Fried day, June 28, 2013

So has SIRI broken out of it's downtrend? It is possible…..look at the chart……

I used a channeling technique…..you start by connecting the high and the low in the current downtrend….(3.63 and 3.04 in SIRI's case). Then for the second channel line, you place it at the widest point in the downtrend between the high and the low from the first channel line


Attachment 1023


Now, this doesn't mean that SIRI won't pullback just because it has broken out of this channel. Just like how stocks in an uptrend retrace so do stock in a downtrend. Stocks that are in a downtrend typically retrace the same %'s. As you can see in SIRI's case, SIRI has retraced 61.8% of it's current downtrend with yesterday's 3.40 close.

If SIRI has indeed stopped it's downtrend as the breakout from the channel has indicated, look for $3.04 to hold as the current bottom.

Morning Bass!

Thanks for the charts. SIRI going ape shit early. MMs trying to create some bag holders or is something happening. Low of 3.35 high of 3.47.....interesting action.

interesting indeed. a few stocks i am watching are all having similar action that i would attribute to a shake-out

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Originally Posted by denco1

Morning Bass!

Thanks for the charts. SIRI going ape shit early. MMs trying to create some bag holders or is something happening. Low of 3.35 high of 3.47.....interesting action.

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Hey Denco, just noticed you are on the list of top active posters!!! Way to go!!

I also show a break of the downtrend on my chart......:money:

Attachment 1024

But, I show a lower high if we don't break 3.48:popcorn:

Here's the current HighLow....

Attachment 1025

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Originally Posted by Limit5Bass

Hey Denco, just noticed you are on the list of top active posters!!! Way to go!!

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Thanks Bass!!

You seem to be picking up steam again as well:thumbup:

The SIRI weekly chart has some BIGBALLS especially with a close in the 3.36+ area....

Attachment 1026

I think that weekly chart says it all……I would like to see a strong end of day/week close today to keep the momentum going….a bullish engulfing candle appears to be setting up on the weekly chart and a strong close at the high of the day so far or higher would complete the bullish engulfing candle…….go siri go!

Quote:

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Originally Posted by denco1

The SIRI weekly chart has some BIGBALLS especially with a close in the 3.36+ area....

Attachment 1026

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another link to the "other" forum - put on your UGG slippers and robe for this one….

http://siriusbuzz.com/forum/showthre...0984#post80984

@ switchflare - continuing our thoughtful conversation from yesterday, here is a link to what i'm talking about with the potential power of FB's advertising…

http://allthingsd.com/20130628/adver...D_yahoo_ticker

Anyone else making any moves on the gold crash this week? I took a gamble and was able to get a nice chunk of NUGT at 4.70 yesterday for a sweet 1 day 25% gain. It looked way over sold to not give it a go.

Quote:

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Originally Posted by Limit5Bass

@ switchflare - continuing our thoughtful conversation from yesterday, here is a link to what i'm talking about with the potential power of FB's advertising…

http://allthingsd.com/20130628/adver...D_yahoo_ticker

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The author owns a social media advertising company so he'll no doubt be passionate about the topic because that's how he pumps his wares. I agree though that the advertising industry could use a reboot and could certainly benefit from a more targeted approach.

That said, the technology to support this movement has been around for 4-5 years. Economic conditions couldn't have been worse though to jumpstart it and get people to be more willing to part with what remains in their bank accounts. I won't be convinced that the pumps are fully primed until the government turns off all stimulus and we still see a good year of growth.