cos1000

Federal OEM Bailout Looks Positive for Sirius XM

Gekko13, I for one find it more interesting when I know someone's position on the stock / company they are commenting on. I have debated with folks on the opposite side of my "Long" position and have found some of their arguments quite credible. I have debated or discussed this company with Longs who I also disagree with, usually because they're looking for the quick price pop and out. These folks say their long siri but really are just traders. The fact is Shorts have made money and Traders have probably broke even or are now in a stock that they can't get out of without taking a difficult loss because of the lack of pop on the merger approval. Then their are folks like Vicar who have no position, at least that they're willing to declare, and just taunt, with peripheral metrics that really matter little to the company's future success.

So for my part, thanks for sharing your investment experience , as painful as a margin call might be, and let's see what September will bring. Some interesting things that have been done in August are:

1. Merger Appeal Date at the FCC went by I believe on the 27th without any major news.
2. The sale of the 7 % Exchangeable Senior Notes financed by UBS/ Morgan Stanley for XM using Sirius' lent shares for shorting have probably already hit the market and we didn't go to a $1 / sh.
3. We've had complete silence from the company as employee reduction and reorganization plans are being completed, at least the first round, and those savings will begin to be felt in the 4th quarter.
4. "Short" interest between Aug 1 and Aug 15 went down in spite of #2 because the XM Arb Players covered their Siri short positions post merger to cash out on the conversion, and we didn't go to a $1.
5. "Short" interest has been and will continue to decrease as we head to the end of the month, as most shorts cover before the company guidance for synergies, debt, and revenue are rolled out, and we haven't gone to a $1.

With all this negative impact stock activity happening and we put more distance from the merger announcement I am looking forward to September.