Sirius XM Holdings Inc (SIRI)

[maksim]

I am new to the board, so excuse me if this was covered, but what is your position in SIRI? Are you short? Or just a put holder?

Surely going out of the way to scream for others to sell, when quite frankly, the vast majority of the people on here, and my institutional fund guys dont see it your way. So full disclosure?

As with any chart, there are multiple ways you can read it, however the way siri is behaving now, purely from a technical perspective, you cannot really argue about it. The short term trend is absolutely up. Obviously you can scream it is overbought, which it will soon be, however just because it is overbought does not mean it will go down today, tomorrow, or anyday after. But it will go down at some point in the future.

The market can stay irrational far longer than you can stay solvent. Much like you dont want to catch a falling knife, going short on a stock that is busting through all resistance is just as stupid.



BB envelopes scream buy, there is money flowing into the stock on higher volume, and the MACD regression is bullish. Next confirmation will be the overbought RSI. I would keep holding until the RSI then falls below 75 or so to confirm it, on lower volume.

These are just pure technicals, we are not even opening up the fundamental story which is as optimistic.

I bought a ton of long $2 calls expiring july for about $.08. Sold little less than half a few days ago to lock in my double, and let the rest ride. Was going to sell today to close out my position, but in light of everything, rolled it out another month. Bought $2 Aug calls for $.33 and gee, already in the money.