BURTBECK

Goldman's Sirius Call: Solid Thesis, Poor Timing

To ripped--Get with it! I have not, nor would ever, short a $2 stock. I shorted at average $5.51 and therefore have around $3.50 per share paper profit right now. I agree it's too late to do it now--the law of diminishing returns plus much poorer risk/reward etc etc. But I am prepared to milk the thing for STILL MORE profit because I believe even with a merger SATRAD will ultimately be a total failure.
IF I am wrong, and the price gets up to the $4's, for example, my profit cushion will enable me to cover with, albeit smaller, gain.

Different subject---Martin's conditional approval of the merger was announced two weeks ago and it is a very good assumption that the merger will go thru probably exactly as he stated. All the SIRI longs have long awaited such a thing as the virtual second coming and the stock did zoom for a few trades the first trading morning.
BUT that was short-lived, and PPS has been significantly lower for well over a week. How come?? Do a few negative comments from GS negate the 17 months of merger hoopla?? I would be interested in opinions of SIRI PPS one week and one month after merger is official. I'll start it off by saying $2.40 then $1.90.

Goldman's Sirius Call: Solid Thesis, Poor Timing

I couldn't have said it better myself.
I attempted to on 6/25 when I made a comment on a Tyler Slavery blog at 9:19AM---interested SIRI/XM players might like to read it. It puts up a lot of numbers to reinforce the premise here.
Just for the record I established a core 5-figure share short position in SIRI 2004-2006 @ average $5.51 and will cover , I'm confident, below 50 cents sometime next two years. Also have had maybe 20 very short-term trades on SIRI short side and have zero losses on same.