XM Satellite Radio Holdings Inc. (XMSR) Message Board

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Technology Stocks : XM Satellite Radio Holdings Inc. (XMSR)

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To: i-node who wrote (1731)	1/26/2005 6:48:23 PM
From: Michael Hart	Read Replies (2) of 3386

<as close to the bottom as you could have gotten.> Hi David, I find that it's best to place a limit order at support when it breaks it on a gap like today and than just accept the price you get. Of course you have to have the expectation that it will rebound from the gap down. Ok, shameless ego boost here, this is my writing to BillCasto on Monday:(By the way my call for SIRI below $5 did not come true......) "Yes, I'm saying be hedged by something, covered calls, buy puts or sell the stock outright prior to SIRI's earnings. Monday or Tuesday is fine tunig depending on market conditions. " "The second is a buy of XMSR for longer term(few days) trade with a bounce and a runup into earnings. the lowest I'd expect to pick up XMSR is the $31.50 resistance. More likely and a safer trade is to let XMSR bottom.......maybe $31.50ish and than buy it on a break of $32 on the way back up. Immediatly set stops at the bottom in case it retraces and breaks." I was hedged by CC's on an existing position......closed it on the gap and bought another 1/2 position........ I love this sector !!!!!!! Be well and have a great night, mike

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