siriuslylong

Is a Reverse Split in the Cards for Sirius?

Dear Friends;

I have been long SIRI for too long and have sold and averaged down 5 times since $3.00 and still have lost more than 60% on my position. Justs dumped my shares at $0.375 today and put buy orders good to cancel at $0.08 per share! I think you should too. Take a look at JAVA with a 1 for 4 split in Oct of 2007 bringing the stock price back to approximately $24. Trading down to the mid $4 range. Mel will raise capital with more caustic Convertible Prefered Shares and the shorts will have another field day smashing the stock again. Though Cramer is sometimes Obnotious he was dead on what was going to happen here. Its up to you but my thought is that we small investors to sell all our shares here and help drive the stock to $0.05 a share. Stick it to the Converatbles and then after we see the share price down again by mid 2009 after the reverse split buy it out of the rubble like JAVA here at 1/5 the price.I wrote hear earlier that Mel and the board should have done a rights offering instead. that would have made the shorts pay up, But that fell on deaf ears. Take your money and buy Ford or GM instead, at least the Government is thjier to bail them out. .