FNG

Is a Reverse Split in the Cards for Sirius?

SL62 ... excellent, thoughtful, reasonable comments in your multiple posts above. I just double checked my avg'd down cost per share--1.1585 so I'm actually down less than I thought, only 66.35%, just south of two-thirds. Hurts but LOL and WTF; it's my fault because, as your aptly put it, "Mel has turned loose cannon" and we all got sucker punched. He was the anchor and still is, but instead of keeping longs from drifting away in the current he now appears to be pulling us under. Sure would like to get proven wrong on this. I have to work on Monday, so I will only be able to watch the market open on my trading software. I would like to be able to watch Level II action. I would be surprised if Mel and his C's read this thread and learn that savvy longs are on to the game. One point: Regarding the company being out of bullets ... not too sure about that because Mel all along has been purposefully conservative on sub numbers and other fundamental side drivers. A sterioid enhanced earnings surprise would be great. Sorry, I am getting a little too optimistic for the circumstance. Your explanation about the rate of decline and reason for it (as I understand it, short covering masked as regular buying) makes the lousy picture clear. Let's see what Monday brings and go from there. I need to take a break from this board and get SIRI off my mind. I will check in on Monday after work....

Is a Reverse Split in the Cards for Sirius?

Took me an hour to read all posts above. I have averaged down from 2.38 to about 1.14 on six significant buys and for what? To be victimized by a scam run by the very company brass that should be fighting for longs everywhere? If the more venerated posters above are correct and a new short setup is to come after a reverse split, then I will bail with the 25% remaining in my position, lick my wounds, and forever consider Sirius XM a four-letter word.

On the other hand, a few knowledgeable posters above also caution to wait for Q3 to sort out and for the Q4 forecast--so I will hold.

On the proxy, I am undecided about which way to vote. On principle, I may vote no knowing a majority of such votes could pave the way to BK. If we get "put down" as a longs, then I think it only fair to sink C-level insiders we trusted, make them publicly suffer through the shame and humiliation of failing, and of having to explicitely declare that they have. If the double dealing above turns out to be true and Mel abandons us, then It would be worth my remaining 25% to see him become the butt of bankruptcy jokes in corporate suites and board rooms throughout the United States.

Others have shared some of their feelings above. It is understandable because this board hosts a community of justifiably dissatisfied longs. My main regret is giving in to thoughts about what could have been. Could have sent my daughter to a decent university on modest gains. Could have paid off my mortgage, could have retired nearly two years early, could have bought a good used Ketch that I have always dreamed about owning and sailed blue water. Could have....

To keep this brief, I remain long but not "way long" as I have previously posted. I am reverting from investor to trader. Above, the term "exit strategy" sticks in my mind. Exit--but not yet, not until the smoke clears and a decisive move can be determined.

Regards to all retail level longs and even to the retail level shorts who play by the rules and that have traded jabs with us longs. Investing and trading remain in my blood and I know that, if SIRI has taught me anything, it is to steer clear of such stocks going forward.

(PS: I am "PM" on SiriusBuzz and "PMO" in the SiriusBuzz stock forum.)

Sirius XM's Bottom Line Could Get a Boost from "Best Of" Programming

cos1K, relmor, SL62 and several others in this thread make valuable sense. Others, the detractors, have a regression mindset. I remain long SIRI but cautious, monitoring closely. On my S-trade Elite yesterday there was an updated analysis that warned to avoid SIRI. Apparently the analyst lacks experience based, forward looking intellect. To other longs I have a caution: the economy. I my local area and Midwest region the news is not good. So banking on SIRI upside in Q4 and beyond needs to be tempered with the broader economic circumstance and forecast. Otherwise, as cos1K so insightfully put it way above, there has been no credible news that makes me believe Mel can not or will not continue to execute as planned. B of B is the first tangible, planned, step and early. My only real lament is the SP, but I've seen similar cases where a stock tanks contrary to company performance--then rebounds. I remain avg'd down to 1.50, and I am considering doing a buy big enough to put me in the 1.30 range. Maybe mid week next week....

Sirius XM On the Rise - Does Microsoft Want a Piece?

All, this is one of the best threads so far on SIRI. I got in at 2.38, currently at 1.50 even (to four significant decimal points), and aiming to be in the 1.30's next week. A falling knife? I think NOT. Much of the informed dialog above confirms my WAY LONG strategy. Thx!!! (PS: I am PM on SiriusBuzz)

Sirius XM On the Rise - Does Microsoft Want a Piece?

