Decisions, decisions (SIRI)

[New-born baby]

SIRI's shorts

Webs,

I came very near to shorting SIRI at the open. It bounced up to 5.80, and I thought about shorting 1000 shares for a quick daytrade. It didn't have all that bad a day, though. It did drop down to about 5.63 or so, so I could have picked up about $155 after commisions. But I have to say it looked healthier today that I thought it would.

[CabrioM3]

Here's a reality check for SIRI bears. This chart whispers higher prices to me. It's just a matter of when. Sure, things can get ugly, like my previous chart, but let's not underestimate the potential that is possible. Sure it's possible it can go broke, but sure it's possible something magical and unexpected will happen. Wouldn't be the first time such a thing happens. Bubble? Sure, why not. That's a wonderful phenomenon of the market. Why not exploit it? Bubbles are great!

I cashed out 25000@6 this week, purchased for an average price of 3.11.
I am totally optimistic on this product, have it in my home and cars listen to it everyday. But as a stock I don't think it has bottomed and won't bottom till the market bottoms. And what if the market does not come back anytime soon?

Last summer it hit its low on or about August 17th, the same date the market bottomed!

I think a continued free fall is very possible. I understand that over 70% of its holders are individuals and not MM's, thus individuals are unstable like cattle and can stampede at any moment.

I can't say I am a blind Siriun follower nor can I say I am a bear! but instead I am trying to be realistic!



John

[New-born baby]

Siri News

Webs, et al,

Well the talk now is SIRI and XMSR are going to merge. Read it on the Drudge report.

[Runner]

What the SIRI is going on???

[Runner]

Is this thing trying too stair step up???

[CabrioM3]

I am waiting to see if we get the after earnings dip.

Anythoughts on buying Siri?

John

[Runner]

Wonder if it will hold??

[Websman]

The only thing that concerns me is the lack of volume on SIRI today.
Teach me a lesson Spike. Do you consider this an issue?

Webs...The naive young Vulcan.

[Runner]

Very good observation Webs, I think your right, my timeframe in this market is reduced and I’m mainly looking @ 5-60 min. intraday charts. I have noticed the past few days reversals have been working… I’m still playing the DT thing, but the low volume on SIRI is something I’d be a little concerned about. Lets see what tomorrow brings….

[CabrioM3]

Was watching that too.

I have noticed that each days volume has been less then the day before since its Recent bottom in the $5's. The only high day was yesterday when its pps was down, of course that was a CC day.

I Wonder if the Merger Rumor was started to obscure some basic questions relating to: Greater losses, more cash burn and further Dilution? ...hmmm

I saw no particular reason to throw money at Siri after this CC?

John

[Runner]

Well from a daily perspective on SIRI I’m Bearish the volume has decreased again today and it appears too be setting up in an evening star candlestick…. Best intraday play I’ve been able to see was 6.10-6.15. Very tricky set up on this stock..

[CabrioM3]

"Evening Star Candlestick" ---please explain!

Seems to me like we might see a downward drift. Siri likes to build to a yearly year end top!

CC over -with wider losses, Holiday excitement gone, Upside Volume disintigrating, Can't see MM's wanting a piece of Siri yet.


John

[New-born baby]

Evening Star's a bad sign

John,

Yes, it looks like the "sun is setting on SIRI" with that evening star formation! But everytime I write this thing off as a piece of junk, about 35 million buyers step up and move the price higher. So what do I know?

[Runner]

CabrioM3 maybe this link will help explain what a evening star is http://www.litwick.com/indicators/1252.html

[CabrioM3]

John,

Yes, it looks like the "sun is setting on SIRI" with that evening star formation! But everytime I write this thing off as a piece of junk, about 35 million buyers step up and move the price higher. So what do I know?

I know what you mean, you could imagine how I felt this week! Having sold out at 6 weeks ago, I had indigestion this week as it climbed to 6.5!

I have been trying to learn about adding candlesticks to my charting, in fact I am going to spend this cold gray weekend in the books!

I was just wondering how the evening star was identified, I cannot see it in the books exactly like he shows on the thread.



Thanks to all for sharing!
John