Understanding Sector Rotation 123 comments
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I was talking with a friend who works for Deutchse Bank (DB) and his wife this weekend. We were all in agreement regarding the overall market and economic conditions being nearly catastrophic. He mentioned to me that he just needed to figure out what to recommend to his clients, and we all got a little laugh (although a cynical one) out of it. That indeed is the problem, and I’ve spent days pondering the answer.
I revert back to my technical analysis and sector rotation. It is so imperative that anyone invested in any equity understand sector rotation. Imagine, if you will, a “football field,” with the end-zone on the left being the 0 yard line and the end-zone on the right being the 100 yard line. Stocks that are at the 0 - 20 yard represent sectors that have been oversold. Stocks in the 80 -100 area are stocks that have been overbought.
Over-sold<——————————–>Over-bought
0—10—20—30—40—50—60—70—80—90—100
Downside risk<————————–>Upside Potential
When a sector reaches those high 70,80 and 90% areas, its potential upside is diminished and downside risk becomes much greater. Conversely, when a sector hits those low numbers, its downside risk becomes minimal, and its upside potential becomes greater and more attractive.
Here’s the first problem. Nearly everything is oversold now, with the exception of commodities and perhaps gold stocks, although those seem well on their way to joining other sectors at the left end of the field. The question becomes, which sector or sectors will lead in the next market uptrend?
The government has yet to figure out that the way to spur the economy and end another depression before it begins is through job creation. When Reagan brought us out of a recession, it was through jobs that were created during the cold war in aerospace and defense. Hoover and FDR did it through construction in infrastructure and the Hoover Dam. The Clinton years brought us technology. The next Government funded projects for the sake of the country’s financial health will be, in my opinion, alternative energies, yet that scenario will take a year or more to begin to play out. No economy can prosper on Walmart (WMT) salaries.
So today, as I was driving home and listening to CNBC on Sirius (SIRI), a commercial caught my attention. It was a commercial for Advil. Immediately I recognized this as a new advertiser. I then recalled a statement by Mel Karmazin recently that mentioned his desire to offer a low priced solution to advertisers. Mel, you're a genius! You may not know crap about stocks but did you ever bowl me over today!
“That’s it!," I exclaimed to myself. MEDIA stocks will lead the next market! Allow me to be the first to call it. As companies look to lower costs they will seek out less expensive advertising solutions. A business without a sign, is a sign of no business! Consider help-wanted ads, for-sale ads and such. Companies that want to survive will be looking for low cost ad solutions, and companies that provide these solutions to corporate America on a national scale will benefit the most. Media such as Sirius XM will thrive, provided of course, that it can survive the current credit crisis.
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This article has 123 comments:
Sirius/XM has solid CEO and management team will pull though this,
all they need is the right moves.
The Meadia market will be the next bubble....Again!
There were only like 3 stocks that had positive gains on the NASDAQ yesterday???
WTF??? SIRI is fine...
Now more than ever SIRI should seek marketing partners like NetFlix or Best Buy to raise subscriptions.
seekingalpha.com/artic...
How many people do you think actually listen to Cramer after the bs he has preached in the past. He has been right 50/50. Midas well spin around and point to a stock and say buy/sell every other time.
Good to see ya still posting here!
I read your comment yesterday about the not going below .40 and I think I misenterpreted it...
Mel spent 2 million and bought @ about 1.37 to averaged down.
I believe he is now averaged at about 3.00 not sure.
Why do you think he hasn't averaged down again at the current price ?
Also do you think it is better for the shareholders if he doesn't ?
Only and the only remaining issue with SIRI must be resolved by this.
Any comments?
BRING THE SHARE PRICE UP!!!!
PPS VALUE !!!!!
Thats because those companies dont have 3.4 billion share outstanding...
Whatever miniscule cred he had left, he lost yesterday. So while the market comes back this year and next and he'll be once again making money hand over fist for his "charitable trust", all the dopes who are now keeping money in their matress will miss out. I don't know who's worse, Jim Cramer or I'm Not Jim Cramer (lol)....
