Welcome to the Trader-X blog!

> TRADEthemove.com - my thoughts
> meditationSHIFT (formerly "tad")- just say "om"

Wednesday, January 04, 2006

Even more SIRI

Continuing with the discussion from earlier today...

The good - SIRI tested the 200DMA (red line) and closed above it.
The bad - SIRI broke the trendline and closed below it.

SIRI is still above the 50% retracement and the stop I outlined in my original post (~$6). To remain bullish, I would have to see a reversal and close back above the trendline tomorrow. If price stays below the trendline and breaks the 200DMA, I will be quick to close the position as it approaches $6, and book my long-term profits.

And, either way I will be listening to Howard's debut in 5 days!!!

Past SIRI posts.

No comments: