SIRI Intraday Thread: Tuesday April 21

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Originally Posted by SiriusHope

not to sound sarcastic..you are giving advice on buy/sells and did not even know what R/S meant????

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Hahaha - I was waiting to get nailed on that one... :)

Different boards use slightly different acronyms - ie. you guys call the 200 day moving average a 200 DMA. I use 200 SMA and EMA - cause they are both different. I know what a reverse stock split is (just didn't know you guys called it an R/S), not really much on trading it per se - like I do for an excessive regular split.

And I apologize for not easing into this board and coming across maybe as some know it all... but its just I read a lot of posts from what appears to be new traders trying to be longs doing a lot of intraday trading (which is swing trading) and they are getting whipsawed (and not taking the general market into consideration). I'm a pattern/swing/TA trader... so I was just trying to give my two cents on how some of them trade and what numbers they would be looking at. To me this stock is behaving how it should, and I did actually trade it and squeezed out a 50% gain in a couple of days... by using those numbers and sticking to the plan. You had other posters mention the 200 day, and looks like some people wanted out, but didn't pull the trigger. I've gotten hurt plenty of times back when I began... like with AAPL- I was long at $15 and rode it to $75 when I first started... then when the water was clear again at $100 or so, I got in again thinking I was long, but then I thought I'd start trying to catch the highs and the lows, and lost a lot of my profits -

I'm not giving advice on when and where to buy - I just pointed out where the support and resistance levels were that TA guys use - which of course aren't right all the time (I'd be a millionaire then - well, if I could control the impulse buying and selling - which is a struggle for everyone - but gets better over time if you recognize it). And, just pointing out to trade your plans. When I deviate from the plan I lose a lot. When I do work the plan, I get gains. Also to learn what the other traders are doing (which is how I got big into TA) to better my trades. Even today the stock has traded between 0.40 and 0.44 - and I posted yesterday -

"I got 0.44, 0.43 and 0.39, then the big daddy of 0.35 for tomorrow (at least for lows) - but those are muddy - so not playing - today's uppers were pretty clear. My tea leaf hocus pocus IMO TA.

-disclaimer - I'm wrong all the time."

Again - apologies, and I'll sit back. And like I said, I was in and out of that AAPL run from $99 to $202 so many times it killed what would have been a great 100% gain. And I've hurt myself plenty of times after that - its hard work to stay in the game and build profits.

So I apologize for coming across as a jerk.

What's a TA Trader? Trend Analysis?

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Originally Posted by Dr. Dave

So I apologize for coming across as a jerk.

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not a jerk...no apology necessary.

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Originally Posted by underway

How widely held is this stock? I don't know the answer...haven't researched that component. but, if it is widely held and not centered with a few institutional investors and insiders, then the market makes the rules, with all players acting in their best economic interest. Chances of conspiracies are far less likely with widely held stocks. No doubt there's stock manipulation...always is. Crooks exist in every market, no less Wall Street.

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Widely held,as of now 3.85 billion shares outstanding with only 50% held by mutual funds(19%) and institutional(31%) so there are millions of retail investors out there,very manipulative atmosphere indeed...

Revisiting the chart....

Notice the middle Bollinger Band (the green dotted line) and how it has been offering support for quite awhile now. I would continue to look for support there. If SIRI can close around .50 or above, it would still be in it's recent uptrend. If SIRI trades sideways for a couple weeks or so, it's going to hit that 200 DMA (the red line). The 200 DMA is the main wall to cross. Once SIRI crosses that, there is a lot of room to run - from a technical perspective anyway.....

http://i195.photobucket.com/albums/z...g?t=1240330342

Close - but yes, trend analysis is part of it - TA is technical analysis, so trying to find trends, using chart indicators, price patterns, identifying trading ranges, using floor trading pivots, the general market as a guide... its a lot of work, and helps to have a coach, and you will be wrong, but you just try to rack up more profits than losses. I usually don't get as good as trades as I got with my SIRI trade, but I was working with Ramsey, who knows the ins and outs of the fundamentals of this stock, but since I had teamed up with him - I diligently picked the charts apart and made a mental note that there wouldn't be any plan changes. Knowing the fundamentals helps a lot, I can trade AAPL really well, cause that's where I started, but Steve Jobs health issues makes me weary of trading it any more, he can have a cough and by the time rumor comes out and multiplies, you could get a 20% loss. So I'm maybe going to try to build an eventual long position here.. but when you get a decent profit, its good to book it, and use that as your seed money.

Funny, I know where the targets are - but it takes something like working with a friend for me to follow them sometimes too... practice practice practice :)

And not to mention - the targets don't always hit - I didn't and still don't expect that 0.35 to hit (today) - which is why I called it the big daddy. At the end of the day, everything will be revised after a new candle is printed.

See Demian uses TA - but he uses different indicators than me - so even us TA guys won't agree all the time! :)

Anyway off to work - and again, my apologies.

Dr Dave

is there a website where this system is explained in layman's terms? i am sure i can understand the system as long as it is explained using lingo i can follow.

Demian, nice posting that chart. Thank you very much. Yesterdays candle is typical after a long run up, but it usually doesnt close under the days open(manipulation?). If it gapped yesterday up, that candle would be considered a true "shooting star" and would signal todays action exactly as it unfolded. Typical reveral candle. Consolidate here now, range is to be determined still. Im guessing and trading as .40 as the new bottom.
PS I called .50 cents the new bottom yesterday, before the news hit. Would it have held .50cents? We will never know now... Thanks Mel for not letting us find that out.

Dr. Dave...welcome, your advice seems knowledgable...and we all do our due diligence here, so fire away...