SIRI Intraday Updates for the Week of 10/13/08

[Demian]

Good morning...

Charles, will you make this sticky?

SIRI gaped up in the pre-market and hit .53 near the open....trading around .50 now. I was tempted to sell into this spike, but I think this might be the real thing.....or another head fake?

[Demian]

I knew there was going to be some selling on that spike. The chartists will want this mornings gap to fill. From a daily candlestick point of view it has now filled as it dipped under .48. From the hard core gap fill group point of view, it would have to retrace to .43. It doesn't "have" to do anything, but it has been too tempting for traders not to sell these spikes. Sometimes things keep working until they don't work anymore. I am in the camp that thinks the market has bottomed, but I thought that a few days ago too.......so don't listen to me, please. I wish I wouldn't have listened to myself and rode this dog down, but I do think it will rebound - way, way oversold. I bought more at .38 on friday...

[Demian]

Siri now trading at .50.....looking good - back in an uptrend towards .53. If it can bust through .53 with some volume, it will be off to the races......I think?

[Mario]

I'm expecting a large drop at some point in the coming days or weeks. I would like if it did not, but I have a feeling it may. In any case, If the drop comes, I will average down and I expect to buy about 10 000 shares at $.25. If the drop doesn't come, then I won't average down at all.

That's just my two cents.

[imromo24]

Green! i like green! Guess I can hold onto my money today, was planning on getting more under .40 but Im happy with positive movement.

sure gets confusing though, really wanna get more, which is the same position several here have been in

1. see positive movement, get scared of missing pop and buy, then it goes down lower with no money to buy.

[Demian]

Imromo,

It's almost too risky to try and trade SIRI down here, as you could miss a huge gap up by trying to sell a spike and get back in. Those huge morning gap ups might be another story, but you have to be quick and nimble...

Mario,

I think that dip down to .36 was it.......don't think it's going to .25....more likely going to over $1.00. Way, way oversold here....