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Thursday, January 05, 2006

Episode IV - A New Hope?

Maybe, maybe not. I will post normal charts later tonight, but wanted to give a quick SIRI update as many of you have sent me emails (see my past SIRI posts starting here, and following the links backwards).

Today's action was mildly bullish - price again tested the 200DMA and bounced, and SIRI closed just shy of the trendline it broke yesterday. It was also a narrow range, inside day.

If price can take out today's high, it would be a bullish sign. But, my stop is still in the same place if it does not. I would really like to hold this stock another 1+ years and see it double from these levels, so I hope we see some more positive signs tomorrow. But, I will not hesitate to book my long-term profits if we don't.

Howard is on Larry King tonight, and I am looking forward to the first show on Monday!

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