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  1. Demian is offline
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    Joined: Oct 2008 Posts: 2,320
    10-13-2008, 09:39 AM #1

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

    Good morning...

    Charles, will you make this sticky?

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

  2. Demian is offline
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    Joined: Oct 2008 Posts: 2,320
    10-13-2008, 10:21 AM #2
    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 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...
    Last edited by Demian; 10-13-2008 at 10:29 AM.

  3. Demian is offline
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    Joined: Oct 2008 Posts: 2,320
    10-13-2008, 10:33 AM #3
    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?

  4. Mario is offline
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    Joined: Aug 2007 Posts: 39
    10-13-2008, 11:05 AM #4
    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.

  5. imromo24 is offline
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    Joined: Aug 2008 Location: Steeler Town, MI Posts: 2,524
    10-13-2008, 11:21 AM #5
    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.

  6. Demian is offline
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    Joined: Oct 2008 Posts: 2,320
    10-13-2008, 11:37 AM #6

    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...


    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....

  7. Seamless82 is offline
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    Joined: Jun 2008 Location: God's Country --- Up North Posts: 57
    10-13-2008, 11:48 AM #7
    I don't try to trade Sirius. I try to get as much as I can. I was hoping it would test lower levels so I could purchase more on the cheap. I mean after all, it was the high equity prices that screwed me, not the low ones. Think about it.

    So any good theories out there about merging the channels, as posted on orbitcast? Wouldn't that be awesome if Sirius XM Radio managed to fit ALL channels on each system. I don't see why they would even need an inter operable radio at this point! XM, on the other hand, needs to release an Al La Carte radio, I'm not aware that they have one at this point.

    I'm sure there will also be huge programming cost savings in merging channels, and it will likely provide more resources to make the existing channels even better.

  8. Demian is offline
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    Joined: Oct 2008 Posts: 2,320
    10-13-2008, 11:49 AM #8
    WRSP is now up 28% today, trading in tandem with SIRI - both at .50...

    The price swings in WRSP have been crazy - what a roller coaster ride! WRSP ramped up to over 2.50 just a few days ago and hit like .32 yesterday...

    WRSP also has a much lower share float that SIRI does, but I would love to see a spike up like that in SIRI with some debt financing news...

    WRSP is way, way too speculative and risky for think SIRI is speculative?
    Last edited by Demian; 10-13-2008 at 11:52 AM.

  9. Demian is offline
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    Joined: Oct 2008 Posts: 2,320
    10-13-2008, 11:57 AM #9
    This flatlining at .50 is getting old. Stability is nice, but not after it already fell out of bed - it needs to wake up and go out for a run. All it's NDAQ friends are - with the index up over 100 points now...

    Only 20 mill shares traded so far - where is the volume?

  10. thejared is offline
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    Joined: Oct 2008 Posts: 4
    10-13-2008, 12:21 PM #10
    i think this little run is just that...a "little run".

    we have all seen this before, and you know whats coming.

    there are two things upcoming that im sure will drive this stock down probably to ~.30, because when this stock gets hit with any kind of bad news it tanks hard...hell ive seen the damn thing tank on good news.

    1. the delisting warning, just the warning which means nothing will of course negatively effect this stock as does every other piece of news it seems.

    2. the 3Q earnings call which we all know is gonna be poor, will of course drive the price lower still.

    but after those two things, im planning on jumping in again. lost about 10k in this ship already, but i really believe in the product and think the merged channels and "best of" will help generate revenue.

    not sure when the delisting warning will come...last day at a $1 was 9-19 so 30 trading days later is...10/31 a friday. anyone know when the 3Q earnings come in?
    Last edited by thejared; 10-13-2008 at 01:04 PM.

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