Bullet Point – Interesting Day
The usual technical update will be published over the weekend. I just got a call and have a 5 hour drive in front of me, so I can only stop long enough to get some quick thoughts up. The stock bounced off of $2.70 support band tested waters above $2.75. That is bullish. The volume was in decent territory for consolidation. At the moment I still see $2.80 as a near term top and feel that this equity will test the 20 day moving average in the $2.60’s briefly before moving back up to break $2.80 with strength. While I still see the lower test, we can not ignore that the equity showed strength at the close and very willingly tested above and closed above $2.75. If we do not see a test of the 20 day by Wednesday of next week, it could well mean that support at $2.70 will be stronger. Stay tuned
Thanks for keeping us updated. Please try not to read/write while driving. Be safe and enjoy!
when Malone gets his hands on SIRI XM, this cookie could go to 10 dollars a share.
Spencer where you not able to write the premium article this weekend? Hoped to get more insight before opening market Monday. I know you were very busy Friday and this weekend though.
Just pulled back into NYC at 9:45. Gotta park my car, get a cab to the apartment, and will get something up before hitting the sack.