Sirius (SIRI) Finally Killed the Shorts
Sirius XM since the merger, had all the potential in the world, without the credit lines. Now, that the credit was taken cared of, even if there were some crazy deals, the stock looks to be in the clear. A stock that was once shorted from higher than 3.00 all the way down to single digit cents, finally has lift off. Sirius XM ( NASDAQ: SIRI ) www.TradeKing.com is up 10% in Monday mornings pre-market, which signals that last weeks rally was not a farce. Many traders that I talked to sold on Friday, who bought in at .10, now they could be wishing they did not.
www.TradeKing.com
Without the news of the I-Phone application, active day traders thought SIRI would not budge. With just a simple credit rating boost last Thursday, SIRI has recaptured the trust needed by financial institutions and investors looking for a stock to make some money within this troubled economy.
Whether this is just a short term rally, or the signal for much higher, is yet to be seen. With most of the shorts gone, for now, it looks like a very attractive stock. The stock, while in the penny stock category, has had many rises and falls. Traders have manipulated this stock for quite some time, pushing it exactly where they want it. The problem the manipulators are now having, is the new found high volume SIRI has been experiencing, they may have finally lost their grip.
TradeKing.com. $4.95 trades + 65 cent option contracts. Free real-time quotes. Find out why TradeKing is the King of online brokers.
Full Disclosure: This trader is LONG SIRI and did not sell on Friday and is looking at the long term.
Update: The stock did not crash after open, and is up 21% as of 10:00 am
Comment by DEAN on 20 April 2009:
LIME GREEN AND FORREST GREEN IS THE SAME RIGHT? IT DOESN’T REALLY MAKE A DIFFERENCE CAUSE THE BEAR IS BEING SHOT OUT OF THESE WOODS!!! LONG SIRI!!!!! LET IT RIDE!!!
Comment by jms on 20 April 2009:
well it lost its 21% by the end of the day and was still dropping after hrs so yes the stock did crash or wait was there some signs of short selling? The Bear got a hold of the stock towards the end of the day as the stock lost its hold of its gain. be prepaired for tomorrow probably more of this until it gets to .40 to .45 especially if it went from .63 to .48 for this stock
Comment by jasonleen on 2 September 2010:
When we are talking about innovation,shoes are probably not the first thing which comes to mind,but fivefinger footwear maybe the one of the most interesting and innovative shoes.“We created FiveFingers as a glove for your feet,” MLB Jerseys for sale,P90X DVD on sale,vibram five fingers kso,cheap tn shoes,Nike Air Max 180,Cheap Jordan shoe,cheap nz shoes ,cheap r2 trainers,air max 2010 ,cheap jordans shoes,Gucci handbags on sale ,vibram five fingers classic ,buy ugg shoes ,five finger shoes ,new lv bags ,Mbt Sneakers ,Chanel handbags shopsays Tony Post, CEO of Vibram USA.Then you may know something from Tony Post.
The toes classic shoes ‘upper is made with a thin,abrasion-resistant stretch polyamide fabric.Our patented Vibram’s sole is made from our TC1 performance rubber compound,it’s non-marking and provides excellent grip and ground feel in both wet and dry conditions.