Mel spent 2 million and bought @ about 1.37 to average down.
I believe he is now averaged at about 3.00 not sure.
Why do you think he hasn't averaged down again at the current price ?
Also do you think it is better for the shareholders if he doesn't ?
For the time being, he's blacked out b4/after end of Q. Will he in the future? Probably after earnings release sometime in Q4 is my guess. That will be a bullet for him to use to increase share price...I'm sure he's keeping that bullet dry for a rainy day. Some might argue it's raining now, but yes and no...
Hillarious!
LoL
"OK boys, now you all be nice and get in the station wagon.And, when daddy takes you for ice cream, get out in an orderly exit fashion."
What a load of crap.
so.....uh, what's your point?
SIRI fans. The damn thing WANTED to go up today...i'll be damed if it didn't try. But not a bad stand today. This stock is just EXHAUSTED from going down. We are definitely building a bottom into this stock. First we thought .68 now here @ .50. Pretty much the same diff. Now we just need some good news from Mel and the boys and it's time to blast off... All this crazy negativity in the market is getting bothersome isn't it? 5th down day on a row. Nothing drops forever. I'm also sick of all these Wall Street cry babies--better named p#ssies. Ooooo, I'm so scared I think I'll just take all my money and go home and curl up in a ball--call me when it's over won't you? I just can't bare to even watch the tape anymore!!! We're only in the 5th inning! WHAT A BUNCH OF WIMPS. Ok, so we'll just wait a little longer until these p-waists grow a pair and get back in. In the meantime make them some warm milk and cookies and give them a little pat on the head. There, there....
Oh yeah and J. Cramer is still a loser. He's the biggest p#ssy of 'em all.
Am I wrong?
Don't forget Weinkes said .50 and thats where it has been roughly for 4 days (+/-3 or 4). So until GS either gets their converts or the company refinances... I'm pretty sure that we will be here for a while.
yet retain all his previous intellect.
Furthermore, what we need are purchases that make headlines. We need Howard Stern to drop a cool 5 Mil, Oprah to slam a quick 10 Mil, etc. The problem is that Oprah and Howard an the likes are not investors, they are the talent. I am willing to bet that if you asked either one of these individuals what the share price of SiriusXM is, they would not have an answer, they pay people to worry about that stuff. We should research who Howard an Oprah have as financial advisors, and begin hammering them to encourage a repurchase in the Blue Dog.
BosS
Judging by this morning's premarket, it's clear what's going on on Wall Street--once again. Talk about manipulation. The people who control the big money know exactly what they are doing. Let's just take the Dow but each market follows the same. So overnight, the Dow futures were down 350. Then early this morning there was a global coordianted rate cut--which two days ago I heard at least 3 "pundits" say "that's what the market wants." So on that news, the futures go UP 212 (a 500 point swing). Then no less than 30 minutes later, Target and JC Penney announce lowered guidance (btw, which we know our Mel already took care of long ago) and the futures are down 130. Talk about stupid silly. But regardless of that, we're back in the same mentality we were in after 911. These pukes are once again colluding to take the market down as low as they can possibly go so they can then buy in at garage sale prices across the board. Nothing will satisfy them now because they don't want to be satisfied--and they can pick an choose on what moves the market. What they want is to just keep taking the prices lower so they can rebuy in and make the most money. THAT's HOW THEY'RE GOING TO MAKE THEIR YEARS THIS YEAR!! Tank the market and then all pile in at once so they instantly make huge cash. WHAT A SCAM!!! And of course Cramer is in on it--why else would he blatantly tell people ON THE AIR to take any money they might need in teh next 5 years OUT OF THE MARKET. Don't believe ANYTHING else. Great Depression my ass. And the banks are in on this little charade too. I have to go here, but my point is DO NOT BELIEVE any pundit explanations. This is pure collusion to allow max money making for fund managers who haven't made a dime this year or are in the red. It's all BS!!!
