SD Trader asked for a chart of SIRI:
I have a chart request for SIRI..can you break it down for me. I am currently doing mostly swing trades and this appears to be a decent oppurtunity to get it before the Stern/xmas effect.
From a strictly technical standpoint I don't like the recent action in Sirius. I don't like the fact that it's still under that downward sloping trendline. I also don't like how it's gave up the 50-day moving average without a fight. If I had a fundamental reason to buy the stock then I might say that this is a good spot to buy it since it is oversold and very close to support. Depending on one's risk tolerance a stop could be put somewhere between 6.40 and just under the 200-day moving average.
