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I Like Chocolate · 01-11-2005, 09:28 PM

Stock is down from 7.50 to 6.10 or 19% since I reccommended selling everything.

Unfortunately for longs it looks like its gonna go lower. On Monday the stock fell to its 50dma and that support briefly held. Today the 50dma didnt hold. We also broke the 10 week MA. NExt support is at 4 (40 week MA, 200 day MA). I think it will probably fall to the low 4's in the next 3 months.

As I mentioned before, the stock is selling at 44x sales which means its a bubble. I think the stock will not reach new highs for another 2-3 years at least. I would sell it. It's gonna be dead money for a while. If you sell, then I could reccomend what you should replace it with!

01-11-2005, 09:28 PM
I Like Chocolate Confirmed User Join Date: Dec 2004 Posts: 821	Sirius Stock (SIRI) Stock is down from 7.50 to 6.10 or 19% since I reccommended selling everything. Unfortunately for longs it looks like its gonna go lower. On Monday the stock fell to its 50dma and that support briefly held. Today the 50dma didnt hold. We also broke the 10 week MA. NExt support is at 4 (40 week MA, 200 day MA). I think it will probably fall to the low 4's in the next 3 months. As I mentioned before, the stock is selling at 44x sales which means its a bubble. I think the stock will not reach new highs for another 2-3 years at least. I would sell it. It's gonna be dead money for a while. If you sell, then I could reccomend what you should replace it with!