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Thread: SIRI weekly thread 10/14/13 to 10/20/13

  1. #1
    kelly0995 is offline

    SIRI weekly thread 10/14/13 to 10/20/13

    Hi all , welcome to a new week ,my first post here and the first time I've opened a thread......if I screw it up , fix it please......a bit on the computer challenged side here !
    looks like we took out the big gap today...................10 days till earnings call !.........4+ by then ?......good luck all !
    K.

  2. #2
    kelly0995 is offline
    oops , ...3rd post , .......memory challenged also lol....

  3. #3
    just sirius is offline
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    Joined: Dec 2008 Location: San Antonio Posts: 1,181
    Kelly...Looks like we opened at 3.84...did that fill the gap? See 3.83 in premarket...not sure that fills the gap!!

    Help...thoughts anyone!!

    JS
    PURCHASED THE CABIN IN THE WOODS...THANKS MEL, MALONE, AND THE BLUE DOG

  4. #4
    denco1 is offline
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    Joined: Nov 2012 Location: Shortie's A$$ Posts: 1,538
    There was no true gap to begin with as trading on the 3.83 close day was as high as 3.89 intraday on that day, 10/9/2013. Though, if you think it was a gap, then it filled as I show a low during the regular session of 3.83.

    SiriCS.jpg


    EDIT: His JS and Kelly! and all!

    EDIT2: It was a true gap when it opened the following day in the high 3.90s. Once trading touched 3.89 the gap was closed.......imo
    Last edited by denco1; 10-14-2013 at 06:25 PM.

  5. #5
    Redcloud is offline
    Sounds like we're set to kick some AZZ then!!! I agree!!! T-6!!!
    Suck Eggs Shorty!!!

  6. #6
    kelly0995 is offline
    on the 9th it closed at 3.83.....on the 10th it had an intra day low of 3.89 leaving a 6 cent gap.

  7. #7
    denco1 is offline
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    Joined: Nov 2012 Location: Shortie's A$$ Posts: 1,538
    On the 9th it had an intraday high of 3.89. Therefore, it did trade as high as 3.89, the low of the 10th, thus closing the "true gap".

    http://stockcharts.com/school/doku.p...ool:glossary_g

    Gaps form when opening price movements create a blank spot on the chart. This occurs when the high of the day is below the low of the previous day or when the low of the day is above the high of the previous day. Gaps are especially significant when accompanied by an increase in volume.

    Here is EDIT one that supports the closing price theory also found at stockcharts.com

    http://stockcharts.com/school/doku.p...nd_gap_analysi

    Normally this occurs between the close of the market on one day and the next day's open. Lot's of things can cause this, such as an earnings report coming out after the stock market has closed for the day. If the earnings were significantly higher than expected, many investors might place buy orders for the next day. This could result in the price opening higher than the previous day's close.
    I tend to lean towards the intraday gap theory with the blank space/spot on the chart.

    EDIT: There have been 2 or 3 gaps left behind over the last year with SIRI...so waiting for them to fill is not always the best strategy......


    http://stockcharts.com/school/doku.p...nd_gap_analysi

    Conclusion


    There is an old saying that the market abhors a vacuum and all gaps will be filled. While this may have some merit for common and exhaustion gaps, holding positions waiting for breakout or runaway gaps to be filled can be devastating to your portfolio. Likewise, waiting to get on-board a trend by waiting for prices to fill a gap can cause you to miss the big move. Gaps are a significant technical development in price action and chart analysis, and should not be ignored. Japanese candlestick analysis is filled with patterns that rely on gaps to fulfill their objectives.
    EDIT2:

    2.91-2.95..............3.49-3.51.........................and most recently 3.70-3.71 which could very well still fill quite easily. The other 2 may be a bit more work for SM to get us back down especially sub $3.......GLTA


    EDIT3:

    LONGDUCKDONG
    Last edited by denco1; 10-14-2013 at 07:46 PM.

  8. #8
    kelly0995 is offline
    thanks denco ! ....I always thought the previous day close vs next day counted........... didn't know previous session intraday mattered.

  9. #9
    just sirius is offline
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    Joined: Dec 2008 Location: San Antonio Posts: 1,181
    Thanks Professor Denco!!

    JS
    PURCHASED THE CABIN IN THE WOODS...THANKS MEL, MALONE, AND THE BLUE DOG

  10. #10
    Redcloud is offline
    I need someone to translate this, I'm on mobile.

    http://www.khrunichev.ru/main.php?lang=ru
    Suck Eggs Shorty!!!

  11. Ad Fairy Senior Member
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