Sirius intraday thread wednesday 07-08-09

[Siriusowner]

What gap is that? The gap at .36 that was left on that Friday when the Russell was rebalanced has been filled already, on Wed. July 1st. SIRI dropped into the .34 range just long enough to fill the gap, and there hasn't been another gap since then as far as I know.

From 6/19 to 7/06 there is a 12 cent gap. The trendline was tested @ 0.36 and 0.42 but the gap was never filled. It is being filled now that the trendline and the 30 day moving avg. have been broken at 0.46 (sell signal).

If this was other stock or other times I'd be jumping in now that it has retraced 50% but knowing this issue, I know it will continue down at least to the 61.8 level (Fib).

Too many bearish patterns: I just noticed the double top formation on the 30 day chart.

[just sirius]

Siriusowner

thanks for educating some of us. i believe that your information is extremely valuable. A different look than most give here.

[S50Fan]

From 6/19 to 7/06 there is a 12 cent gap. The trendline was tested @ 0.36 and 0.42 but the gap was never filled. It is being filled now that the trendline and the 30 day moving avg. have been broken at 0.46 (sell signal).

If this was other stock or other times I'd be jumping in now that it has retraced 50% but knowing this issue, I know it will continue down at least to the 61.8 level (Fib).

Too many bearish patterns: I just noticed the double top formation on the 30 day chart.

Ah, You're talking about trendline gaps I guess. I don't pay any attention to any gaps other than the price per share gap though, and that's been filled already. That's just the way I've always followed SIRI since it was under a dollar 5 years ago. I'll keep watching it though and see when it bottoms. At what price does your trendline gap say it will be filled, .30 or so?

[sxminvestor]

Wait until it closes the gap. The gap closes at .35. It WILL retest the .35 area and then will either bounce or take it out.

I called the bearish pattern 2 days ago @ 0.46 and said it was going to 0.35

I'd wait until it reaches .37 and re-evaluate.

I had gotten back out at .43, kicking myself for not getting all out at .46 - .47.
I held off buying back in today and it was tough, especially will all those dead cat bounces from under .40 to touching .41. I will keep my bids at .34 - .36 range with still some cash to spare if a major takedown.

I would die for .33 - .34 again, but the way this stock is manipulated, I would not be surprised at all.

[Hopeful]

251-500 "GreenHorn"

[Big Ben]

Quick comment......I missed a limit order on 10k today .3905. The last six times this has happened to me the stock opened weaker the next day and I got my shares for a pennyish less, a few times two pennies. I will be watching for a dip tomorrow. My strategy for the next few weeks will to pick off 20k as low as possible. I want to enter report with 3/5 position and plenty of dry power available after the shitty numbers. When I say numbers, I mean any metric the MSM can spin against us....it will happen as sure as the sun will come up tomorrow. I moved out of my last position around .44ish and my last 10k were purchased at .32....so I am sitting on a nice short term gain. Not kissing my own ars, just trying to pass on some actionable advise. Good luck all.

Sell into strength.

[Big Ben]

Anyone been to Maui? Any tips on the hot spots would be greatly appreciated.

[sxminvestor]

Quick comment......I missed a limit order on 10k today .3905. The last six times this has happened to me the stock opened weaker the next day and I got my shares for a pennyish less, a few times two pennies. I will be watching for a dip tomorrow. My strategy for the next few weeks will to pick off 20k as low as possible. I want to enter report with 3/5 position and plenty of dry power available after the shitty numbers. When I say numbers, I mean any metric the MSM can spin against us....it will happen as sure as the sun will come up tomorrow. I moved out of my last position around .44ish and my last 10k were purchased at .32....so I am sitting on a nice short term gain. Not kissing my own ars, just trying to pass on some actionable advise. Good luck all.

Sell into strength.

Ben,
Why do you think the range is getting tighter and tighter ? we hit .60's, then the next high was .53, now the latest .48 and each time the lower resistence was about .32. I think we might be heading there again. Is it because everyone is more and more trigger happy on the selling or are we coiling for a much bigger move higher way past .60 ?

[Big Ben]

Great ? Could be MMs knows there is a small fortune to be made with stock. A six month chart tells the story. I think they keep it tight so people lose interest, low volume, beat it down then boom the volume creates a move and the short interest get scared. I agree on the bottom .32-.342. I entered around .342 last time it was there. Haynes bottom. I am looking forward to the movement in short interest this month...if we continue to move down... the skys the limit. If we retrench to .32 or lower, I am buying with both hands..all in.

I am glad they extended Mel's contract.
I think we will lose subs and our cost cutting numbers will be Mel's rabbit out of the hat.
Mel has come up with all kinds of new streams of cash..I like it.
Stiletto II in my truck kicks ass! First few days of driving and I have recorded hours of fresh music from about 4 different genres.
What would all of those songs cost from the Itunes store? More than 15 bucks, I am sure.

[Big Ben]

The trigger happiness is definitely all about the short term gain. Penny's are monstrous when you can get 6 of them in a short time frame. With the swings in this stock price you can take chunks off the table quick. I have been implementing Coss1000's strategy since pre-bankruptcy and it is paying dividends.