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JimVanMeerten (58.46)

I'm not serious about Sirius



September 29, 2011 – Comments (0) | RELATED TICKERS: SIRI


It's hard to be serious about Sirius (SIRI).  Over the last  few years it has gone from a high of almost 70 in March of 2000 to a low of .05 in February of 2009. 

Barchart technical indicators:

1 - 72% Barchart technical sell signal is weakening

2 - Trend Spotter sell signal is weakening also

3 - The stock has been trading below its 20, 50 and 100 day moving averages

4 - Although the stock is 29.10% off its 1 year high it is up 49.14% over the last 12 months

5 - Relative Strength Index is 46.44% and rising

6 - Barchart computes a technical support level at 1.67

7 - The stock recently traded at 1.72 which is below its 50 day moving average of 1.80

Summary - Sirius XM Radio (SIRI) is a former and faded rising star.  There are so many great stocks that have solid projections of double digit increases in sales and earnings that I'm surprised that so many analysts and investors are still paying attention to it.  If you have money to lose and want to have speculation to brag about then buy a little. If you think at 1.72 it can't go any lower remember that a couple of years ago it fell as low as 5 cents and it can again.  This stock is for you craps shooters only.
Jim Van Meerten is a Marketocracy Master

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