Decisions, decisions (SIRI)

[spikefader]

Yesterday I sold SIRI at 8.26 and used the money to buy into DHB at 20.65. My rational is as follows: SIRI is too risky. Its price increase is due mostly to the expectation of Howard Stern’s arrival in 2006. This gives SIRI a single point failure. What would happen to SIRI’s stock price if Stern (for whatever reason) announces sometime in 2005 that he isn’t going to SIRI in 2006? DHB on the other hand is a very profitable company and is well managed. I think there is money to be made buying DHB on the dips and selling on the peaks without the risk of the company going belly up. Comments?

I don't think you'll go wrong with DHB. Your timing was pretty good, since the channel turn up last week, and catching the entry near lod. I think you're out of SIRI too early - looks to me there's an impulse up left in it - a 5 wave move to form a larger 5th. But you took profit on it, and have your reasons/plan to exit, so congrats.

[spikefader]

Siri entry at S2 levels now for those that want to hop on. Not a bad spot

[Websman]

The ANALysts are too funny. Banc of America has set their target price for SIRI at $5.25. Yea right...

[Websman]

Yesterday I sold SIRI at 8.26 and used the money to buy into DHB at 20.65. My rational is as follows: SIRI is too risky. Its price increase is due mostly to the expectation of Howard Stern’s arrival in 2006. This gives SIRI a single point failure. What would happen to SIRI’s stock price if Stern (for whatever reason) announces sometime in 2005 that he isn’t going to SIRI in 2006? DHB on the other hand is a very profitable company and is well managed. I think there is money to be made buying DHB on the dips and selling on the peaks without the risk of the company going belly up. Comments?

Congratulations on your profit!

The only reason Howard Stern may not come to Sirius is if he dies, and I'm sure Sirius has a lot of life insurance on him in case that were to happen. He's staying true to his present contract, so it's not likely that he'll try to screw Sirius.

I agree that DHB is a good investment and may get back in, if it gets beat down a little more.

[Runner]

Looking @ SIRI it appears to have closed in a morning star candlestick, also it is sitting right at the 20 dma. We will see what happens, but I’m bullish on this chart pattern. Using the channels I see off the 7.09 bottom that 7.29 appears to be the channel low? From the 9.43 high I see SIRI is currently sitting at the mid line. I’d say a move up from current point would be bullish and any move down would give me a bearish signal. Comments on this?

[Runner]

Well it looks as if SIRI is set to gap down at the open. We’ll soon see what happens. I think the talking heads has set a little panic in the shareholders minds. Most investors holding are retail and they are easy scared into a panic state. I view gap downs as a sign of weakness and my bias on this stock is changing from bullish to bearish. The action the last few days appear to have shown some churning near the top with sentiment being uncertain. We will all soon see what occurs next.

Best trading,
Runner

[Gatorman]

Well it looks as if SIRI is set to gap down at the open. We’ll soon see what happens. I think the talking heads has set a little panic in the shareholders minds. Most investors holding are retail and they are easy scared into a panic state. I view gap downs as a sign of weakness and my bias on this stock is changing from bullish to bearish. The action the last few days appear to have shown some churning near the top with sentiment being uncertain. We will all soon see what occurs next.

Best trading,
Runner

You are sure right about the talking heads. On Squawk Box this morning, it was interesting to note the analyst who was so much in favor of shorting SIRI reluctantly admitted he also shorted AMZN last year despite all contrary indications and "lost his shorts." It seems emotions rage strongly in "experts" as much or more than it does with we mere mortals and they, more than us, hate to admit when they are wrong.

[spikefader]

Well it looks as if SIRI is set to gap down at the open. We’ll soon see what happens. I think the talking heads has set a little panic in the shareholders minds. Most investors holding are retail and they are easy scared into a panic state. I view gap downs as a sign of weakness and my bias on this stock is changing from bullish to bearish. The action the last few days appear to have shown some churning near the top with sentiment being uncertain. We will all soon see what occurs next.

Best trading,
Runner

Channels showning still no reason to panic. Just another buying opportunity today at 7.30 at S2. If we get a channel turn down, I'll be exiting.

[Websman]

Channels showning still no reason to panic. Just another buying opportunity today at 7.30 at S2. If we get a channel turn down, I'll be exiting.

I'll be exiting with you if it turns down, but so far, it's holding.

[Websman]

CNBC keeps bashing SIRI down. It makes you wonder what ther motive is and how far their bashing can influence the stock price.

[Runner]

Hey webs it makes me wonder if they now are on the short side and trying to rake in some big bucks? After all how many people watch these guys? Just a thought…… A few months back I could tell they did not like SIRI and were just waiting for the right time to bash it..

[Websman]

Hey webs it makes me wonder if they now are on the short side and trying to rake in some big bucks? After all how many people watch these guys? Just a thought…… A few months back I could tell they did not like SIRI and were just waiting for the right time to bash it..

According to Spike, the charts don't lie. People lie.
I believe the CNBC guys will do whatever it takes to bring SIRI down as far as they can. I now understand what Spike means. I know that a lot of the chart guys don't even watch the news. I'm starting to think that I need to quit watching CNBC.

I'm going by the chart on this one. Screw CNBC! LOL

Webs...

[Websman]

I thought it might be a good idea to remind you guys of Spikes original plan. I believe his sell price is $6.55. I will have to sell if SIRI drops below $6.95, in order to keep my original SIRI profits. I'm posting the link to Spikes original chart.

http://www.mrmarketishuge.com/forum/attachment.php?attachmentid=242

[billyjoe]

Does anyone on this thread believe SIRI will go below 7 soon?
billyjoe

[Websman]

Does anyone on this thread believe SIRI will go below 7 soon?
billyjoe

I believe it will. The question is when?