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Sirius XM Holdings Inc. Message Board

  • floridadave2001 floridadave2001 Jan 11, 2005 8:25 PM Flag

    Siri was setup for AM selloff!!!


    The MM's were trying to hold the pps above $6 at the close, why is anyones guess. I'm thinking they wanted to catch all the $6 and $5.5 stops in the panic just after the market opens tomorrow. If premarket shows the pps below $6 and it opens lower the $6 stops go as soon as the market opens and the selling from there should take it to $5.5 quickly when the panic selling starts. If you have a stop in between $5.5 and $6 you're adding fuel to the fire!

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    • Dave, I think you've got it ass-backwards. They tried vigorously to pull it UNDER $6 --THREE TIMES (Dec. 8th, yesterday and today) and couldn't.

      I COULD be wrong but I think the big boys are NOW going to put the screws to the shorts and squeeze some cash out of them. JUST LIKE THEY DID LEADING UP TO THE FIRST PART OF DECEMBER. The shorts got hammered during that period. Fun to watch!

      "The MM's were trying to hold the pps above $6 at the close, why is anyones guess."

    • Dave anything below $6 by close of business sets up an inverse shorting scenario, in that margin requirements for the strapped not only proceed from the loss of value, but because below $6, there is a higher margin requirement by most brokers.

      An under six scenario--six will get you to five in a heartbeat

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