Simple's Green Room

[simplegreen]

shares2...here is the chart on SIRI...with 1.39 billion O/S and .65 share loss I can easily see it as a shorting candidate.It appears that the lengthy decline is caused by shorting and the recent Doji candle may well have forced a short squeeze after the Friday announcement of signing Audi and Volkswagen...I am a little concerned at the gap up friday and tomorrow may well show another gain but there is a near term condition on the candles where it had "bottomed" at 5.23 formed a Doji,gapped up next day then follow thru move caused by many that think "we are headed back to 7 or 8 bucks,I better get in".This was followed by further decline to recent low of 4.36 and the identical scenario is playing out.It may keep going north but I see it as a possible gap and trap.If a play at all for my part I would only do a quick scalp until a true uptrend is established.This is all just my T/A opinion strictly from the chart and the way I read it.....Simple