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Thread: SIRI Intraday Updates for the Week of 1/12/09

  1. #1
    Newman is offline
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    SIRI Intraday Updates for the Week of 1/12/09

    The secrecy surrounding this company is getting quite frustrating. The secrecy behing the channel line-up changes, the secrecy regarding the Bubba deal, the secrecy regarding plans on refinaning...

    Mighty frustrating.

    That being said, last week was actually a pretty positive week. Increased dilution to pay off debt was captured positively, and even the Bubba news could not hurt the stock. What does this week hold?

    Discuss...

  2. #2
    Siriusowner is offline
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    Moving Averages

    I've been following the 15 days MA closely for the past few weeks and it has been acting first as a resistance and now as a support.

    If you run the 15 day MA in a line chart you will notice that it was not broken since July 2008 and price just broke it a few days ago. I bought shares at .13 when price broke it. Now it looks like it is acting as a support since the price came back and tested it but did not break it.

    I expect a second test this week. If price does not break it then we have found good support, as I thought at the beginning of the year.

    Now it is just a matter of finding where the resistance is, which I think is in the 20 day MA since the price bounced from it a few days ago but it needs to be tested again. It may be tested this week also.

    As usual I am also using an oscillator (RSI) to verify price direction and the oscillator was pointing up this morning, so we may have a test of the 20 MA today (around .145). If it bounces down we may have found good resistance.

    It looks to me that the stock has been looking for direction since mid- December (consolidating, found support in the .13-.15 range). It maybe Ok to continue accumulating if willing to take gambling type of risks.

  3. #3
    Demian is offline
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    Quote Originally Posted by Siriusowner View Post

    If you run the 15 day MA in a line chart you will notice that it was not broken since July 2008 and price just broke it a few days ago.
    Siriusownwer,

    You are correct in that SIRI has found support on the 15 DMA as of late, but I see SIRI breaking through the 15 DMA several times since July 2008 - they turned out to be head fakes..

    What timeframe are you using on your chart?

    What I think is even more significant is the breaking of SIRI's downward trendline the other day, which I commented on and posted a link to a chart that clearly showed it. You can find it in the intraday archives...

    I have always been a big fan of hourly charts and the SIRI hourly chart shows this recent reversal pretty clearly and it's pointing at .15 - .16 today...
    Last edited by Demian; 01-12-2009 at 10:19 AM.

  4. #4
    Siriusowner is offline
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    Quote Originally Posted by Demian View Post
    Siriusownwer,

    You are correct in that SIRI has found support on the 15 DMA as of late, but I see SIRI breaking through the 15 DMA many several times since July 2008 -they turned out to be head fakes..

    What timeframe are you using on your chart?
    I am using a daily line chart and I am looking at the last 6 months only, which I think are the most relevant as of today.

  5. #5
    Demian is offline
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    OK, I've got the 6 month daily chart in front of me and the 15 DMA line drawn up...

    You said that SIRI had not broken the 15 DMA since July of 2008, but that is not true....

    SIRI broke the 15 DMA on....

    August 15th - 20th

    Sept. 2nd

    Oct. 27th - 30th

    Nov. 4th

    Nov. 28th

    Dec. 1st

    Dec. 4th

    Dec 26th

    and then now recently since Jan 6th.....

    I think the breaking of the long term downward trendline the other day is more significant, since that hasn't happened all of these other times - which turned out to be head fakes...

  6. #6
    trippingthespeculatingpos is offline
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    just bought some more now im averaged down to 8531 @ 0.1686 be nice if it bounced today but no its gottta drop as soon as i buy more lol
    Last edited by trippingthespeculatingpos; 01-12-2009 at 11:48 AM.

  7. #7
    trippingthespeculatingpos is offline
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    the bidders are winning the battle right now

  8. #8
    Siriusowner is offline
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    Quote Originally Posted by Demian View Post
    OK, I've got the 6 month daily chart in front of me and the 15 DMA line drawn up...

    You said that SIRI had not broken the 15 DMA since July of 2008, but that is not true....

    SIRI broke the 15 DMA on....

    August 15th - 20th

    Sept. 2nd

    Oct. 27th - 30th

    Nov. 4th

    Nov. 28th

    Dec. 1st

    Dec. 4th

    Dec 26th

    and then now recently since Jan 6th.....

    I think the breaking of the long term downward trendline the other day is more significant, since that hasn't happened all of these other times - which turned out to be head fakes...
    Are you using simple or exponential MA's ? I am using SMA's, I do not see those dates you have as the price breaking the 15 day MA on my chart (which is home). I do not have the chart in front of me but I remember that it may have touched it and bounce off but not broke it.

    Trendlines can be broken even if the stock is trading sideways or consolidating. Breaking a trendline does not mean the stock will reverse. Trendlines tend to give you more fake signals because of the way the analyst draws them. I know when you draw a trendline it has to touch 4 or 5 peaks. SIRI has broke several downtrend lines thru the last 6 months just to keep heading South. I do not trust trend lines as much as MA's and oscillators.

    UPDATE: I just draw a new chart. It looks like it will test the 15 day SMA today. I was wrong, SIRI bounced off the 30 day SMA Friday not the 20 day SMA. This stock is trading in such a narrow channel that the difference between the 15 and 30 day SMA is only 1 cent.
    Last edited by Siriusowner; 01-12-2009 at 12:31 PM.

  9. #9
    SiriusXMInvestor is offline
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    Stop with the technical crap. The stock is being manipulated.

  10. #10
    Siriusowner is offline
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    Quote Originally Posted by SiriusXMInvestor View Post
    Stop with the technical crap. The stock is being manipulated.
    Prove it...

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