To be continued...
Perhaps today is the day that the global economy will start to turn around...although the governments that are slashing interest haven't gotten to zero percent yet, and interest rate decreases have been going on for months with no apparent effect!
If Mel buys more Siri now, I don't know if it should be considered dollar cost averaging because it might just be that he'd be showing that he's confident in a good, undervalued company...
Might Be
SIRIUS?
Why it doesn't go up?
Will it drive to $1 again just before the last day?
I also believe that this is a more complicated accounting process because of the different accounting practices used by both companies prior to the merge. The format will probably be each division, XM Holdings and Sirius Sat, separate and then consolidated as we saw in Sirius' Q2, with a lot of explanations of the impact on metrics of the two companies going forward. Metrics such as the counting of OEM subs and ala-carte programming, affecting ARPU and SAC, and the impact of revenues from Best of Both, will be important for analysts to fairly assess the business model. YOY comparisons will not be that helpful in this new model.
We haven't heard anything about the retail supply chain, the used car market, and the condition of the refinancing in 2009. Wrapping all this information up in a neat package is going to be a monumental and very important task that needs to be done flawlessly for the company to renew investor confidence. We shall see how well Mel has chosen his team in this 3rd quarter Conference Call. If all we hear is more of the same, outlining merger costs and the complexity of consolidation, we as shareholders are in a lot of trouble.
If you forget about manipulation for a minute....
SIRI has followed the market, almost to the letter.
SIRI has tanked almost evryday the market has....So manipulation or no manipulation I think the stock price would be about here anyways,
Now I DO AGREE manipulation is keeping it at these levels...
Any comments or do I just sound like an idiot?
If a company trades for 30 consecutive business days below the $1.00 minimum closing bid price requirement, NASDAQ will send a deficiency notice to the company, advising that it has been afforded a "compliance period" of 180 calendar days to regain compliance with the applicable requirements.
Thereafter, Capital Market companies can receive an additional 180-day compliance period if they meet all initial inclusion requirements for the Capital Market, except for the bid price requirement.
Does anyone has idea on how is the response of "A La Carte"?
LONG SIRI!!
If you look back over the last quarters, the silence during this period before reporting in not unusual. As killerkaul said above, the positive spin, would be that they want to announce the good news (surprises) at the same time as the bad 3rd quarter numbers (expected). Silence is not necessarily a bad thing just frustrating to shareholders hungry for some good news.
I should have gave you credit in my statement, I do now remember you saying that, I just couldn't remember where I saw it. sorry.
I went into Starbucks today, And they had a big banner across the ceiling advertising Starbucks XM music channel!
Give up a latte a week and listen to Sirius all month. Not a tough decision for me. I would shot myself in the head on I-95 if I didnt have Howard to keep me sane. I dont need no Morning Zoo's or Whacky Morning Show. I need lesbians, strippers and Artie.
If SIRI is above $10 a share by Christmas (Without a Reverse Split)… We are all going to go party at the Circus Circus Casino in Las Vegas. And celebrate our “Winnings”!!!
All in favor say AY!
Basically because this is the level that GS said it was going to be at, and wants it at, and will manipulate the price to keep it here...
It helps a lot that Mel is a jewish insider. Lets see if this price manipulation was to screw all shareholders, or to gain a buy in thats acceptable to big money, or to negotiate a reasonable buy out offer(say 2-3 dollar range). If this stock takes off over those amounts in the next year, we know the answer. If they sell a low ball offer, we know they won(Mel and others would be paid in unseen ways)
Very interesting times, and this stock seems to be in the middle of a lot of intesting things going on right now. Still recommend Sirius as a hold. Dont count on the 1.00 by the end of the month, everyone might be thinking the same thing.(to avoid be delisted condition, etc...)
Market is doing us a huge favor right now by tanking quickly, we WANT that.
sorry guys
Your behind the scene possibilities continue to get deeper and deeper.
