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Wednesday, December 28, 2005


Many of you emailed me this morning to tell me SIRI was down. Keep in mind the key points from my post yesterday:

1.) I said "notice it gapped up today and struggled with the 34DMA. If it can work it's way past that area in the next few days, it could easily re-visit the high from a few weeks ago". It never broke through that level, so the catalyst I outlined for SIRI to move higher HAS NOT happened. Today, it moved down from that 34DMA resistance.
2.) I said "I would turn bearish if SIRI closed below $6, which would violate a lot of the support I pointed out". As of now, we are still above that level.
3.) And, I said "I actually own SIRI in my retirement account (from much lower levels)". If I closed my position at $6, I will lock in a sizeable long-term gain. Thus, my perspective is somewhat more relaxed than someone who bought it at 6, 7, or $8.

Good luck. Either way, I will be listening to Howard on 01/09!!!

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