SIRI Run

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Permalink Reply by Dilbert on December 22, 2010 at 5:05pm

I think if Siri can break through and gold above the 52-week high it might run up and establish a new trading range. I have been holding onto SIRI for over a year now and am going to start buying more on significant drops.

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Top MemberPermalink Reply by Terry H on December 22, 2010 at 8:50pm

I was watching the consolidation around 1.39 also, now it finally broke out, but I'm not impressed with the volume. I'm not sure what to make of it except that most professional traders and investors are on vacation, so day traders have nothing else to do. (?)

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Permalink Reply by Jon Beaulieu on December 22, 2010 at 10:55pm

They just had a deal with BMW that helped boost stock...I may buy a 1.00 call tomorrow in early premarket hoping we still see a .3 or .4 gain 

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Top MemberPermalink Reply by Rob on December 23, 2010 at 7:20am

David

 

SIRI made a high of 1.61 on November 4, 2010 and then pulled back and is now testing 1.61 again. Anything can happen, however, I think the chart is setting up very nicely. There has been increased volume the last two days (more than the previous days). The MACD has much more room to run and momentum is up and theADX is showing a n increasing strength in trend with buyers in control.  If SIRI can close over 1.61 with better volume than yesterday that should be new support and then it could run to the 161.8 fib level at 1.84.  If thebreakout fails today look for support in the 1.47 area.

sirius-xm-radio chart

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Permalink Reply by David Merchant on December 27, 2010 at 11:51pm

Thanks for the input.  I held through this sell-off.  I'll either keep my posistion, which is still positive, or I'll add to it.  I'll hold on through January.

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