They are very entertaining and VERY believable...............
I have no doubt that there are workings that go far beyond our wildest ideas or any conspiract theory, not just with this stock but government and life in general..........We are a herd without question...........
Anyway, my question for your new theory is the same as always, do the people in controll want to wipe out the common shares or not and why?
I think you've done a great job explaining the possible motive of those in controll for wanting to kill it versus just running it down for a low entry.
Please feel free to elaborate, I never get tired of reading your thoughts.
Thanks..........
I guess you have to analyse the players involved, study their track records, and try to use current facts to pretend future behavior.
There are a few senarios that are important.
1. Total economic collapse.(Dont worry about it, your Sirius stock cant feed ur family in paper form)
2. Depression, slowly, over time gets worse. If this is the case there would be a direction in the FED completely different. They appear to be attempting to reliquidate the economy, problem is there arent enough "good" investments out there, or sure things banks need to make money.(Our system is built on a dumb premise that debts will be repayed, economy always grows, etc...) You know, dumb stuff.
Not actual work or real assets.
So, if banks can profit from free money enough to want to lose a lot of it again by feeding the slave masses with money, then they will. When the banks are done consolidating and their balance sheets looking a lot better, than the "game" is afoot again. Will Sirius be around long enough to reflate the economy? In the last depression they did not attempt to do what Bernake is doing, in essance they did the opposite. They let the public just have less and less money. The roaring 20's saw a huge inflextion in cash, so they cased "bad" investments, and got clobbered.
We live in a fictional society, where our future work is paying for what you see now. That isnt substainable forever in a multicultural, multinational, competitive world system, eventually it will make you pay for it. How long will the world go along with the fiction, is dependent on how much control the central banks really have.
How does this all relate to Sirius, it relates exactly to it. Sirius needs money, needs peoples discretionary money. When talking about any stock, now more than ever you must discuss its relationship to the flow of money, credit, and world conditions.
They will inflate the currency again, debasing the dollar in the process, but who cares, they have to keep the fiction afloat, and Sirius will benefit greatly. People like to spend money, never more than ever. This is good for Sirius. We are now at least 2 GENERATIONS removed from responsible money philosophies. People dont save anymore, they spend. This is good for Sirius. There will be another inflation in a bubble to support this system, and housing will rebound slightly, temporarly, for a few years. Car sales will increase. I dont think it will last for 6 years this time or so, just 2-3 years this time, and less and less. But for now, we might clear out of this stock with a fat wallet before that happens.
If this drop follows the historical timeframe of the last time it went below $1, it will be April before we come out (May converts).
If this drop follows the last time it hit the 40s then we have at least 8 more weeks of this crap (Gee Christmas sales), with the bottom hitting right around relmors target within two weeks.
( I believe it will only hit .38).
tag it, bag it. . . . . . . ring me up for 10K if it goes below .40
It started at that, it would be ironic to someone. The market is going down still more, probably taking Sirius with it.
Its still October/Early Nov, bad months right now for investing in a spec stock.
As far from news as we were from our last bit of news... Were in la la land.
Easy to convince someone RIGHT NOW that Sirius wont make it, therefore justifying any price(it wont get past a certain point, harder and harder to get it lower, now that have real force coming of realism.
.25 is too obvious and too low, could cause unforseen problems for manipulators(unforseen buying, too low,etc...)
They saw a chance, and they took it. Kind of like convincing everyone every year lately that commodities arent going up, food isnt going up, and gas is now in a bear market. All jokes.
Thanks for the info. I think it's pretty clear that if we go into a depression this stock and company are done being that this is such a luxury item.
I'm interested in hearing more about the possibility of this company being controlled. Obviously you don't KNOW what is happening and why. I'm interested in your knowledge of why people and organizations do what they do, current economic conditions aside.
