SIRI Intraday Updates for the Week of 3/16/09

[TWAsiri]

I see your making friends in new places John. Never boring....
Media is back in full force. To me, that is irrelevant now. Its going up, and this is to simply keep new longs out, daytraders away, and make old longs book profits with fear media tactics. Trust the action, not the news.
Looking at the charts.
5 day sto. show an upturn coming, and hasnt been wrong the last 4 times(important). 5 day MACD in on a downtrend, but leveling, and has leveled before in the last 5 days and has returned up. Still hugging and going over the 50 DMA nicely. 5 day support has held easily, if a test is coming it would hit the 50 DMA at 22-23 cents(almost hit it intradday today). This could be a intraday today test, as its close enough.
1 and 3 month charts are less promising. Both reveal a retrace coming soon. Im guessing no lower than the 50 DMA.
Heres my take.
If .25 fails to break tomorrow, we will see .23 again. Thats the support now. If it breaks .23 it might just be a head fake, and not gain momentum to .20.
If it does break .25 cents there is no resistance to .32 cents, it FREE AND CLEAR. 200 DMA is way above that, and that is the last consolidated support the stock had. Goes all the way back to Nov.3rd, where a new downtrend continued.
Clearing .32 opens up a trading range of massive consolidation between .36 cents.
The next resistance is .50 cents, and would be sustantial.
Then .60 cent range offers some, and the .80 cent range offers some.
Then massive resistance at 1.00 again.
Once .25-.27 clear(might be a range of resistance here, as I was looking down on Level2, and its clear to .32, I dont think .30 cents will offer much. It will slice through .32 to .36 quickly. This can be useful knowing this when deciding at what points to sell, and when a retrace may occur. Once again, I wouldnt put much into the bollinger bands yet. Bollinger band works better on shorter term charts, for intra day trades. I dont like it for penny stocks long term. I am charting the trendlines now. I should be done tomorrow, if I can figure how to post it. This will show areas of resistance and support much clearer.

Relmor,

Still learning. I'm starting to grasp DMA. I assume resistance is a lot of sells at a specific price point. I'll read up on MACD today later to try and understand it. Help me out with consolidation. Does that mean fewer overall investors?

Nevermind. I think this explains it.

Consolidation - Stock Consolidation

Consolidation is simply another description of a trading range and the complete absence of a trend. These periods can make for frustrating trading if you are looking for a large price move, as price remains range-bound within a consolidation area. Consolidations often follow uptrends or downtrends, and are a representation of a stable market which lacks emotion ahead of the next significant move in prices. Consolidations are healthy in stocks which have just made large price moves, and help to alleviate the overbought or oversold readings of indicators.

Consolidations are found in chart patterns like a channeling stock or rectangle pattern

[rgentry]

On a positive note,trading @.25 in pre market. :

[JohnnyIrishXM]

Good morning everyone,hope all slept well last night,I did!!! LOL
Saw we had a battle of the Services last night,even John Wayne(my IDOL) was invoked..The only thing that is 100% right on this Site is the clicker that keeps track of how many post are replied to each thread!!!

[JohnnyIrishXM]

Relmor.

Excellent analysis in your post Thank you..

P.S. Happy St. Patricks Day all

[trippingthespeculatingpos]

.255 here we go guys get ready for .30 possible .31 if we can pull another 25% move but im thinking mm's will cap it at .30

[Brandon Matthews]

.255 here we go guys get ready for .30 possible .31 if we can pull another 25% move but im thinking mm's will cap it at .30

Just looking at premarket, the most orders are sitting at .2950. That would be a nice day for sure.

[JohnnyIrishXM]

Looks like we have good support to .27 at opening,then resistence to .28..

[airman]

Also just so we dont get confused I am not making any apologies for saying what I said. I was correct then and I am still correct now.

Now we wouldn't want to be confused. We knew there would be no apology from you!

Using logic there is no "right" and "wrong" here.
You have no idea what he is trying to achieve. If the kid wants to do it is all that matters.
If the kid makes money it also doesn't matter what you pontificate. He will be satisfied.
He may have helped the broker make a living but hey if he ends up cash positive he is definitely better off that if he did nothing or as you say use it on a lottery ticket or statistically better than playing roulette.

Personally I think he will be cash positive when he gets out of this trade. To me that is always a good trade.

With that it was good general advice to explain that the commission raises your cost basis. If the tone wasn't there it would have been a good post as well.

[asm610]

Geez! I travel for a day and it's suddenly raining cats and dogs. Our time is just starting gang. Hope everyone is ready for the better days and doesn't get too itchy a trigger finger. Best of luck to all, and pay attention to EVERYTHING..both good and bad, before you make a foolish decision. By the way...I see the fear mongers are back in FULL force in the MSM...what a bunch of scum. Also, want to thank whoever originally posted that Cramer youtube video. It helped me get my head back in the game in a meaningful way.

[airman]

With all this flap , I awoke this morning thinking of lottery tickets.

How many people feel that at this point that buying into siri is a lottery? John and DMO implied that and of course cramer agrees. How many of you out there think so as well.
Maybe that is why the thing trades the way it does. Is everyone afraid that their ticket is going sour everytime the price stalls or retreats?

I for one think there is a 90+% chance that this thing trades at at min .49 by the end of the year. That is my most conservative guess.