what triggered the share price increase today? just saw 3.43
Anything special that I missed?
Damn a close of 3.44! up 8cents.
Last edited by brian65PLS; 08-08-2014 at 04:02 PM.
No trigger. Doesn't always have to be one. But REST ASSURED that people will tie the move to news... There's some guy out there with it in his head that SIRI went up today because we fired some shots at ISIS or because Russia ceased ops for now outside Ukraine.
FYI 100 day MA turned up today on schedule. Now for the 200 to level out and (hopefully) be crossed up and over by the 20 and 50.... Will need to break the 200 for that cross but it will level out considerably regardless so long as price stays near these levels.
So look at your chart denco. Notice slope of rebound mirrors slope of trend from lowest point. IMO that was its own little channel running parallel to the main trend here and should be ignored (mostly).
We broke back into previous channel today which means your little line there is now back to being support. But it also means resistance is one of two things... $3.50 area where some tops have been OR....
dun dun dunnn... where the previous resistance line was. Go back to when SIRI bounced $3.09 in late march, pick it from that bottom and then draw through tops all the way to 7/02's $3.49 high and extend right.
$3.65 give or take a few cents.
I was a bit nervous about today for the short term trade but it has made the weekend a hell of a lot easier We'll see next week if my theory is right and we cross up over the 200 and break the $3.50 mark... I could see it grinding around for another week too and like I've said to some people... pop the Monday after those options expire just to F with me
Yes in my opinion recent move was because of dumb retail who can't understand a quarterly and just go with the dumb authors who regurgitate the WSJ's similarly dumb crap. Pinged the 100 and UBS appears to have taken advantage of it and ran a little channel for a week with resistance as the previous support line. I wonder how many were selling / shorting that line on the trading side?
I'll short vs. these calls if we do get a 3.50 break ... so if anyone at UBS is listening there's about 250,000 shares you can pick up if ya want 'em! :P
Still think we grind up towards $4 into Q3. As time wears on I get less and less confident with $5 area ($4.85 actual but targets are easier when you use simple numbers). Obviously a good Q3 is needed for it.
Like to see the remaining shares in the ASR show up in the short so I can write off that portion of the converts too. My guess is that this was done with Morgan Stanley's portion... not UBS's... I'd expect a similar ASR with UBS near Dec 1st but that wouldn't show up until the Q4 release.
My guess is that the convert closing out will be a complete non event (in terms of negatives) rather than the sudden share dump some are expecting.
Significant positives to them being gone, though, that is for sure.