You've given some very interesting theories in the past, ie. 1) Goldman is holding the share price down to manipulate. 2) Mel and SIRI are holding it down to screw GS into a better deal and/or let the banks that will take the financing get in on the ground floor.
Everytime you've come up with one of these theories you've backed it up with some very understandable reasoning.
That's what I'm looking for. "IF" Mel and SIRI are already under the controll of a higher power (which is not hard to believe) what could be their goals? What could they possibly gain or lose by tanking the stock or by building it up? Is there a downside for them if it tanks?
These are all extremely hypothetical scenarios that no one could possibly have answers to. BUT, I'm always interested in your opinion of underlying interest that are not obvious to people like me.
Thanks.
Regardless of the emotion driving the market at this time there are very good, well executing companies out there that are being taken down right now. Companies that can prove that they are executing on their business model will rise from this over sold condition with time. I hope Sirius is one of them.
As said above and I agree, Fear will take out investors with the least tolerance and have them run to safe havens like CDs, Treasuries, and bank deposits. When the turn happens, the money will not be where it needs to be to recover and real cash losses will mount.
It will be the fools that listen to Jim Cramer saying take your money out of the stock market now, that will pay the most. He uses needing the money in the next 5 years for a criteria. How come Jim doesn't tell you to take your money out when it matters, like when the market is breaking records on the upside? Didn't he call The Bottom two months ago? What happen?
Too bad for you. You're not watching with your eyes open. Cramer told anyone who needs their money within 5 years from now to sell sell sell and take it out. But who even cares about that. Cramer's a nut case and an idiot. That's just drivel. I could care less about any panic artists who put their money in their matress...so, enjoy!!
Are they being controlled? As a large major media company that has been allowed to receive licenses to operate, I would assume they would have to be. And when they wanted them to consolidate(notice how everything now is consolidating, and has been for years, the government loves larger bigger corporations, and fewer of them)
So they are being controlled, they play with big players, and their stock is being manipulated. Who looks to gain the most if the stock tanks? Not the NFL, or other sports, not Sirius or its stockholders, and not the debt holders, unless they think their is no future is satellite radio and they just want their money and they dont want to be the reason they dont make it, etc....)
The biggest question is do the debt holders make out if the company gets sold off or gets taken over. If they get bought out, then pay of the debt holders in cash, would they want that? Are the debt holders so worried about default they will tank the company to force them to pay? But since they dont have the cash on hand, or stock value able to do it, etc.. that is not likely.
Everyone who has purchased this stock as it has fallen. Its easy to get it over $3 with help from the manipulators. The manipulators will be seen soon. Which direction will it go. Will it go to .01 or will it go back over $2. Only time will tell. Find out who bought this stock, and you will find who will gain. Who is shorting it, and what do they have to gain with an absolute failure. Do they want it out of business? Do they want to buy it cheap(more likely) or do they want to get a lower coversion on their bonds, etc....
These are they questions, and when we have the answers we will know. I dont think its really possible to know, just make your best educated guess. Thats why this is a spec stock, cause you see, right here, what were doing is speculating, lol. Not like a mining stock right now, I can pretty much guarantee I know where those are going, etc....
Just wait and see, enjoy the ride, its fun. Just keep on your toes, and try to sell out and rebuy lower with more shares(use to rebuy the same amount of money you sold out with, when the price drops you will be able to buy more shares), etc... you should be ok here. Lets see what there numbers come in at, im curious to find out. Q3 should be interesting, and Q4 will reveal a little more, then we have news of refinancing, or just before or at Q4, etc.. Then its on to the radio that plays both systems comes out, and new customers will now come in at 18.99 or something instead of the mandated max of 12.99. Nice trick, and they will make money on this. They will start to shine, when they are ready to release products that can play both xm and sirius. They dont want to spend advertising dollars in a depressed market any more than they have too, plus the products they push now arent fully functional yet to some consumers standpoint.etc..... This is a growth stock soon, if it stablizes in a range at some point.... Look for flat sp, then big jumps and drops, etc... Should be plenty of fun.
