SIRI Monthly Thread October 2015 (with NFL Chat)

[midas360]

Whoah... sounds like you are young and healing fast? I remember tearing and separating my left shoulder. I just remember laying in a hot bath in tears. My brother found me and took me to the ER. It was so painful.

I didn't know you liked to fish? I like all kinds of fishing. I like when they are biting.

Don't hurt yourself in the gym. My middle brother just had shoulder surgery (Rotator cuff). His trainer put him back on to weights and he hurt it again. His wife was pissed.

Hurt like a bitch when I broke it but nothing like it hurt when they put it back in place with a plate and 8 screws. Ouch. 2 days out of the sling full movement back in a week. Already been salmon fishing up north and planning on hitting the weight room this weekend for the first time. That will be 5 weeks from surgery. Sports docs know their business!

[siriusly_invested]

Okay, I really didn't know where that "Raptor Speaks" comment came from.

As regards the strange looking bird............. surely you have heard of Sea Hawk? Well, that is synonymous with Osprey........ so I guess one could say that is in the Raptor family, sorta.

PS. How about our SIRI with high volume and hitting 3.94 here in the after hours trading? What can account for this "bucking the stream" behavior as the markets are in the shooter today?

[midas360]

My bad... I've been looking at pictures and reading about the Osprey now. I have never seen or heard of either. I am starting to carry my camera more when I am outdoors. Hoping to get some good shots but nothing as of late since the spider pics.

SIRI had a good close. I was thinking it was going to fall off and close down like it normally does. We have what 6 more days until earnings? I sure hope they beat expectations. This market is brutal to the meet and miss earnings. Fingers are crossed. Good luck to everyone!

Okay, I really didn't know where that "Raptor Speaks" comment came from.

As regards the strange looking bird............. surely you have heard of Sea Hawk? Well, that is synonymous with Osprey........ so I guess one could say that is in the Raptor family, sorta.

PS. How about our SIRI with high volume and hitting 3.94 here in the after hours trading? What can account for this "bucking the stream" behavior as the markets are in the shooter today?

[siriusly_invested]

This question to Denco (or anyone else familiar with P&F charting.

I must admit I have not had time to dig back into the P&F Bible by Thomas Dorsey, so with recent patterns developing with SIRI, primarily this Wedge pattern, I have to say I forgot exactly how to use the information we are seeing here. First of all, is the chart painting price points at the close, or does it depict the lowest or highest price during a trading day?

Now that we have 4 days of development in the wedge, it is time to anticipate a break out, so if my memory serves correctily, we need to see a 3-point reversal from the 3.89 in the "Os" column so that we begin a breakout in the positive direction. If no reversal, then we apparently risk breaking in the negative direction.

I know many out there who do not study P&F charting must be totally confused by this discussion, but don't feel bad.. I have read and studied the authority on this charting technique, and after a year away from it, I obviously have no friggin idea what it is telling me.

Denco, what do you make of today's P&F chart? Given the AH price of 3.93/3.94, I would say odds are good that we will see a breakout in the positive direction tomorrow. Do you agree?


SIRI_PF_1014.jpg

[denco1]

Could happen SLY but hard to say with the back and forth of the triangle. We should be in a column of Xs tomorrow and stay there unless 3.88 is breached to the downside. If we had painted a 3.95 today we would had stayed in a column of Xs instead of Os as we would have surpassed the previous days high. The high/Low hits the days range unless for example you had a big down opening to the previous days close but rallied back to close or take out intraday the previous days high. In that instance the downdraft would not register if the previous day was in a column of Xs because the previous days high would have been taken out at some point during the day.

The closing chart will register the close of the day and thus has a bit less action to it. We are primed for a double top breakout being in a column of Os but closing at the high of the day on the High/Low chart. So yes, it looks like we could be moving up if the market cooperates. The other indication would be the Closing chart which finished the day EDIT: actually on Monday - with a Double top breakout and extended the move at the close today.

SiriClose.jpg

[siriusly_invested]

Could happen SLY but hard to say with the back and forth of the triangle. We should be in a column of Xs tomorrow and stay there unless 3.88 is breached to the downside. If we had painted a 3.95 today we would had stayed in a column of Xs instead of Os as we would have surpassed the previous days high. The high/Low hits the days range unless for example you had a big down opening to the previous days close but rallied back to close or take out intraday the previous days high. In that instance the downdraft would not register if the previous day was in a column of Xs because the previous days high would have been taken out at some point during the day.

The closing chart will register the close of the day and thus has a bit less action to it. We are primed for a double top break being in a column of Os but closing at the high of the day on the High/Low chart. So yes, it looks like we could be moving up if the market cooperates. The other indication would be the Closing chart which finished the day EDIT: actually on Monday - with a Double top breakout and extended the move at the close today.

SiriClose.jpg

I forgot about the closing chart........thanks for that reminder. Love it when a chart shows a double top breakout.
Thanks for the refresher.

[waldo29]

User wrote:
'm gonna make an earnings trade on NFLX. They report Q3 after the close on Wed. 10/16. $.08/share on $1.75 billion in rev's seems to be the consensus.

Stock is currently trading around $114/share with a P/E of 256 - so it's priced for perfection and has a history of being pretty volatile on earnings hit/misses.

I'm gonna try and take advantage of that volatility and sell the Oct16 $100 PUT for $2.35-$2.50, meaning I'll get PUT (have to buy) the stock at $100 if they miss and the stock pulls back to below $100. If they do well, or at least don't do so poorly that the stock pulls back to under $100, then I get to keep the premium.

If I do get put the stock, my plan is to turn around and sell covered calls against the holdings in order to at least get back to even.

Stay nimble, it might be tight.

Nice recovery during the CC, you may not get put the stock.

[dm_4]

Denco....you guys just picked up RB Rob Smith from the Seattle Seahawks. He has good size....6'3, 230 pounds. Played for Ohio State. Limited experience...but who knows what he might be capable of if given a chance.

[siriusly_invested]

Denco, I'm suffering another brain fart so I need to ask a simple question. On stockcharts.com how do I find the option to display my P&F chart based on closing price? I know it is right under my nose, but I fail to see how to do it. Thanks.

EDIT: never mind Denco. I found the "close only" option for the chart display. Love that double top breakout. Thanks again for the clue.

[siriusly_invested]

My bad... I've been looking at pictures and reading about the Osprey now. I have never seen or heard of either. I am starting to carry my camera more when I am outdoors. Hoping to get some good shots but nothing as of late since the spider pics.

SIRI had a good close. I was thinking it was going to fall off and close down like it normally does. We have what 6 more days until earnings? I sure hope they beat expectations. This market is brutal to the meet and miss earnings. Fingers are crossed. Good luck to everyone!

Using the Football jargon, take a look at the Seattle Sea Hawks........... they use the logo of a bird which could be a Sea Hawk, or an Osprey. Obviously, in the heart of Texas you are not going to see one of these birds. Venture over near the seashore and I'm sure folks will tell you they see those birds each day.