Good thoughts SL62. I read the 8K yesterday as soon as it was posted. Your comment on the form makes clear that Mel's switch to a new accountant was made with a positive purpose in mind.

Which Banks Are Left to Help with Sirius's Financing Needs?

PS: I am PM on SiriusBuzz.... (Got to get down to one username)

Which Banks Are Left to Help with Sirius's Financing Needs?

Regardless of what happens tomorrow, I think I will wait until Monday, earliest, before I pull the trigger again. Also, a new 8K was just released but only contained notice of a switch in accountants from Earnst and Young to KPMG. Might mean something but the Form gave no indication. Maybe the next quarterly will have real news....

Which Banks Are Left to Help with Sirius's Financing Needs?

And one more: Brandon, about three days now and counting since your article over this thread. Any sense that shorts are lining up at the exits or have started to cover en masse? Has the short ratio signaled any change in the last three trading days? I don't see it and I'm still loading, but have been doing so more cautiously. Wish I could get downwind from the shorts so I can tell if GS's sea change means major covering to come and to SIRI's favor.

Which Banks Are Left to Help with Sirius's Financing Needs?

For any furrowed brows, Sirius XM was supposed to present at the DB conference at 10:55 ET.

Which Banks Are Left to Help with Sirius's Financing Needs?

Anyone heard any news coming out of Deutsch Bank's 2008 Leveraged Finance Conference?

Which Banks Are Left to Help with Sirius's Financing Needs?

Relmor, on your "No news, no big movement. Weird ..." post, I agree. Anyone x-refing volume to SP range has to be scratching their heads. Today a four-cent range on 30-plus million shares traded. What's up with that? Horizontal consolidation zone? I think not. I think its automated shorting hitting whenever longs start pushing price north. When will it end???? Also, late news today -- so far -- is no deal on the financial sector / banking mis-industry. But since SIRI is no ordinary stock (not moving on fundamentals or based on technical indicators, just limping along under its long suffering SMA and trendline (13, 30, 50, 200 day), one must wonder what will put the stock into forward gear. B-to-B partnership surprise? Early product announcement? Some real news--from the company--about a concrete action to handle the Feb dedt? Sirius XM C-level lottery pool wins PowerBall? I'm long, avg'd down to 1.50 so I don't sweat as much as some that need much more of a turnaround. Still, this has gone beyond epic length. I'm willing to stay on board for as long as about another 18 months. But by then Mel had better be talking about the current and continuing issues in the past tense.

How Sirius XM Should Handle Supply and Demand

relmore, you're an English major? Explains your verbosity ... just kiddin' ... great insights above. Way above I agree with Brandon, generally, and your detailed reponses.

All, I have gotten into the habit of classifying longs and shorts on this and other blogs. It's almost like what's happening to the SP--every time a long contributes and short counters. As a long, I can't wait for the post-merger smoke to clear, for the company to get its legs, and for shorts to cover en masse to save their as*es.

Open Letter to Sirius XM Radio

SL62, good reply and thoughts.

Joe F., maybe you missed my "if true" qualifier. Chill out--but if you don't, pardon me for not taking any more bait. I'm focused on matters having to do with the SP. Whatever it takes ethically, legally, realistically to get the SP pointed north. Long SIRI. No position GS.

Open Letter to Sirius XM Radio

(FNG is PM on SiriusBuzz) Joe's open letter, if plagerized, is a shame; however, several of us have encouraged Brandon Matthews to compile the good ideas from his circle on at least a couple of blogs and send them directly to Mel and his management team. True, none of us are running the company but it could be that the management team actually has not thought of or has not already heard about some of the commendable ideas coming from the long trenches. I learned long ago that it is wise to accept input from all sources on a matter and then to cull to keep and implement the best. Effectively SIRI based blogs serve somewhat as think tanks. What company would disregard good info from well meaning think tankers--especially those with a financial interest in seeing the company survive and thrive? (Shorts excluded.) Long SIRI.

2 Sirius Aspects That Need to Play Out

I've noticed the market cap discrepancy by site, too. $1.99B decreases cap published elsewhere by more than half. What gives? Should a fundamental measure like cap be consistent across sites? Or, maybe cap amount at any point in time varies by site based on how fresh one site's data feed is versus another. (PS: I am PM (project manager) on SiriusBuzz and will try to update my profile on Seeking Alpha to match.)