But the bigger picture manipulation is just a joke. All of the bs media and pundit analysis--a joke. And you will all see of this play out in the coming weeks and months. Suddenlly, oh guess what, things are starting to look pretty good...oh really?...bs... Look at the late day action today. Total manipulation. Depression? What a joke. I'm laughing my ass off at all of this because none of it is real. If you sell your holdings in fear, you make it YOUR REALTY and then it's YOUR problem. It only means you're of the weak. So sell and go be weak in your house---lock yourself in your closet too and do everyone a favor and STAY OUT OF THE STOCK MARKET PLEASE. Hank should just keep his mouth shut since he really is clueless. What business does he have spouting his stupid opinion @ 3P (ah, unless, he knows what he's doing...oh yeah..he's a long time Goldman guy...you bet). I could care less what he thinks. But if not his big mouth, there are any number of things the market will use to sell off. Whatever's handy. I could care less because it's funny to watch. Comical. Anyone who buys into the fear/doomsday tactic is also comical. I will still be here adding to my positions and laughing all the way. I can't wait until tomorrow morning when shorting becomes legal again. Good. I hope the Dow is down 1000 tomorow! I'll be laughing then too! What you're seeing is nothing more than a manufactured fear frenzy that will abate as soon as those in control are bored of breeding fear. Could be tomorrow or it could be 2 years from now. It's at their descretion. The banks could start lending more tomorrow if they wanted to. What you are seeing is how powerful the manipulators are. They forced the gov to pass that bill and are laughing about how powerful they are to be able to do that--and then still took the market down by running away like p#ssies. They forced the Fed to lower the target and are laughing at that power. And they still will do whatever they want to. Sit on the sidelines, horde their "cash" and laugh at the world. Move in big then out big the same day so they keep the market heading down. Fools. What they want to do is take advantage of this golden opportunity of fear that only comes around a few times a century. Keep the credit spreads high, keep the pressure on. Do you know how much money company's like Pimco and others are making while they are laughng at you, and watching you panic and squirm like a worm? Not me, I laugh at them every day because I see their tactics (which are so transparent). The media wants your ratings so they help breed the fear so you'll watch and call in to their shows like a scared kitten--so they can charge more ad dollars. Simple!!
Well. I hope no none does bodily harm to themselves because of this illusion. Don't let them win. The more people who stay strong, the more opposition to the fear there will be.
LoL
They are fun to read though!
Ok Doug. I hope you "check in" and read this post because I refuse to subscribe to your stupid website. You are a LOSER and a NOBODY Doug. Your article says nothing about when the debt is due or in what configs--did I mention you're a loser? You cite that SIRI is down from a 52wk high of 3.94. No mention of the merger deal Doug? or the share revalue Doug? Hmmm, let's see. You say >>a business that has lost it's subscriber growth<< Doug? Doug. Did you know SIRI has NEVER reported a decrease in quarterly subscriber growth? EVER in 10 years Doug? Doug, you're a loser and you obviously don't look things up. Hey Doug, did you know Sirius XM now, today, has over a 19M subscriber base? Where is that in your stupid worthless article Doug? Where are your mentions about the new company Doug? Nowhere, because you are a huge worthless A-hole Doug. I hope you "peruse" the blogs Doug, so you can feel my shoe landing it's target right between your legs Doug. Odds Doug? I give you 0 odds that you will ever be anything other than a 2 bit, nothing, washed up "writer" of junk articles about nothingness. This article you "wrote" is an inane, baseless piece of garbage. You should hang out at the bar with Rick from The Fool, where the two of you can talk about your next inane foolish "writings". You're a nobody Doug. A NOBODY. SIRI shareholders are not dead Doug. You are the one who's dead. Hopefully one day you will get cancer and die a gruesome and painful death. I will now hope this happens to you everyday I wake up and I will not forget one day, Doug. As a SIRI shareholder, I will laugh at you and your misfortune and spit on your grave you A-hole. Kiss my ass Doug!! As a person, you are truely worthless.
