Bullet Point – Watch for Crest
As you know, it is my opinion that SIRI will test some lower averages before moving up substantially higher. Of course, that may no happen, but there are ways to see things coming. Watch for the volume and a possible crest. Essentially we are looking to see if this can walk up a leg toward $2.80, then roll over and settle down. What you will see is a move with some volume, and then the volume dry up. If volume continues, the crest is higher. If it falls off, then we see a crest.
looks like it is already drying up and turning back. What do you think Spencer?
There is still some decent volume at play. This is going to take some time to shake out. The danger is that when the active traders and shorts smell a top, they will pounce. It has not quite defined that top yet.
Spencer, SIRI has zoomed up yesterday and there has been no mention of a buyback. When the buyback news is released do you think we will clear 3.00 per share ?
Spencer I sent you a regular email if you have time to read it. Thanks