Calling The Near Term Top On SiriusXM
Well the volume that I watch so closely has essentially evaporated and with it the likelihood that SiriusXM can continue its nearly unabated run that we have been experiencing. I am calling the near term top on SiriusXM (NASDAQ:SIRI) at $2.60 per share. This does not mean that the equity can not reach higher, it simply means that battlegrounds are being established and the days of a new 52 week high with each trading session are over.
My usual technical update will be available sometime after today’s action concludes, but at the half-way point on this trading day it would take a small miracle for volume to be anywhere near where it was. One thing to bear in mind is that one day does not define a shift in trend. Most all technical indicators still show bullish signals and that should not be lost in the shuffle.
The good news is that the volume we had been seeing will help to define strong support and resistance points as the market collects itself and digests what has transpired with SiriusXM over the past few weeks. There you have it. A top is in and the company remains in a bullish trend.
Happy trading.
What other blogger/journalist posts giant pictures of themselves inside an article? Very strange.
Should have only been a thumbnail. If it is any bigger than that it is a mistake. I am on the road now, so can’t correct it til later
Lots of news out AH with the Liberty Filings for De Jure. Does this Affect your thoughts of a near term top?
It’s his website so he can do what he wants besides Spencer is by far one of the best guys that can write about SIRI
Don’t get me wrong, I think the site and spencers coverage is great, I just don’t know why there is a picture of spencer in the post. I’ve never seen anything like it. What purpose does it serve? Why isn’t it in every post? It’s not like he’s guest posting, and even if he was, they would never use a picture that big. Author bylines, if they contain an image, typically use tiny 32×32 icons.
I’ve just never seen anything like this. Maybe it’s me and the circle of websites I visit don’t do this. Didn’t mean to offend.
Maybe he is an egomaniac – lol
The picture looks unremarkably modest in size to me.
Ok, can you show me another publication where authors use similar “unremarkably modest” photos of themselves in the article?
Btw, I wasn’t looking to encite name calling or digs at spence. I appreciate his work.
Wow…..
A few things. I had a busy day, and the previous article I wrote had the setting on large so that charts can show. When I wrote this piece I neglected to check the settings and it was defaulting to large. I literally hit the publish button after writing it and left for appointments. It was a mistake.
Secondly, I would love to use Sirius xm images, but can not. It is a long and complex legal story not worth discussing here. Needless to say, the name of this site remains as is, but we do not use Sirius xm images
I sometimes use the thumbnail when the piece is an opinion piece by me.
may be he doesnt care what Chickfilet owners had to say and wants to do an AD for them.
Spencer,
With all the filings late friday and the change of Liberty going from de-facto to outright control—What does that change mean to shareholders? Is this what happenned to Direct TV(which was great for shareholders)
Yeah, I’m with Gary. REALLY interested in insight regarding the outlook for our shares in light of the Liberty developments. What’s likely? What’s possible?
ITS chik-fil-a
and SIRI will be at $2.75 this week
I do not think $2.6 will hold I think we pass it this week and head to $2.75 to $3 very exciting !
Who the heck cares how large or small his picture is. What’s wrong with you people that major on minor things like that. Just read what Spencer writes and take notes because he is one of the writers that that tries his best to write what the truth about this stock is daily and weekly. He is actually pretty accurate if you check his history. I appreciate his honest and straight forward articles because he lends an air of caution to everyone that seems to be so so hyped and pumped that it is going to blow the lid off and run up to 4 and 5 dollars. Many people have been saying that all year and it just has never happened. We all hope for that and it may happen one of these days but Spencer is taking it day in and out and keeping it all realistic. Thanks again Spencer and keep up the good work. Marshall