First off I'm not a professional at this and don't know it all.
RSI went above 70 that indicates possible overbought. In a fast running stock it's no big deal just a watch real closely indicator that the stock could turn at any time. If it goes above 90 sell at once.
If you looked at the buy/sale volumes sell took up 72% of the trades even while the stock was going up. When sells start out producing buys the stock has to turn eventually. Why it didn't turn immediately and kept going up, my guess is, because the MM's was burning up their own inventory, ie wanted to decrease the number of shares in their own inventory for whatever reason. It doesn't matter that I know what they know just what they want to do based on what they know and it appears they were purposely shedding inventory which would mean to me they expected the stock to go down.
Tomorrow is Friday. Different stocks have different patterns. Siri normally goes down on Friday.
Next Friday Siri's options come due. MM's will be more prone to try to hold down the stock price to keep those who bought options from being able to cash in. They only have to hold it down below 4.00, but stuff not being perfect they may not want to take a chance of a run happening. They don't want to chance loosing money come the 19th because a last minute run kicked in and shot the stock above 4. So maybe they'll bring it down further then it'll be on Monday's opening.
I'm tired of watching my money not make money. I did it because I was scared of taking chances of risking it in other stocks. I consider Siri a safe stock so I put all my money here as a savings account. But must like a savings account I ain't made much interest. I picked yesterday and today to get real about stock trading and I went and educated myself further on TA and I'm ready to branch out on stocks that are moving now instead of leaving my money in a stock that will move someday. If I'm wrong and the stock goes up tomorrow, I miss out on this stock. I can still buy a different stock and make money. I believe in this stock, I believe in this product, but I am into stock trading to make me money not to give some corporation capital to run their business with. Therefore I only want to invest in companies that are going to move immediately after I buy in and I want to sell out soon as they stop moving.
I XMSR was tanking faster and heavier than SIRI was and that got me worried. Buy on rumor sell on news. Stock shot up prior to Tuesday because people wanted a vote. Stock logically would go back down after Tuesday for those same people who would then want to move their money to a faster moving stock. So I was waiting for it to peak and go down.
I should've sold earlier. I didn't because I allowed my emotion that I didn't want it to go down, that I hoped it would turn back up to stop me. As it is I may have screwed up and sold too late. It may be done going down and it may not go down any further. In that instance I would've been smarter to sell at 3.71 and buy back in at 3.61. But my emotion was in more control than my logic and I was slow on the trigger.
I didn't know the rest of the stock market was going down too. It could be possible tomorrow mornign the stock will take off and it only went down for the same reason that the other stocks went down. I could be completly wrong about selling.
Number one indicater that the stock peaked for me was the buy/sell volume. 72% sells vs 27% buys says the stock has to start trading at the bid and drag the price down. It took longer than it should of to turn down based on this logic. The only reason I can think of for the delay is that the mm's had access inventory they had to get rid of. Perhaps they had that inventory in preperation to cover calls and now they plan on holding the stock price down so they don't have to. I don't know.
If I'm wrong I can always buy back in.
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