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Sirius XM Holdings Inc. Message Board

  • lisa_loves_one_dollar lisa_loves_one_dollar Mar 4, 2010 4:30 PM Flag

    help me out here guys almost 1b shares traded last 4 days

     

    at pretty much a .91 cent average, and one of those days being over 300m shares that moved siri all of 3 cents to the upside..I mean if you take into account the open & closing price, so I guess my question is for you chartist, is siri about to drop off a cliff again just based on the 5 day chart?or do you think it will go into a sideways trend say upper .80s lower .90s for a few weeks? tia for any sirious opinions! what we're all supposed to be here for..

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    • Since the stock bottomed in early 2009 this is the third time it made a significant surge higher. Each time it pulled back to roughly the first or second leg up and then consolidated for a while. The last consolidation was four months long which is probably why this last surge was so big. Generally when a stock consolidates it is building pent up demand. The longer the consolidation the bigger the demand and the more explosive the climb will be at the breakout. Caveat: This assumes that there is a rational reason for the stock to uptrend.

      SIRI has been improving their business since the bottom and most investors believe there is a reason for the uptrend. A lot of investors also believe that there is some manipulation going on. You need to judge that for yourself.

      I think going forward from here SIRI could very well consolidate for a while. It's anyones guess how long. I do believe the company has improved and they should do well going forward or I would not be long the stock. I agree with the post above mine that it is holding support and I am not worried about it at this point.

    • I am just curious the opinion of this forum what would happen to the stock if stern agrees to a new contract?

    • It is solid and holding in the 90s. When it drops, it recovers. Why would you be scared of that? It will climb nicely. You don't want to be a foolish seller. Relax and wait.

 
SIRI
3.82-0.05(-1.29%)Mar 31 4:00 PMEDT