I was an officer at a small public company during the 1990s. We were on nasdaq and although much smaller than SIRI, the rules are the same. Public companies have to be very careful about what they release and do not release. They can't make public news releases which are premature and obviously designed to pump their own stock price. News has to be material to the company's financials, etc. Every release we did, we ran by our corporate counsel first to make sure we were within SEC and NASDAQ guidelines. So, when the iPhone app is complete and beta tested, etc, they'll do a press release. It's gonna take some time, but pretty soon we should get the positive news we're all hopeful to hear.
I think closing at .341. Tomorrow should be interesting
I don't think so. GM going BK will not stop their car production, and even if it did, their contract with GM sucks and their market share would shift over to Ford, etc. I still believe the fundamentals are good for SIRI biz model and it will fly soon. If you are long, no sweat. If you're looking for quick hits on a daily basis or very short term, it may continue to frustrate. just my 2 cents.
Another Fool post by our new friend Rick. Not primarily about Sirius but gives a nice little mention with positive information.
http://www.fool.com/investing/genera...owned-out.aspx
Well.. We didnt close under .34. Thats good. And thats all I got. Technicals are breaking to neutral to bad overall now. I think they are intent on testing .32 again. Sures starting to seem that way, unless someone in premarket can control what they are doing. They are setting up on a low volume day a very low start point. Pretty much unchallenged, and getting away with it. Then , since its still in the "range" its been in, everyone who was going to buy here, already apparently has. Good news is there isnt many weak hands left. Some selling on the break of .34 but it was supported by buying to end the day. If the pattern continues, they will probably try to open tomorrow at .33, and see if they can challenge .32. Since their balls and control right now are going unchallenged, they are waiting for buying support to tell them not to bother. My opinion that the big money is done buying is supported by this. If they werent , I feel that buying would make the price more jerkey, and the volume is simply too low for many big buyers. I feel this is simply a time game now.
Last edited by relmor2003; 04-07-2009 at 04:19 PM.
On 3/19 I said this issue was going to be on a range for a while
low: 0.30 approx.
high 0.40 approx.
It will not be broken until something breaks it up. There's no interesting news on the horizon for SIRI ...boooring...
Trade DNDN, FAS, XLF or something more exciting.
I would love a little more input from you TA guys on this triangle. What I'm wondering is when your starting your time frame for the beginning of it? Looks to me like March 12th, but even possibly the 6th. It just seems to me that we are running out of time for this particular formation to pan out. Not to mention being very close to breaking resistants.
Brandon, your post earlier on the pennant, sounds very exciting, I'm just wondering if the formation got screwed with this little market correction/bad timing. Would love your thoughts on this.