Good move, Judge.
Don't know if I would have held this one over the weekend, though. SIRI looks to me like it has considerable downside left. Nothing but technical sell signals, and clearly in a downtrend, following a topping formation and accelerating volume as it sold off. Today's volume was unusually large. But, it has gotten ahead of all its moving averages, so is due for a breather. Plus, today's candle has a long shadow (tail) below the real body, indicating that when SIRI traded down, it encountered buyers.
askresearch.com
If it were me, I'd look to cover soon (if you haven't already), possibly reshorting later. Add to that the unknown effects the Supreme Court will have. If, for example, Gore concedes, the market could rally considerably, raising the possibility of a short squeeze. And the Supreme Court will likely issue an opinion very quickly.
JMVHO, as always...............
Walkingshadow |