****************
Sirius (SIRI): Down To $.45, Off Nearly 90%
The dirge is just about over for Sirius XM (SIRI). The stock has marched down so far that the market is saying there is little prospect for recovery. The company is plagued by a combination of two things it cannot escape: tremendous debt and a business which has lost most of its growth prospects.
Shares in Sirius hit $.45, down from a 52-week high of $3.94.
There is merit in looking at the stock price of Sirius compared with GM (GM) over the last year. Sirius gets most of its subscriptions from new car sales. That market is locked up due to a combination of high gas prices, falling employment, lack of credit for car loans, and the general economic malaise.
Over the past 12 months, GM is off 80% and and Sirius is down more than 85%. It is likely that in the next two quarters, Sirius will announce that its subscriber growth has all but disappeared.
Sirius has more than $2 billion in debt. That could not be refinanced today. Conditions may improve between now and the end of the year, but no one would give out odds on that.
Satellite radio may live on, but the Sirius shareholders are dead.
Douglas A. McIntyre
I'm with ya.
I laugh everyday the major indexes still finish down. It's all pointless. Actually I am very happy when the Dow has a 600 point loss, It drives Oil and Gas through the floor and for all i'm concerned, it can stay that way...
I officially hate everyone that says the stock is dead...
First of all, Goldman Sachs Expected this stock to be here right now....
Second...This stock has been this low before, and recovered to $8/share
Third...As me and Cos have stated before... SIRI is only following the market down.... It's not like SIRI goes down and the NASDAQ goes up 150 points...
Right on...if you really want a laugh watch the Fast Money idiots--esp. Jeff Macke. Funny stuff as they shake in their boots because they don't want to lose their bonuses, luxury houses or summer homes in the Hamptons. Meanwhile, while they spread the fear. Comical!
You've just committed the royal sin of trading. Sell at the low, incur the loss and convince yourself you will make it back with your now liquid position. You are in dangerous territory my friend. I know this because before I learned how not to do this, I committed this sin myself--and paid for it dearly. Listen, I wish you no harm, but please watch out for yourself. Please be careful because there are few that can pull off what you have convinced yourself you can do. Again, I hope you are successful but I'm saying this because you are in very tricky territory... Peace.
Get ready for another day of listening to the cry babies!
It's all good...I'm just LMMFAO at these idiots and cry babies...unfortunately there is no posting available where Dougie posts his bs comments otherwise I would have, like with Rick on The Fool. Where do they grow these guys? I just hope he cruises the blogs to read my comments. He and his irresponsible "reporting" deserve a beat down.
SIRI doing their thing today...
I am out of SIRI now but will be back when XLF retraces 20%. That will be the bottom.
I did well last week with NCC, but I would not advise that move again since news came out today that NCC is looking for buyers - just like Wachovia did before they went under. However, if the Fed pushes NCC to sell to a larger bank, there may be a huge opportunity for 1000%+ gain just as Wachovia and Bear Sterns saw when they recovered from the very bottom after the selloff - that is if common stockholders are not wiped out. A risky play but with HUGE rewards.
the 100 share buys are due to limit/partially filled orders. Obviously no one would only buy 100 shares of this stock at these levels. Because the MM's are changing fairly quickly on this stock, you wind up with many partially filled orders at a certain price (due to the quickly changing MM price and block sizes). As a result brokers have no choice but to wait until a MM is willing to deal--or they may have to go to multiple MM's to fill the order. As muley said, it's also a sign that there are a lack of sellers at your limit price--so...it's let the negotiations begin! And they wind up parsing out 100, 200 shares at a time to fill an entire, say, 5000 share order. Broker commision stays the flat fee for however long it takes to fill the entire order or with however many MMs. And of course there are no Market Day orders on stocks below a buck, so all are Limit.
I love your stories... keep writing!!