Time To Get Back In The Markets ; A Sirius (SIRI) Climb
Finally, someone out there is actually doing something for the market, not just for the unemployed. No, Sen. Ted Kaufman and Sen. Johnny Isakson will not go down in history as the ones who brought the bottom of the market for good…, but they should. These two men have co-sponsored legislation that would bring back the “uptick rule”. Why should some investors get to ride the market down, making millions on an almost guaranteed bet… They are, in fact, taking the money straight out of others mutual funds as they are scratching their heads wondering how they can lose so much money so fast.
If you know me, I am typically against most regulation. Short selling is, generally, not a bad thing…, but it has gotten too big too fast. I have seen a stock go from $1.00 to a few pennies in a very short period of time, with more short traders climbing on as the stock plummeted making a very fast, and safe, return of their investment.
“Abusive short-selling is tantamount to fraud and market manipulation and must be stopped — now,” Kaufman said on the senate floor. Thank you Sen Kaufman for looking out for the average guys 401k.
Sirius Satellite Radio ( NASDAQ:SIRI ) is a stock that was just covered in short traders making serious money. Since this bill was announced the stock is already up 100%, and looks like it will continue! Yes, a stock up 100% in a couple of days… that still looks good. There were many investors who bought Sirius ( NASDAQ:SIRI )at .05 cents just last month. This is the exact reason that the average investor loves penny stocks. If you take away the manipulation, pennies are going to multiply.
Citigroup ( NYSE:C )is also another stock to see a large climb since this legislation was announced. A stock which, arguably started the whole bounce back from the bottom based on complete spin, is now actually looking like a good investment.
It could be time to finally get back in the markets…www.TradeKing.com at least time for the average investor… while at the same time pushing the ones making money off of others misfortune out.
*At the time of writing Sirius ( NASDAQ: SIRI ) opened at .40. ( NYSE: C ) opened at 2.60. Both stocks already up today, does not look like either is going to slow down.
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Post your comments below!
Comment by Midas360 on 18 March 2009:
Nice write up. I see several factors brewing with Sirius XM. The momentum is definitely building and I am in for the ride.
Comment by John D on 18 March 2009:
SIRI is in a very positive look now. I think it is the best time to buy and hold SIRI little longer. If traders become investors for SIRI now, it will bring virtue for traders as well as to the market “patience is a virtue in the market”. As I analyzed, SIRI must rise up to $1.00 soon, but I don’t think it will go beyond $5.00 in this year: but who know? Good luck guys, keep your smart attention on the company’s functions and news.
Comment by John D on 18 March 2009:
SIRI is in a very positive look now. I think it is the best time to buy and hold SIRI little longer. If traders become investors for SIRI now, it will bring virtue for traders and market “patience is a virtue in the market”. As I analyzed, SIRI must rise up to $1.00 but I don’t think it will go beyond $5.00 in this year: but who know? Good luck guys, keep your smart attention on the company’s functions and news.
Comment by Sandra Mohr on 18 March 2009:
Hi Alexander,
I am a director finishing a movie about SiriusXM and the economy/market manipulation–due out Memorial Day. Can I interview you? Please call me at 213-446-6334 or email moviemakr@gmail.com
Thank you!
Comment by Justin on 18 March 2009:
While I am enjoying the up momentum I have a 20% Trailing Stop following it the entire way.
Comment by TJ on 20 March 2009:
Buying some shares of SIRI for the heck of it. They have the monopoly in that market. If only Rush Limbaugh would go over then we would really take off!
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