Reid - 1)Thanks for posting that chart on DPAC. I've gone over it and agree with your analysis. Unfortunately, I don't think it will continue to trade with the necessary volume and liquidity. It will be interesting to see where it trades at the open. Your "buy" signal, and I agree with it, varies with many of the popular websites, which say that TA shows an extremely oversold position. I happen to agree with you that it will go up. There is a momo crowd that came in and will want to entice others. As you know, the momo crowd usually has no knowledge of a company's fundamentals and are following others, either directly or indirectly. The manipulative tactics are varied, from phone calls to massive spaming on Yahoo and elsewhere, to creation of TA moves in otherwise thinly traded issues.
However, I'm not sure if there is enough potential on the up move and I'm probably going to wait for the move back under a buck, which should scare a lot of the weaker momo players into a panice. Net result is that I think it heads back to another run to the .60-.75 range. But that's my intuition, not a TA opinion and I may very well be wrong. As I actively trade about 40 micros, I don't rely on any one position and don't put enough into any one play to either be called a day trader or to give me indigestion.
So, I'm unlikely to play the .10 move given the risk/reward that I see. However, again, I appreciate your analysis and it continues my never ending education, begun about 30 years ago.
2) I laughed at your description of that XMSR tout's response to your posts. I can't say that you are remotely touting SIRI. Yet, he is so obsessed with XMSR that he had to attack you. I ran into the same thing which is why I continue to post there, more in response to his constant spam attacks on anything or anyone a little favorable to SIRI rather than any desire on my part to invest in SIRI. I posted that I had traded SIRI successfully, that both stocks were moving based on hype and that now the hype was clearly favoring SIRI because of the Howard Stern and Mel Karmazin moves.
I would never "invest" other than a trade in either and I feel that XMSR is also overpriced and now has lost the hype. After I was attacked for a fairly unbiased approach, I decided to trade SIRI a couple of times successfully, posted in real time, and then put it in the tout's face that we are here to make money, not fall in love with companies or their stocks.
I have been successful in trading SIRI, particularly in manipulated after hours trading. One can play SIRI both ways, assuming there are shares to borrow. It's not for the weak of heart though and it can move extremely fast both ways, often in the same session.
I'm out of it now and will probably not trade it until it moves down. |
