (ETM), and Cumulus Media (CMLS) have all been strong price performers in the past few days.
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The above quote "The short position is rising" is 180 degrees off the mark. The most recent bi-weekly short interest report was another decline of 7,107,105 shares - the lowest short interest by figure by far in many months. The "pro's" have been paying up - at losses - to cover short positions, as seen in the following representative figures:
3/31/09 181.2 million shares short; 4/30 158.1MM; 5/29 175.7MM; 6/30 194.8MM; 7/31 134.4MM; 9/30 89.3MM; 10/15 82.2MM.
As the share price of SIRI has been rising over this time span, losses on short positions have been steadily building. That is why "Pro's" have been reducing short positions - totally contrary to the erroneous statement in this article. They are paying up to cover to avoid further losses into the future, as SIRI is now trading from technical strength and projecting further upside potential over the intermediate term.
I may have given you a tough time recently but I do respect some of your comments. It appears this chart is up to 10/30. Your numbers say 10/15.
Data Explorers is a privately owned financial data and software company headquartered in London, UK. The company provides financial benchmarking information to the Securities lending Industry and short-side intelligence to the Investment Management community.
Data Explorers offers access to a data feeds and products for quantitative measurement of securities lending, performance and risk. The company is based in New York and London and collects data from market participants including Lenders, Beneficial Owners, Custodian Banks, Agency Lenders, Borrowers and Broker Dealers.
Data Explorers was established in 2002 by Mark Faulkner, the author of the Guide to Securities Lending Markets.
Donal Smith, formerly of Thomson Reuters, was announced as CEO on 4 March 2008 and has sinced hired Jonathan Morris as COO and Christopher Holmes as Sales Director
Data Explorers data is used as a proxy for short interest data by the mainstream media, including The Financial Times, The Economist, The Wall Street Journal, and Bloomberg.
Data Explorers launched the Restricted Stock Monitor on September 19th 2008 providing data for all securities globally impacted by short selling regulations
On October 6th 2008, Data Explorers announced the "DESLI" Index - Data Explorers Stock Lending index showing the variations in the amounts of stock borrowed and amounts available to borrow in different regions and sectors around the world.
I'm reminded of the last time I played the blackjack tables at the Bellagio. I'm parked on a $1000 min table and damn near alone for 2 hours- I get deep into a very strong shoe and play heavy till I'm up about +$80,000 and they send out 2 little oriental ladies as handlers... Can you believe that- I'm taking them for 80 grand and I'm still not even worthy of a pro strong arm or a real handler---2 old ladies!
My point is---This article- Data Explorers- are striking me as those little old ladies... just interrupting the game, talking too loud about nothing, and over reacting to distract...
We are trying to play a serious game here! Do you mind...
PEACE and GREEN TRADES
On Nov 03 02:41 PM Pell wrote:
> RAF did you examine the chart that is linked and the source.
>
> I may have given you a tough time recently but I do respect some
> of your comments. It appears this chart is up to 10/30. Your numbers
> say 10/15.
I am a Siri Longer but this company (See who they are) seems to be a lil more tougher than the people you refer. Look who uses their info.
Hey the power of the media. Bottom line Siri needs to either meet the best estimate or beat the estimates to stop all this mess.
And wow look at the stock range today. High Speed making a load again today!
We need a good 3Q report so we can do R/S on strength immediately and then we need Mr. Malone to make an offer.
On Nov 03 02:46 PM 1more4me wrote:
> Since it's 3 trading days late, 2 from the CC, and about as relevant...
>
> I'm reminded of the last time I played the blackjack tables at the
> Bellagio. I'm parked on a $1000 min table and damn near alone for
> 2 hours- I get deep into a very strong shoe and play heavy till I'm
> up about +$80,000 and they send out 2 little oriental ladies as handlers...
> Can you believe that- I'm taking them for 80 grand and I'm still
> not even worthy of a pro strong arm or a real handler---2 old ladies!
>
> My point is---This article- Data Explorers- are striking me as those
> little old ladies... just interrupting the game, talking too loud
> about nothing, and over reacting to distract...
> We are trying to play a serious game here! Do you mind...
>
> PEACE and GREEN TRADES
Listen I am on all your side here. Why get mad when someone shows the truth? Do not make light of this company and who their info reaches out.
Data Explorers is a privately owned financial data and software company headquartered in London, UK. The company provides financial benchmarking information to the Securities lending Industry and short-side intelligence to the Investment Management community.
Data Explorers offers access to a data feeds and products for quantitative measurement of securities lending, performance and risk. The company is based in New York and London and collects data from market participants including Lenders, Beneficial Owners, Custodian Banks, Agency Lenders, Borrowers and Broker Dealers.
Data Explorers was established in 2002 by Mark Faulkner, the author of the Guide to Securities Lending Markets.
Donal Smith, formerly of Thomson Reuters, was announced as CEO on 4 March 2008 and has sinced hired Jonathan Morris as COO and Christopher Holmes as Sales Director
Data Explorers data is used as a proxy for short interest data by the mainstream media, including The Financial Times, The Economist, The Wall Street Journal, and Bloomberg.
Data Explorers launched the Restricted Stock Monitor on September 19th 2008 providing data for all securities globally impacted by short selling regulations
On October 6th 2008, Data Explorers announced the "DESLI" Index - Data Explorers Stock Lending index showing the variations in the amounts of stock borrowed and amounts available to borrow in different regions and sectors around the world
Don't care if they are actually Warren Buffet and Carl Ichan in disguise- this publication just screamed "Fire" in a crowded theater on what amounts to someone flicking a bic...
What they meant to show is that the short interest rose on Friday last week.. What they are NOT showing you is;, because thur-fri mid morning the sp run up .04 cents after Wednesday being as low as .56. This is actually a fairly small swing in relation to the volume on a normal days basis and the share price move. (in English--- Short interest rose a 10th of a percent in the same period the share price rose 5%...) I'm very very NOT concerned...
Bad timing- published for the hit factor- with an intent- for someone's benefit- and you can bet it wasn't for me, you, or any other long position!
PEACE
On Nov 03 03:25 PM between the hedges_ wrote:
> One more point. Do not ever ever ever underestimate the power of
> the consumer.
On Nov 03 03:31 PM 1more4me wrote:
> Timing is everything!
> Don't care if they are actually Warren Buffet and Carl Ichan in disguise-
> this publication just screamed "Fire" in a crowded theater on what
> amounts to someone flicking a bic...
>
> What they meant to show is that the short interest rose on Friday
> last week.. What they are NOT showing you is;, because thur-fri mid
> morning the sp run up .04 cents after Wednesday being as low as .56.
> This is actually a fairly small swing in relation to the volume on
> a normal days basis and the share price move. (in English--- Short
> interest rose a 10th of a percent in the same period the share price
> rose 5%...) I'm very very NOT concerned...
>
> Bad timing- published for the hit factor- with an intent- for someone's
> benefit- and you can bet it wasn't for me, you, or any other long
> position!
> PEACE
On Nov 03 03:32 PM between the hedges_ wrote:
> Has anyone noticed that Mel has his color and swagger back? He has
> got that "I'm about to make a boat load of money to Siri Doom's demise"
> look on his face.